All Forum Posts by: Scott Isley

Hi Meghan, 

is this for SFR or commercial?

My real estate attorney sent me the info of a property management company one of his commercial real estate clients uses.  He couldn't speak for the quality and I can't either, but could be a nice lead for you to follow.

Steve Sisson, CCIM, CPM

Vita Property Management Group

509 New Highway 96 West, Suite 101 Franklin, TN 37064

(615) 656-1892 office   http://www.vitapmg.com/home.html  

let me know how it goes and which company you liked

Best of luck

Scott

you got it @jonholdman , thought networking would be a good place to post, but will add  to events forum

Hey Rob how about that new pizza spot at the lofts  (101 & Encinitas blvd) Quei Bravi Ragazzi is 830p too late? 

I'll set up event if those work for you an see if we can get some other bodies there. Sounds fun

@Mattc. Next time when your back in town

Hey Bp

Thinking about setting up a casual get together this Friday in Encinitas. (location to be determined)  Any investors in  San Diego or Southern California interested hanging out and talking shop? Can't go wrong with good people, good conversation and good pizza. Who's in?

Wishing you all continued success

Scott

@Brian Burke those cobwebs are unreal!  At least they previous owner had the good taste to shop at trader joes

@Account Closed I think we are in similar boats and the answer your initially looking for relates to the type of investor your talking to. For myself since this is my first foray and I don't have a track record yet I am going to friends and family...essentially less sophisticated investors who have no idea what IRR is. Though we can teach them, they mostly want to know what their annual returns will be and what they'll be getting from the deal money wise (what do I get back for what I put in -- enter COC) so I think it boils down to who you are talking to.

In my sample deck I include IRR, COC and 5&7 year projections + what the annual return is projected to be with the money invested allowing me to present to either -- those who are and aren't savvy investors. So I would say know your audience as you build a track record. As you gain more experience and cut your teeth, that will open you up to more sophisticate investors on future deals.

Kudos @Ben Leybovich ! Excellent perspective on that piece of advice

Congrats @Rodney Kuhl ! @Brandon Turner 's the man so I'm sure his recommendation is great. I also got a lot of value out of Ken McElroy's "the ABC's of Property Management" excellent read! Great job on your returns! Much continued success to you

@Joe Fairless excellent idea, hadn't thought of that, will do approaching investors. ---> thoughts on a blind pool mitigating the issues mentioned?

Great advice guys; @Jeff Greenberg, @Joe Fairless, @Scott Meyers, @Eric Tait, in your personal apartment investing, can you recall a major issue or horror story with one of your acquisitions and what you learned form it? (occupancy significantly reduced, under planned capex.... I know @Michael Blank has a pretty rough one with the DC area and code violations with a monster tenant almost driving the property to bankruptcy... something like that?)

Thanks all!

Hi BP,

As I'm getting closer to raising the funds for and acquiring my first apartment property, I'd like to hear the bad and the ugly of your experiences and what you LEARNED from them.

We usally her the good and the successes, but we learn most from failures. Can you experienced syndicators and CRE investors chime in with your stories and wisdom?

Like everyone else replying there are too many to mention:

@Brandon Turner for his real estate recommended book list....which i searched and subsequently allowed me to find the Bigger Pockets community with its wealth of experience and info

@Michael Blank For putting together a great step-by-step guide to syndicating your my first apartment acquisitions (which is coming together!) also creating an "idiot proff" deal analyzer that has saved me hours of time!

@Brian Burke for being an advisor when i have newbie questions on property analysis and for your expertise on real world financials when analyzing properties sent my way

@Damien Shoemake For continuing to supply me with potential deals especially the off market ones

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The networking and information on this site has definitely made my journey easier and more possible to acquire my first aparment building this year on my way to 1,000 units by 2015. Thank you BP! @Joshua Dorkin