All Forum Posts by: Eric Sipe

@Zachary Jensen

Great, I appreciate it! What's your website?

@Sean Graham No cost segs yet, but certainly in the future. It would be much appreciated if you could connect us, for sure! Thank you so much

Hello everyone! I'm currently looking for a CPA specializing in small business and real estate (who has the ability to help with business acquisition, quarterly taxes, annual taxes, real estate tax strategies, etc). Does anybody have any great recommendations? Thank you so much!

@Eliott Elias

Thank you! I'm prepped for that, just trying to find people who aren't selling and trying to see if they'd be willing to.

@Chris Seveney

Okay, that's good to know! I'm all for grinding and hard work. Just making sure I'm not sniffing around the wrong tree. Thanks!

Hello BP! As my subject line implies, I'm trying to find properties to buy creatively. I'm in Pinellas County, FL but am running into issues finding the actual properties (small multifamilies) to buy.

I've gone door knocking and have joined some Facebook groups, but haven't yet found someone wanting to sell a property Seller Financed or Subject To.

Does anybody have any suggestions or experience in this arena? It may be as simple as I haven't done enough door knocking/posting, but I'm no pro at this.

Thank you!

@Samuel Hailai

Hello!

What types of properties are you looking for and in what class(es) of neighborhoods? And are you looking to solely rent out or do you want to house-hack?

Best,

Eric

@Taylor L. Thanks for that; that's a great point I hadn't thought of! I suppose when the time comes, I'll have to get both - a good "issue" to have!

Best,

Eric Sipe

Hey BP,

In the future, can I hire an assistant to essentially manage my properties?

I know that (in Florida at least) in order to manage a property other than your own, you have to meet certain requirements such as being a broker. I want to know if it's possible to teach an incredible assistant how I manage my properties and let them almost act as the manager.

This is just a thought experiment for my future endeavors, so if it can't work, it's not a big deal.

Best,

Eric Sipe

@Nicole Rogers

Hey Nicole, just a couple things to keep in mind, based off the above comments:

1) Most syndications require you to be an accredited investor in order to legally take part in the syndication. In order to be an accredited investor, I believe you have to earn $200,000/year (or more) or have a net worth of over $1,000,000. If it's a family member, friend, or someone you know from a previous encounter, it's possible they don't have to require investors to be accredited.

2) As far as the 4plex goes, I saw someone mention you needing to put down 25% for down payment, thus your $25k being put towards a $100k 4plex. This isn't entirely true, as you could house-hack it, making you only have to put down 3.5% via an FHA loan (though you'd have to plan to live in one unit for at least a year). With a 96.5% loan to value, you could buy a property in a very nice or competitive market, provided your metrics working out for you.

Hopefully this helped in some capacity!

Best regards in your wealth-building journey,

Eric