All Forum Posts by: Account Closed

Gary, I think I know what you are talking about. You want an SEO site that potential multifamily investors AND sellers can enter their email for a free ebook or report on REI or the local area or something (anything to get their email) and then the site will be building your list of potential buyers and sellers while you sleep! I have those setup through Clever Investor and they provide all the special offers and even pre-made videos. I was wondering if there was one for multifamilies as well. You can see what I am talking about by going to webuycaliproperties.com Hope that helps.

@Dominiqe Ware

 I would like more info on the property as well. Who is managing it? Is it at full occupancy? What are area rents? etc.

I would like to know how it will be managed as well.

Grant Cardone is a Master at taking massive 10X action! He inspired me to really get serious about not only taking action but committing BEFORE you really know how it will work out. CLICK HERE for the amazing BP podcast with him. He caused me to get brutally honest with myself. I have been "talking" about REI for over a decade but the only action I was taking was buying more programs, books and attending seminars. After listening to the podcast, I bought a list of absentee owners through ListAbility.com, bought the materials for my bandit signs (and MADE THEM), put them out one weekend, sent out a direct mail piece to my list, created squeeze pages to get sellers and buyers to join my list and went and walked some properties. I haven't bought any properties YET, but I feel he has given me the inspiration to go from researching to DOING! I have spoken with sellers, lenders, brokers, title companies and agents. I am in the game now! This new mindset allowed me to take advantage of my recent visit to my folks out in Arkansas. Turns out that there are some big things happening there with job growth and a new Medical School. Don't get me wrong, I still work my job as a chiropractor in SoCal, but now I have a vision for what I want my real estate business to be! Putting that out "into the Universe" has brought all kinds of great opportunities to me. One of my old classmates, I discovered, has over 140 rental units and works back in Arkansas as a broker! I am working diligently with him on finding great opportunities in this emerging market. I have a passion to learn but now I want to learn from those that are DOING what I want to do! I constantly continue to research and learn about this amazing industry but it seems more real now because I am speaking with people that can give me what it REALLY takes to get this done. My ultimate goal is to buy a lake cabin for my parents in Cookson, OK by lake Tenkiller. Property there is super cheap and we have so many memories it's ridiculous! I am learning great info from @Jeff Greenberg on syndication and will even get my RE license if it will help me get to the goal faster! I have found a great agent here in the OC that has been investing for over 30 years and he has been a priceless resource. Within the next two years I am going to have a townhouse in Orange County, a package of 7 duplexes in Arkansas and the lake cabin for Pops. From there it is going to be multi-family properties in whatever emerging markets I can find. THIS STUFF IS AWESOME! I guess the reason for this post was to encourage people that have been stuck like me, reading and studying, to shifting their mindset to MEETING PEOPLE THAT DO WHAT YOU WANT TO DO. They are everywhere if you just continually talk about Real Estate. They will suddenly appear in your life and often assist you to achieve your dreams! Never stop studying, but put your energy into DOING, NETWORKING and bringing value to all those willing to help.

I used listability to generate over 1500 absentee owners that I used to send my direct mail piece to (a postcard). I got a few responses but nothing serious. I am in California so it is a bit competitive here. The key is that listability lets you save your lists (up to 50 I believe) so you can continue to send to them. Consistent mailing is the key to getting a good response. The list of 1500 cost me $750 but all it takes is one deal and that makes up for the cost and then some! Listability is a great way to find specific owners by zip code, city, LTV on their property etc. You want to focus on owners that have an LTV of at least 50% so you have more flexibility when negotiating with them on price. One of the owners I spoke with had multiple properties and owned them all free and clear. He had purchased them years ago for around $60K! Now he wants $450K for the property! Direct mail as well as a website "squeeze page" is a great way to get people onto your email list and makes you appear like a real pro. They recommend you send out at least one mailer a month. If that is cost prohibitive for your situation, just send what you can. You never know when that big deal will show up! Hope that helps.

I have an opportunity to purchase the MAJORITY of a townhouse complex in Fort Smith, Arkansas but still don't quite understand how to use the analysis calculator to determine if it's a good deal or not. There is space to build additional units and I went to school with the son-in-law of the man selling. Another classmate of mine is an investor and broker with over 140 units in the area. Here is a link to the info HERE Can someone please walk me through where to input the numbers in the calculator? It doesn't seem to have a pro forma with easy to calculate numbers but rather has been analyzed with a spreadsheet formula. I need to start analyzing a deal a day so that I can get to a point where I can see a good deal quickly. The first calculation is done with what the seller is asking and the second (at the lower price) is done with what my broker friend thinks it is really worth. 

@Bryan Hancock Have you worked a lot with them in the past? How does it work exactly? For example, when do investors get paid? I know they can do an offering based on equity or debt and debt seems to be the better of the two if I want to keep all the equity in the property but the specifics are a little vague.

@Justin Cooke so satisfied or happy with their service? Would you hire them again? Are they handling ALL your management?

What about Trinity Multifamily property management company in Fort Smith? I am reading some mixed reviews online...mostly bad. 

Does anyone here have experience with realtyshares.com for syndication deals? They charge 1-2% as far as I can tell. I am looking to buy an apartment complex in Fort Smith, Arkansas in the 1-2M range.