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All Forum Posts by: Travis Watts

Travis Watts has started 11 posts and replied 237 times.

@Dan Kenney Hi Dan - I invest passively (as a limited partner) in apartment syndications throughout Florida. Feel free to reach out anytime if this is what you are interested in. 

Post: Multifamily newbie looking for advice

Travis WattsPosted
  • Investor
  • Florida
  • Posts 247
  • Votes 245

@Kamlesh Kukreja I agreed with @Todd Dexheimer and @Taylor L. 

#1 Education (books, blogs, podcasts, online conferences)

#2 Networking (In-person meetups, conferences, groups)

#3 Mentoring (If you decide this is a path you wish to pursue, then seek a mentor, coach, paid training program)

I have been a passive investor (LP) for 5+ years and I was on the active side of RE 6 years before that. Active and passive investing both have pros and cons and various risks associated. The most important aspect is which suits YOU best. "An investment in knowledge pays the best interest" - Benjamin Franklin 

@Melanie Stephens Great topic. I am a passive investor (a limited partner) in multifamily syndications. The biggest lesson I have learned over the years is how important the general partners are AKA The Team. At the end of the day, when investing passively in other people's deals, you are mostly making a bet on the team, their track record and their ability to execute a business plan. To answer your question, I invested about 5 years ago with a group who had lots of optimism and confidence but lacked the necessary skills to properly renovate and manage a large apartment building (400-units). So many things went wrong with the project I can't even remember half of them, but some included distributions stopping, very poor transparency, delayed communication, one of the general partners suing the other, and an unexpected sale of the property years before expectations. I can't complain too much because we (the limited partners) actually ended up making some money when it was all said and done, but what a ride! This experience led me to clarify my investing criteria and taught me so much about people and the importance of teams.

Post: Is college worth it ?

Travis WattsPosted
  • Investor
  • Florida
  • Posts 247
  • Votes 245

@Nathan Smith Great topic. Thank you for posting this question. I recently wrote a blog post on this topic and crunched some example numbers comparing college tuition costs vs investing. The post is called "Go to College or Become an Investor? – Check Out These Numbers!" https://www.biggerpockets.com/... While this is not advice as to whether or not you should go to college, it does provide an interesting perspective to think about. Enjoy

@Account Closed Great topic. Thank you for posting this question. I recently wrote a blog post on this topic and crunched some example numbers for a visual reference. The post is called "Go to College or Become an Investor? – Check Out These Numbers!" https://www.biggerpockets.com/... Enjoy

Post: Starting while working 60 hour weeks

Travis WattsPosted
  • Investor
  • Florida
  • Posts 247
  • Votes 245

@Ryan Guffey So many memories started flooding in when I saw the title of your post. Thank you for posing the question. I began investing in SFH in 2009 and by 2015 I had decided that the "hands-on" time commitment was just too much for me to handle. I used to work in the oil industry, 14 hour days, 7 days a week (98 hours total). I feel your pain. In 2015 I switched to investing passively in multifamily real estate and I still use this strategy today (syndications/private placements/REITs). While it may not be 100% "passive" it is far more passive than the flips, vacation rentals and the buy and holds I was doing with SFHs back then. The best advice I have for you is to self-reflect and evaluate your strengths, weaknesses and what kind of time commitment you are willing to put in...ahead of time. That is something I failed to do early on. I recently wrote a BiggerPockets blog on this topic called "What Type of Investor Are You? – A Quick Self-Awareness Guide" https://www.biggerpockets.com/...To Your Success Ryan.

Post: Denver Investment Market

Travis WattsPosted
  • Investor
  • Florida
  • Posts 247
  • Votes 245

@Jen Tabernacki Great point. I live in Denver and Orlando. Very familiar with those markets. My favorite Real Estate Guys quote: "Live where you want to live and invest where the numbers make sense". Couldn't be more true. I no longer hold any real estate in Denver, but I do invest in FL and TX quite a bit. It really depends on you and what you're trying to achieve, but as far as Denver goes in 2020, my wife and I chose to rent vs own.  

@Scott Blackwill Great to re-connect with you. I've invested in 30+ multifamily private placements as a Limited Partner, I'd be happy to share with you some of my K1's for educational purposes. Feel free to DM. As for your 1031 question, it is best to seek advice from a tax professional/CPA. However, I'm happy to discuss how 1031 exchanges work (generally speaking) in the industry in regard to syndications. 

Post: How are September rents coming in

Travis WattsPosted
  • Investor
  • Florida
  • Posts 247
  • Votes 245

@Eric Bilderback I invest in class b and c apartments as a limited partner in other people's syndications. My portfolio of 30+ deals (mostly in TX and FL) has marginally been affected since COVID. Average occupancy down a couple of points and average collections down a couple of points. Hope this helps with some perspective in the multifamily space. 

Post: Fastest route to $10,000/Month Passive Income

Travis WattsPosted
  • Investor
  • Florida
  • Posts 247
  • Votes 245

@Matt J. Good topic. I used to do flips and active SFH. I switched to multifamily investing in 2015. Though I am a full-time passive investor in multifamily syndications, there may be a potential in sponsoring your own deal or syndicating yourself? A good book if interested "The Best Ever Apartment Syndication Book" This book covers the active and passive side of investing in multifamily. Best of luck.