All Forum Posts by: Matt Skinner

@Kyle Neff if you have assets to protect you should hold your properties in an LLC.

If you were starting out with few assets I would recommend only getting an LLC when you got your first asset.

Houses are best held in Land Trust.

Land Trust gives you similar asset protection (separation of your assets) but do not cost as much as owning and maintaining an LLC.

LLC can give you tax benefits that a Land Trust doesn't and if you're going to have investors or partners you should hold each property (or group of assets) in separate LLC's

@Basit great answer

@Jason Powell

By definition you would be able to achieve financial freedom faster by outsourcing or “hiring” a syndicator to steward your commercial assets.

When you invest in a syndication you are “hiring” someone to find the deals, get good bank financing, raise the down payment money giving you and everyone involved diversification, and then they take care of all the tenants, toilets, and tax returns do you can live the “mailbox money” lifestyle.

In the last 10 years, the lowest annual return my investor team received was 18% a year.

My investors average about 21% per year in my apartment deals.

One of my investors has $300,000 in my 12% interest real estate bond.

She gets $3,000/month passive income - she practically lives on this.

@Kyle Marek And you should definitely hire a 3rd party Management Co. Especially if you’re starting out.

@Kyle Marek @Kyle Marek YOUR GRANDFATHER IS RIGHT and WRONG Property managers WILL lost their focus over time and will NEVER care as much as you do. That’s why Its Important to mananage The manager and keep an eye On your #s

I just opened up in Nashville and I'm looking to connect with some like minded real estate investors. 

What do you like MOST about the Nashville market? And what do you find the most challenging about doing deals here?

Im starting a meetup, opening an office and studio, and will be buying multifamily and development projects locally and in surrounding areas and Im looking to network with all kinds of people that are on similar paths. 

I look forward to making connections and if you have deals, or want to hunt deals for my firm, I'd love to hear from you. 

Matt Skinner

I have done very well in Palmdale/Lancaster over the years.

I bought and sold Short Sales there several years ago.

I still own apartment buildings in that market that do very nicely.

If you are looking for turnkey, I have some investment opportunities for you; In CA and in Arizona.

Multifamily and Development.  

You can be a part of a great deal with zero hassles for just $50,000.

So he has a $140,000 mortgage in place (If he sells for $210k he claims he has $70k equity) - the payments although I am not told what they actually are should be something like $7 - 800/month.

Monthly gross potential income from rent is $3600/month => $43,200/yr

If you used a 50% expense ratio (which is really high in most markets except Texas where property taxes are through the roof) you could have a $21,000/year NOI or a 10 cap if you paid $210,000.

With a cap rate that high I would first ask if this is a high risk area/property.  By the way, buying something 50% occupied (rehabbed or not) is a HIGH RISK deal.  Use that to your advantage in your negotiations.

I would say to the Seller:

Listen, the property is only 50% occupied and that is risky.  But here's what I can do. 

I have four options for you.

1.  I can pay all cash and close quickly but I can only pay you $170,000 (20% discount)

2. I can give you $50k down and take the deed subject to.

3.  I can give you FULL PRICE with $10k down and an option to buy it for $210,000 and pay you monthly rent (anything over the mortgage around is your cash flow on a $10k investment).

4. I can give you OVER ASKING PRICE $230,000 for the property.  I will pay your current mortgage payment.  I will give you a note for $90,000 in second position and pay you $500/month on that note until I sell or refinance or until it is paid off.   You get $6,000/year Mr. Seller.  I will even let you keep the tax benefits of the first mortgage AND we can close today if we can get the paperwork done before supper.  

In scenario 4 your cash flow would be something like $500/month to yourself on a ZERO dollar investment.  

Feel free to send me 20% for teeing it up for you.  lol.

Now go take that property down.  Assuming my guestimate underwriting is somewhere near correct, sounds like this property has some killer numbers.  

Feel free to call me if you want me to walk you through it again.

Bombsaway!

Anybody know "Lender" Douglas Dorsey Lyons & Partners from Oakland?

Several weeks ago I posted on Bigger Pockets in search of a private loan for one of my associates.

Several people responded; one of them being Doug Lyons.  

He did his due diligence on the property; drafted loan docs (which were fully executed) and  he charged a fee for 3rd party reports.

My client spent significant time and money working with this so-called private lender and then the week before closing (which is supposed to be tomorrow) his wires never came through to escrow and he disappeared.

Anybody looking for a loan ought to avoid this scam artist.  

To tell the truth, we don't announce this much, but from time to time I do consulting for syndicators, or would-be syndicators, who need both debt and equity financing structures.

You have a deal that requires equity?

Want to put multiple investors together in your deal without giving up control or your leadership role?

Need to figure out how bank qualifying, debt structure, and equity partners all fit together?

I help my clients through the deal process step by step, from negotiating terms with the Seller, organizing the due diligence so a prospective investor can easily "get it", leveraging your credentials (even if you don't think you have any) to build credibility, putting the Offering Package together and the Private Placement Memorandum that meets SEC guidlines, and last, but certainly not least, sales and marketing techniques for rounding up the funds.

If you are seeking an equity amount of $200,000 or more...

If you are working on multifamily, hotel, development, commercial, or a tape of houses...

If this is your first syndication or have done this several times and just want to do it better...

Contact me now to discuss how I might help: http://mattskinnerconsulting.com/bp/

I have given my consulting clients my team of SEC and contract attorneys passing on my “good-guy” rate and have directly assisted in helping them source funds for their deals.

Many investors are only limited to the size and volume of deals they can do by their access to capital. This is not necessary. Believe it or not, there is more capital chasing deals than there are good deals out there. Learn to harness this opportunity. It’s easy once you know how.

Set up a quick, free, phone consultation to see if I can help you: http://mattskinnerconsulting.com/bp/

Serious inquiries only.

I specialize in the following:

Real estate syndications.

Creative financing solutions.

Private equity formation.

Contracts and deal structures that attract private investors.

Debt and equity placement.

I am not a hard money lender.

I am an experienced private equity syndicator only willing to work with serious, committed investors with the utmost integrity. If this is you, and you have a deal you are contemplating, let’s go get it funded.

http://mattskinnerconsulting.com/bp/