I started reading Bigger Pockets as part of research that I'm doing for an upcoming book, but have been so inspired by what I've read, that I want to get involved as an investor myself. I've got some capital to spend, but I live out of the country (Jerusalem, Israel) and am intimidated to jump in without someone holding my hand. I'm looking for a coach, someone who has done numerous deals and can walk me through all of the steps. I know the community is very generous with free advice, but in this case I want to hire someone great, who I know will be there with me the entire journey.
The coach should have already done quite a few deals
Should know about doing long distance deals
Should be experienced in building a team
Should be experienced in finding and vetting great deals.
Are there such coaches out there that people can recommend?
Thanks so much,
Updated about 3 years ago
Interested primarily in multi-family.
@Dave Mason - Not quite clear from your post - What kind of deals are you looking for ? Single family, Multi, Syndications or something else ?
Thank you for that note, Saul. I had meant to say multi-family and had neglected to do so. I've now updated to include that.
@Dave Mason Hi! I would like to recommend myself for the following reasons
1. Have done hundreds of deals as a Realtor
2. Work with international clients on the regular to include, Kuwait, India, France, Iran etc..
3. I have my own investments
4. Depending on where you’re looking to invest I can assist in the Midwest(great rental market) and the south.
We can chat if you’d like to pick my brain.
@Dave Mason all you need is a good property Management company in a good area to buy.
They will be set up with everything you need and will walk you through the entire process.
They will also be able to find, analyze,
And participate in a walk through on site. They should be able to get you in a cash flow positive property.
Thank you @Mathhew Irish-Jones for the advice. You're echoing what I've heard about building a great team. However, one of the reasons I wanted a coach was to help walk me through the process of building a great team. How can I tell how good a property manager is? Where would I go about finding the best?
P.S. why is it that when you tagged me it worked, but when I tagged you it just came out as straight text? Is there a trick to tagging on BP?
You can start on LinkedIn to find property managers. I would recommend those with industry certifications like CAM certified apartment manager by the National Apartment Association(NAA) or CPM certified property manger by Institute of Real Estate Management (IREM).
Updated about 3 years ago
@Dave Mason In addition to buy and managing MFH yourself (through a property management company), you can take a different route and invest in MFH syndications. This allows you to be passive and you don't need to hire a coach.
I would be happy to help. I live in a very rural area and only invest in large city's so building a good team to work with is very important. Please contact me here and we can set up a time to talk about this more
@Dave Mason - I have owned SFR in the past but found it to unwieldy and far less lucrative than expected managing long distance. I only invest in syndicated investments now, amongst them numerous MF investments. If you are an accredited investor, I would highly reccomend this option as a foreign investor in the US. It will also allow you to diversify the same capital across geographies, asset classes and types, instead of sinking all into one or two buildings.
Happy to discuss further if of interest.
@Saul L. what you are saying really speaks to me. I'm really seeing how being accredited can make a huge difference. At this point, the vast majority of my net worth is tied up in my business (Knobs.co) and from what I understand, getting accredited based on business valuation is 1) difficult and 2) I'd need a fairly generous valuation to get myself there. If you (or anyone) have any thoughts on getting accredited in my circumstances or making similar investments without accreditation, please let me know.
@dave mason If you qualify its really not difficult at all to get accredited. All that is required is a simple letter from your CPA, advisor or attorney confirming the criteria that qualify you. If you dont qualify there are other options out there (admittedly far fewer but never the less). Suggest you start by taking a look here:
Feel free to PM for more info.. what markets have you considered?
@Dave Mason there is a great real estate meet up here in Jerusalem where you can find all types of real estate professionals, primarily focused in the US markets. I have made great connections there and would be happy to add you to there email list.
@Ari Lasky , please add me to that list, I'd love to meet others in Jerusalem. Thanks so much.