All Forum Posts by: Travis Sperr

@Mitch H. I agree with @Dan Mackin on the mixing valve - although possible very unlikely the leak is between the mixing valve and the shower head - this shouldn't require tearing out all of the tile. 

@Michael Melchior Look up North American Savings Bank - I believe they are in KC MO.

https://www.nasb.com/home-loans/ira-lending/

@Daniel J. taxes, partnerships and entity structure - some of the most important pieces of investing and often over looked. Leave these burning questions to your lawyer rather than people in the internet. LLC is likely your easiest way to create an entity for a buy and hold partnership, but could be difficult to obtain financing in an entity outside of local banks.

Keep in mind that just because your family member is a CPA doesn't mean they understand the tax law around rental real estate. The biggest tax advantage in buy and hold real estate is depreciation, which is a phantom loss (meaning you take it as an expense but no money actually trades hands). 

Keep researching so you will have additional great questions for your lawyer. 

@Chris Johnson the Twin Cites REI you mentioned is a great free meet up. @Sean Blomquist hosts the meetings - good mix of new and seasoned investors. 

Attend as many of the meetups you can you quickly find which are the best fit for you.

Save more money then go for the 4 plex. You do not want to own 4 rental last with no reserves on hand, that is asking for trouble. 

It really doesn't appear you have the time or resources to get into wholesaling in this competitive market.  

I would be far less concerned about  desk fees and more interested in commission splits and support from the managing brokers,  until you have plenty of experience. 

@Michael Randle your general idea in how the LTV on ARV works is correct. I would be happy to connect and run through any other questions you may have.

 This doesn't surprise me at all - multifamily cap rates are so low and the number of units coming online that if I was holding apartments I'd probably sell too. 

@Jay Helms you asked specifically about Denver - there is no indication of a down turn in our market. The price run up has been driven by lack of supply, there is about 6 weeks of supply in the metro area vs what some would consider normal to be 6 months. Unless a downturn is considered to be only 6% appreciation rather than the 10%+ we have experienced the last 3 years. There is nothing that could possible change the supply quick enough to cool the market quickly. Mortgage rates are rising quickly, obviously affects affordability but we don't have affordable housing now :) and the rates even in the 5's are not a deterrent to buying.

SFR rents are so strong right now - again a function of inventory - that the properties still perform at the higher prices. I bought heavy from 09-12 and a few more in 16. For values to hit 08 levels again - not a chance.

Interesting post - I have felt this way before, but the fact is there is always something you can be doing - but if you don't enjoy yourself it is easy to get burnt out. It took me years before I could binge watch netflix and not feel guilty. Block your day in a way that you spend x amount of time on what needs to be done in your business, focus on your business during that time without distractions. When you know how much time you need a day to no leave any loose ends then you will be able to relax knowing you have completed what you need to and when your next block of time is to focus again. 

Good Luck!