All Forum Posts by: Alan F.

Went back to my networking pool and found someone! Thank you for this advice. 

I appreciate that Alan! Thank you. I agree with you. 

Hi everyone! I am wondering if anyone local to Tacoma, Seattle area would be willing to share receipts or cost information from contractors, and projects. I am trying to build a database of local rehab costs. The more detail the better.  Any information you are willing to share about past projects from addresses, scope of work, estimates, line item breakdowns, materials costs etc.  I would be so grateful. If anyone needs a boots on the ground inspector to do walkthroughs or gather info for a property you don't have time to check out or if you're out of state. Reach out! I'm happy to go walk the property and take photos and provide a simple report of the information you want to help you make a decision.

 In general - yes. I think you really have to be absorbed into the forums to start to understand who is here to just learn and converse and who is here to make a profit. I'm generally here to learn and converse, as I have nothing to sell. I don't advertise any services. I feel pretty free to tell someone when I think RE is not the greatest investment. 

I think the way you sort it out in the forums is by getting to know who's who and what's what. I have a small cadre of people who I keep in my pocket to see what they're up to and what they have to say (you're in the cadre, btw). Guys like Jay who has done things like been a guest speaker in our mastermind group, Dave Foster who knows 1031s and can help with them but doesn't push anything, Michael Plaks who provides all kinds of good tax info unprompted. It's certainly possible all of those individuals and others are just working on burnishing their interests so people come to them to buy stuff, but in general if you're anywhere reasonably active here without trying to sell people on investing in you, you're not likely to be a pitchman. 

@V.G Jason I've been wondering where Carlos went as well. Hope he is ok as it seems odd for him to go cold turkey on this forum. 

@Alan F. I am sure@V.G Jason has given great information and opinions on economics and things he knows a lot about.

I myself don't give my opinion about land investing (even though I own land) or large multifamily investing (because I've never owned a multifamily larger than a 12-plex) or commercial real estate or mobile home parks or luxury short-term rentals (even though I own all of those). Just because I own something and am familiar with it, doesn't mean my opinion is relevant or even helpful. I don't have that much self aggrandizement to think my opinion is helpful about things that I am not an expert at. Likewise, I don't listen to the opinions of others who are not experts about the specific subject either.  I think it makes someone look foolish to state something is a bad investment in a forum where many people, operators and money partners alike, have made lots of money working together on that specific type of investment.

Whereas I may not be an expert at the things that I referenced above, what I am an expert at is buying properties under market value in 5 cities in Arizona. Then we get them fixed up with crews that my project manager runs and we fill them with tenant buyers. We conservatively make about 70k in profit on each of them with about a 90% success rate which I think is pretty good in a competitive market. 

What I am looking for in this post is to get good feedback from people that don't have a "Big Hat with little Cattle" or a big mouth with a small portfoli. Or in this case little to no experience in partnerships. 

 Yes I meant AirBnb and Mid-term rentals, rent by the room, glamping (although I probably wouldn't go that route), buying commercial RE and running a business (for me that would be a lot of work with a W2 job and buying property locally or leasing out a space is expensive here). I know a few people involved in syndications and someone asked me if I wanted to participate and I passed. I would prefer to have control over my own property.

If I don't want the stress of RE I'm just going to buy index funds/stocks/bonds - much easier to liquidate than getting back my money in a syndication that's not doing well.  I'd consider real estate debt funds and private lending but that's not on my immediate radar right now. 

I think you have to find what your strengths are and what your risk tolerance is in different areas of RE and look at your entire financial picture.