All Forum Posts by: Travis Hibbard

Quote from @Marie B.:

Quote from @Travis Hibbard:

I've recently decided to invest in Norada notes through my SDIRA.  It is my 2nd time investing in notes but my first with Norada and through an SDIRA.  So far so good and Marco who runs Norada has been extremely punctual and helpful as i've navigated next steps. I will keep everyone posted as I move forward but so far everything has been a 10/10!

 Hey Travis, How has your experience with Norada investing been? I'm considering investing with them and I'm be interested in how your experience has gone so far.

Everything has gone exactly as communicated and planned. I'm a little over a year and its consistent and reliable. The track record of others i'd interviewed and my experience so far has been great. Marco answered every question I had directly and is quick to respond. If you're curious reach out and setup time to ask questions. Is it risk free no, if it meets your risk tolerance it might be a great option.

Hey everyone!

I've recently been investigating what to do with my duplex that has appreciated significantly and the potential capital gains. I'm investigating the opportunity zone fund space and investing in syndications. I've done 10-12 other syndications and am comfortable with the process but am wondering if anyone has any sponsors they would recommend.  

So far i've received referrals for Cresset and Origin Investments but both are longer term developments with minimal cashflow for 4-5 years. Is anyone aware of a more near term fund that offers cashflow earlier on and isn't a full development cycle fund? I'm new to this space and needing to find a new sponsor outside of my usual team that I work with.

Thanks in advance!

Travis

I've recently decided to invest in Norada notes through my SDIRA.  It is my 2nd time investing in notes but my first with Norada and through an SDIRA.  So far so good and Marco who runs Norada has been extremely punctual and helpful as i've navigated next steps. I will keep everyone posted as I move forward but so far everything has been a 10/10!

How is it going this poorly already?

Ok so here's the backstory.  I went under contract a month ago and began my search (armed with BP advice) on the questions to ask to find a great manager.  I chose the ppty manager route because i'm a newbie (first duplex) and i'm a dad with two young kids looking to baby step into things.  After meeting with three prospective managers I made my choice based on local experience, a great conversation and an understanding of my critical nature of how I like things done.

Flash forward 3 weeks and I close this week, the manager had been sending every other day updates on progress in getting in to take pictures, review lease details, agree on rents and get the advertising going.  I'm excited to find the posting and then discouraged at what I find.  An incomplete posting with no details of what amenities are provided and the only picture was the street view google image of the property.  All of which show up in their other listings.  I'm a huge believer that great pictures and a clean posting can really elevate the caliber of tenant that will show.  Being the critical person that I am I would have every detail dialed in about the listing but believed that a FT manager would have a much better method for making it happen.

I sent them an email that night listing my concerns around what I saw (or lack thereof) and its been over 24 hours and no response.  Am i being a little too anal since this is my first posting?  Should I have just gone at this on my own and given this property the attention I know I can give? 

I'm going to wait another day before I really panic but what would you do?  Fire them right now?  If its already this poor how much worse can I expect?  

Feeling discouraged 

Thanks for all of the support!  

As I dig deeper and look at the deals i'm definitely getting a good feel for understanding the numbers.  For awhile I was questioning if i wasn't analyzing the deals correctly but after talking within my network my math is solid so at least i'm not jumping in and making mistakes (yet).  I'm still trying to understand my financing options and what fits me best because I have a lot of equity in my primary residence but a home equity loan kills my cash flow.  One day at a time!

Very excited to get going and take action so i'll just keep looking at deals nightly until I find the right opportunity!

@Alexander Felice you’re exactly correct. I’m plannIng on using a 2nd mortgage on my primary residence to fund the down payment. When running my original numbers I hadn’t planned on that loan expense in the monthly cash flow. I was excited by the deal but now am discouraged because I thought I would be able to use that equity to my advantage. I still can just need to find a good enough deal to make it happen! Thanks for your thoughts

Good afternoon everyone!

I'm in the process of searching for my first deal on a duplex and trying to determine financing options.  I have plenty of equity built up in my primary residence and was planning on using that as a down payment.  When that 2nd loan payment is calculated into my monthly cash flow it goes from a modest $350 to negative.  

Am i missing something?  Are folks using this approach and waiting for a refinance to pay off the 2nd mortgage? Debt snowballing the 2nd mortgage asap to get it paid off?  I also was considering selling some of my after tax investments but then I would need to pay capital gains on that money.

I searched around the forum and could only find posts targeted at heloc vs. home equity loan so if i missed it and someone has a link I would appreciate it!

Thank you in advance for your advice!

Hello!

I'm very excited to be entering into the REI journey and have loved all of the content on here already! I work full time and am currently attending showings in the hopes of finding my first multifamily property around the Mpls/Stp MN area. My goal is to generate some passive income in hopes of diversifying and financial independence.

Although quite overwhelming to start (strategy/financing/landlord vs. ppt mgt/goals) I couldn't be more thankful for all of the great advice on this site.  I've thought of starting 4+ discussions now and after using the search function have found that the topic has already been discussed!

Very thankful for all of your experience and help!