All Forum Posts by: Tevis Verrett

Oh Buddy, this is lighting up!

Michael D. what you fail to take into account is that higher rates do just the opposite of what you opined. Higher rates force rental pressure.

Higher interest means less consumers qualify for home purchase, so they have no alternative but to seek rentals.

Rental pressure increases rents. Increased rents force appreciation, forced appreciation builds equity.

And who said that we were starting with negative cashflow?

Tevis

Hey John R. Selling wouldn't be so bad, and would be a wicked good strategy in this case!

You will find a buyer that will cash to new loan on your balloon obligation and take back paper on all of that delicious appreciation that you received over the past five years. . .

and even better than that, your note can be five points more than the prevailing rate. Think a 14% note on $1M

I would take that bet, eight days out of the week!

Tevis

Hey Toby Johnston You have received thorough advice and wisdom.

I interpret more of what you are asking is, "how much per door."

Meaning as buy the property "right" meaning not overpaying for it. By varying your down, you can juice the per door cashflow.

$100-300 per door in a multifamily commercial property in cashflow.

Your market and buying power will determine what your minimum is.

YMMV, objects ARE closer than they appear. . .

Tevis

Dear Amie D. the noise that whiny crybaby naysayers make using the internet as their bully pulpit, should be looked at with a grain of salt.

I am an e-commerce titan selling a commodity on the internet. My most beloved customers rarely comment. . . but dont give a guy an additional discount, on an already discounted product, or dont ship an overnighted item for free. . .and I just might wind up on yelp as an unfair retailer.

The internet is a very powerful tool for all of us. We can vet a tenant on Facebook, or find out the financials of a company even before we invest.

With opinions, I listen but dont yet judge. If it was from known friends here on BP, I give it a LOT of weight.

For the legions on twitter or yelp, or reseller ratings, a grain of salt.

If I were you, I would ask to talk to both happy and not so happy property owners.

Being a PM is an adversarial relationship to a tenant by it's very nature.

So vet em, and please keep us informed of your progress!

We are stronger, together!

Tevis

Hi Lauren Hardy, and yes, I do have a bag of money. . . that I carry to real estate investor meetings.

Love me some Karen Margrave and can so very much agree. There is so much warmth and such good people here on BP, just get yourself and strategerie known. Folks will find you.

We will lend on buy and hold, and do transactional lending. My brothers and sisters here have given sage advice.

Above all, be careful with hard money, and have multiple exit strategies to get the lender/investor paid back.

And double above all, bring the killer once in a lifetime deal.

If the deal is good enough the money will come!

Tevis

Bravo Brother Brian. I second David Lindahl. I am also syndicating two multifamily 100-unit buildings currently, so feel free to ping me for advice and details.

Tevis

Aww Brother Al, you humble me sir. Mr. Williamson is one of the giants, of whom shoulders I stand on!

Blessings All,

Tevis

. . . and change your attitude!

It is not the investor that has to be trustworthy, it is you that has to have a 'pay it forward' attitude and create value for the prospective individual that will take you under his/her very large wing.

I mentor noobs, and the QUICKEST way for them to succeed is by creating value for me, my partners, or bringing something that I need by anticipating my wants.

What are YOU bringing to the table?

My 0.02,

Tevis

Hey Lawrence B I work with a host of folks in your particular situation. It is called syndication-bringing strategic partners together in a purchase that no one person could do alone.

. . .and as you are doing deals, you are strengthening your credit in the process!

An example would be a 500 unit apartment complex. You could be one of the players in the down payment; and/or bring cash and expertise for a larger equity share.

Also, a warm welcome to BP, you are going to find a host of genuine souls, and potential friends here!

Ultimate investing, Y'all!

Tevis

Um no, Albert. The Fed is printing money like a whore on holiday and we are at numerous iterations of quantitative easing that, as a stimulus, are not working and are horrible failures.

Not only us, the world banks in other countries are doing the same thing (stolen from Harry Dent's website):

+++++++++++++++++++++++++++++++++++++++++
To summarize, Harry is practically falling off his chair because there is finally another voice of reason backing up what he’s been saying for years. Finally, someone else – someone with some clout – gets it.

Austerity IS necessary.

In short, the Bank of International Settlements of Switzerland (BIS)
statement warns central banks around the world that they must stop retarding economies with loose monetary policies. Instead, we must finally make the necessary reforms to our balance sheets… we must write down loans… we must do the hard work necessary to return to health.
This central bank of central banks says that the low interest rates and quantitative easing since 2008 has not been used well…
That if this craziness isn’t stopped now, any further action will simply compound the risks they’ve already created.
Quantitative easing should be for emergencies only. For when a tsunami hits or a major bank melts down.
It should NOT be used to cover up structural problems.
+++++++++++++++++++++++++++++++++++++++++++

As soon as Bernake said "tapering the QE" the market hemorrhaged last week.

Can you imagine what would happen to world economies if the world woke up from the hangover?

THAT right there will cause the meltdown.

Tevis