All Forum Posts by: Alberto Camacho

Hi Jon, 

Welcome to BP. 

Best advice I can give you is to network at the REIAs. Don't get too caught up in the presentations. The real benefit of attending is found in the halls, meeting the seasoned investors. Bring cards and start shaking hands with everyone you make eye contact with. Bring any deals your working on. Since you've remolded historic homes I'm thinking you have some interesting stories to share.

My wife and I attend the Dallas REIA regularly. I was at the Grapevine meeting last night. I'm sporting a beard of late. If you spot me at the next meeting come up and say Hi.

 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. 

 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. 

Thanks everyone for the responses. You've all been great.

I'm now working with a local Colorado wholesaler. I'll update this thread if things change. 

I've been coming across a bunch of low equity subject to deals in Dallas. Most of these are pending foreclosures needing very minor rehab. The great thing is they come with financing so for just the down and mortgage assumption you could have a fresh rental. 

Those that are interested email me. 

Thanks,

Looking to connect with a wholesaler farming Colorado Springs. I'm working with an owner looking to sell asap. Happy to split the deal. 

From our conversations it seems the place is well cared for. Might be an easy flip. Contact me via email. Expect a JV if we're going to work together.

Thanks, Albert

Way too many assumptions here. In no particular order 

Find local REIAs and make contacts in the industry.

Connect with a realtor, get them to do a comp for you. You can offer listing post rehab if the deal shakes out. Get rental comps too. It will help on the sell side if approached by an investor. 

Find investor friendly contractors and get some rehab numbers.

Plumbing issues can't always been seen. Must have a plumber run some tests.

This all assumes you have the property under contract. You don't want to be wasting everyone's time. That will cut your career short real quick.

I'm not implying a thing, I'm trying to save you the pain many go through when first getting started. If your looking get involved, go to a local REIA and meet people doing it. Its not too hard to find someone to partner with.

Everything you need to know about doing a deal is right here in the forums. If it hasn't been posted all you need to do is ask. Teaming up with someone that is putting their own money in makes things a bit safer. 

I look at mentoring a bit different than most. I believe the real value in joining any mentoring program it's network. If your not ready to work the network your throwing away your money. 

As an entrepreneur mistakes are the backbone of education. I'm not suggestion you go all in without arming yourself but waiting to know all angles will just keep you from moving forward.

Don't take this wrong way but its taken you a year to get involved. Signing up for mentoring isn't going to get you started. There are plenty of people that pay for mentoring and never do a deal. 

I would recommend you team up with those that are doing. You have to bring something to the table in exchange for the shadowing.  I met a young lady the other day that started this process last month. Yesterday she went in 30% on a property with a partner. She's in her first flip just like that.  

I'm always looking for bird dogs if that interest you. 

If you could explain your missing resources? I'm no agent but depending on your response I may be able to help. 

If you'd rather not post here you can email me as well.