Lifestyle unlimited

11 Replies

I have been listening to del walmsley for quite some time. I want to see if anyone in the BP community is a member of lifestyles unlimited and could shed some light on their experience. I have been a buy and hold investor for small multifamily and want to step up to the next level. My question is how much working capital is required to start investing with the program? Is syndication the only way to go to start investing in apartments?  I am trying to figure out a road map to go from residential to commercial. 

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@Harrison Liu Hi Harrison, congratulations on looking to move forward with your investing career. To answer your question, there are a lot of things the BP still needs to know. For example, how large of properties are you looking to buy, how much capital do you have to invest, etc. Most banking institutions will require 25% down on a 5+ unit property. You can find your ballpark purchase price by taking what money you have to invest and multiplying by four. However, there are many expenses that will come about with larger properties such as phase 1 inspections, lawyer fees, etc. You can do different things that will change the amount of working capital as well. Seller financing is one of them. This way you can get around certain things such as reserve requirements.

Syndication is also a great avenue to travel down if you know investors that are willing to invest in you. Consulting a lawyer is crucial to ensure you comply with all SEC rules and regulations.

Hope this helps!

Kenneth R. Reimer

Originally posted by @Harrison Liu :

I have been listening to del walmsley for quite some time. I want to see if anyone in the BP community is a member of lifestyles unlimited and could shed some light on their experience. I have been a buy and hold investor for small multifamily and want to step up to the next level. My question is how much working capital is required to start investing with the program? Is syndication the only way to go to start investing in apartments?  I am trying to figure out a road map to go from residential to commercial. 

 I'm a LU member. The answers to your questions are applicable outside of LU.  There are a few of these programs but the mechanics are all similar.  

Working capital depends on the deal. Some deal minimums are 25K others are 100K. Typically the larger the apt complex the higher the minimum. There are some small deals that investors do without syndication. Nothing wrong with a small membership LLC buying a 10 or 20 unit apartment complex. If you have the pockets you can take it all on by yourself.

The syndication is only needed if you require investor money to put together a deal. Syndication allow investors to buy shares in a deal without having to work in the deal. Every deal is different so you have to get comfortable reading private placement memorandums.  

Contact me if you'd like to discuss more. Other than being a member I have no vested interest in LU. I am not their employee. I am not being paid by them. I'm just a BP member that is also a LU member.   

Best wishes on your journey. 

@Alberto Camacho  @Kenneth Reimer Thanks for answers to my post! I have some questions for Alberto. How long have you been a LU member? Did you sign up for the PIG (if I remember it correctly) membership or just the $500 membership? Are you working with a lead investor or you have purchased apartment complex large or small by yourself? I know they are expending to other areas in the country. Do you know if they have any plans for city like Seattle in the near future? How was your experience with their two day courses? You can tell I want to find out more about them so the  more info you can share the better. Thanks!!!

@Harrison Liu :

 I am a preferred investor. Been one for over a year.  Closer to 2 years by now.  I do invest in deal syndication with other LU members.

I am not familiar with LU expansion plans so I can't speak to that.

Email me I'd be happy to exchange numbers and discuss in more detail. I will say my experience with other LU members has been excellent. 

Hi Harrison,

I'm a Lifestyles Challenge member in Dallas and have not yet graduated up to Multi-Family yet. But the last time that they pitched me on it the PIG was an $18K fee.  I'm sure that they offer some value but that's a pretty hefty amount of money for something like that. To each his own but I'd recommend networking with some Bigger Pocket members who'd probably be able to get you where you need to be without having to fork over that much cash before you've even dropped a dime into a property.

Disclosure: Executive Vice President of Lifestyles Unlimited

Looks like you are getting the information you need, but if you have additional questions and want to talk to someone on the Lifestyles Unlimited team I am the Executive VP of the company and am happy to help if I can. The Bigger Pockets community is here for you too. 

Just wanted to say thank you for your honesty Saturday morning in Concord, Ca. If I figure out how to expedite removal of a Bk from my credit report and get pre-qualify for a non recourse loan, I will join your mentoring group. The reason for the Bk is because my business partner divorce. I'm not ready for a new partnerships unless it's with you, not your employees.

Love your morning radio show.

Thanks,

Larry- Blackhawk, Ca.