All Forum Posts by: David Kay

Can anyone from Rochester NY recommend a good property management company?  At the moment I'm focusing on management of my C and D class properties.

I've always wondered how to land financing in a syndication deal. At what LTV % did you borrow? Did you need to show finances for all those that you accepted money from (re: PPM)? Are there any personal guarantees or was this a nonrecourse loan?

PM me with details.

I'm a computer programmer by trade and I own a few rental properties. I'm always looking for the next deal but I find it time consuming manually crunching numbers that a.) my real estate agent sends over or b.) I find on MLS websites. I'm looking for a way to mass query MLS data via an API and analyze thousands of properties according to my specifications/criteria/strategy.

Does anyone have experience with writing (or using) custom software that does this?

Yes, the banks will use 75% of the income generated from the other 3 units to help you quality for the loan.

Excellent work. How much did the attic renovation cost?  Did it include electrical and plumbing?

Will, thank you for the response.

I'm not looking to rehab and flip houses. I'm looking for a long term strategy personally, but will pay each investor a return for 10 years. I am even willing to add appreciation into the payback, as my numbers still work.

Advantage for me: Low out of pocket costs to purchase. I still have all the benefits of real estate (appreciation, tax, equity, cash flow, etc).

Advantage for investor: Very good rate of return with very low risk. They are completely silent and receive a check each month.

If I could structure a reusable formula using a securities attorney for a cost of around $10k, I will do it. It will pay off in the long run as I anticipate more and more people wanting to join forces with me.

Exactly what I was looking for. Thank you.

Yes, they do have enough cash. However, I'd like to spread the cash across multiple properties. This is for my benefit as I can buy more properties by using a bank. I have execellent credit.

I sold my house a few months ago and am getting ready to buy my first multi-unit property. I have a high income and can buy my first property myself.

However, I have many friends that are nearing retirement and are looking to partner with me on one or many real estate deals. THEY are approaching ME, wanting to get "in on the action".

With outside investors, I have the ability to buy many properties quickly. They are looking for a reasonable return on their money (6-10%) and want to be silent. I will manage all aspects of the property.

What are my options for structuring a deal? Do you have any examples of where you partnered with someone, formed an LLC, and secured a mortgage under your name? I'm curious to hear what others have done and how the deals worked out.