All Forum Posts by: Shiv Jey

Please DM me to discuss.

I imagine I want to use a local bank, local lawyer, and local management company (last is obvious) to the property (as an out of state investor). Do you get all these people in line first before making offers and finding properties or do you identify the deal first, then find the above along with the inspector, handyman, contractor, etc?

Originally posted by @Todd Dexheimer:

1. Loan products will depend on the size and price. 1-4 family you can get 30 year fixed, possibly FHA. It's in your personal name and carries good rates. 5+ unit under $1M loan size will require a local or regional bank in most cases. These will be 20-25 year amortization, 5-10 year balloon, 4.25%-6%. Loans over $1M on stable properties may qualify for fannie mae/Freddie Mac. 30 year am, 10 year fixed. 3.75%+

2. People with IRA's that can become self directed have quit a decent job at some point, retired or are self employed or are just diligent savers. Network with you friends and family or network with the national/local self directed IRA custodians

3. If you have a partner or a few and they are all involved in the operations to an extent that could deem them a partner, then a syndication may not be needed. If you are running the show and they are just collecting a check or adding little to no operational value, then you should run it as a syndication. I would not mess around with the SEC. Do it right and avoid playing with bubba!

Thank you!

What are typical strategies when one approaches the balloon?  Do you refinance into another balloon, and keep doing this?  Do banks get shy when they see multiple refinances, or are they bolstered by continued cash flow?  The way I see it, a lot of the deals I'm seeing cash flow, but not nearly enough to pay off a property in 10 years, and if we keep refinancing, it never really gets paid off.  This goes counter to my thoughts of buy and hold, since it seems like I can refinance once or twice, but ultimately sell the property and do a 1031 exchange, only to get into more 5-10yr balloon period deadlines.

I've been reading the news daily on the country's biggest employers to track where they are expanding to.  If company X builds a warehouse and expects to hire 50k people in Y city, how do you approach this information?  Does this typically indicate growth with such a large plan for expansion, or does it simply move people around in the current city and not affect growth reliably?  Thoughts on the matter?

Originally posted by @Larry Fried:

Welcome to BP, @Earnest Boyd  Dayton seems to be a fairly desirable market these days.  Its getting a lot of investor attention in any case.

Larry can you expand on this if you don't mind?  I have been very interested in Ohio.  Amazon announced a few new fulfillment facilities which will seem to bring in a lot of jobs, and I wonder if this will drive growth, or would it simply draw from an existing population to work there, and do nothing for investors.

I'm learning as much as I can to delve into multifamily properties.  However, I have many questions regarding financing:

1.  I have a high income already, and can put in about 200k.  What loan products or class of loans should I search for to fund non-owner occupied for out-of-state investing and are they non-recourse?

2. I'm starting to see that using my money in addition to others' vastly increases the size of project I can go for. How does one typically find self-directed IRA investors to invest?

3.  When getting others to invest, does it automatically become a security, and require a special attorney for all filings?  I'm reading these books by lindahl and others and the impression I'm getting is that they're securing financing without these complicated syndications.  Can someone explain this to me?  Even the podcasts I listen to, people are talking about getting financing from friends or investment clubs, but no one speaks of all this other stuff...are they just not talking about it?  Or are they setting up their contract such that it doesn't become an issue?  And if so, how?

Originally posted by @David Barnett:

This is not a "gift."  This is a loan, and if you say to a lender that it is a gift (usually needing to provide a signed form that it is truly a gift and not a loan) and it isn't, that is called fraud.  Don't do it...

 This is great to know.  Thank you.  I will wait it out until the money is available.

I'm looking for ideas.

I found a great house I'd like to buy but it's a month too early.  On June 30th I will have the funds needed, but for now I'm 20k short for a loan.  One idea I've had is to have family "gift" me the money, and I will repay them on June 30th.  However, I really don't want to get family involved.

Does anyone have any other ideas?

Hello all,

Wife and I are high earners with busy jobs and limited spare time (total salary >$1.2M/yr). We don't live lavishly, pay a ton in taxes, and are making traditional investments. Our savings are starting to grow, on track for about 150-200k/yr (paid off student loans first). I posted here previously after reading a few books on real estate investment, but you guys made it pretty clear that it isn't worth building a SFR portfolio and being a landlord when time is already limited and our jobs are high paying.

Some advice we did get included syndication and getting into apartment complexes.  We are in Seattle where the market is simply too hot and crazy; however, we have family friends in Florida who are already into apartment investing full-time, in Florida, throughout the nation, and even internationally.  I'll be meeting with him in a couple months.

My questions to you are...as someone who knows very little about this, what are some good resources to learn more?  What questions would you ask him?  If anyone has experience in this, what did you wish you knew or did when you were at our stage?  

Also, how and where can I learn more about syndication, getting my foot in the door regarding these opportunities, meeting the right people, etc?  Many have told me that becoming a high earner makes you a preferred investor that opens up interesting investment opportunities, and though I may qualify, I have no idea how to actually find and be presented these opportunities.

I've been going through some land-for-sale in my town (Seattle) and consulting the traditional avenues (Zillow, Redfin, etc).  I noticed that the land allocation "boxes" placed by zillow and redfin sometimes are blank with just pure land and no house or anything.  Does this mean it's owned by the township?  How do I find this out, who, and how do I even ask the question so they know what I'm talking about?

For example, "When reviewing the property lines for XXX neighborhood, I notice that between house XX on Mulberry Street and YY on First ave are two lots of land.  Is the state willing to sell this property?".  Doesn't seem right...perhaps you guys have some insight into how to approach this?