David Beard

64 influence

Cincinnati, Ohio

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IM:
Profiles:

I'm a 20-year veteran in a corporate role with an international insurance holding company. I'm targeting the transition out of the office environment into a full time real estate investing career. Investments to date have replaced over half my income, and I hope to replace the remainder by the end of 2012.

Experience

Limited but growing rapidly, though carefully. I've purchased 18 units (7 properties), and with three partners have also acquired an additional 40 units, including a 21-unit apartment complex rehab project.

I've had experience in the distant past in retail & commercial banking, as well as residential mortgage lending.

Real Estate Goals

Given job uncertainty in Corp America these days, I'm positioning to put together a portfolio of SFRs, 2-4's, and small apartment complexes that will produce at least 15k monthly cash flow (using 50% expense rule, of course).

Am evaluating opportunities to also buy in as a principal, or start a RE-related business.

In 2012, plan to start flipping as a complementary business to buy & hold.

Currently Seeking

Blocks of residential units with net cap rates of at least 14% in solid blue collar areas. With good teams in place at this point for acquisition, rehab, and property management, am interested in turnaround/rehab projects of small-to-moderate sized apartment projects that will gross rent returns in the 35-50% range. Am also buying SFRs at 30-40% gross rent yields on purchase+rehab.