All Forum Posts by: Andy Vaughan

@brianbriscoe 50 is the new 30!

@Patrick Froehlich

I started at age 47 (I am 50 now). It is never too late. One of my clients and father of a friend didn't start until he was 58. He is 72 now and owns several SFR's and condo's (at the beach) free and clear and had invested passively in 3 of my syndications. I say if you are interested in it then do it and figure it out!

Has anyone successfully bought a property from a mortgage company that has already foreclosed and tried multiple times to auction the property? A SFR that has been on an auction site for 6-9 months and has never met the reserve is opening up again. I am wondering is there any way to do an end around and talk with someone direct at the mortgage company to buy it that way? Anyone have experience with this?

We have an apartment complex in Greensboro, NC.  I am in need of an honest, competent GC to renovate interiors.  Does anyone have any suggestions or could lead me in the right direction?

We did a syndication for purchase of apartment buildings back in June and the IRA custodian that was the MOST difficult to work with by a long shot was Equity Trust. I have 25 years in the insurance business and have worked with them in that regard with individual buying SFR in IRA but they took forever to disburse funds on this deal. Madison Trust was the easiest to deal with for whatever it's worth.

I am hoping some of you can provide ideas on how a partnership can be structured.  I found the home and purchased it and will provide all of the financing.  One of the strategies I am thinking about is partnering with a GC but need input on structure and % of the deal.  I started thinking we would do 50/50 but then someone said since I brought the deal and the financing that I should get more than 50%.  Not looking to be greedy but not looking to shoot self in foot either.  Any insight???

Ken,

I have read his book but that is about it.  I have and am looking into several of these guys that coach or mentor for multifamily syndications.  I got a lot out of his book but to me he comes on too strong with the upsale.  His guys call and email consistently trying to get me into coaching, seminars, etc.  I am still checking different guys out but am seriously considering doing something with Micheal Blank, J Massey, Rod Khleif or Brad Sumrok.  I hope things go well for you!

@Lauren 

@Lauren Bergon let me know what PM you chose and why. Also keep us updated on your satisfaction along the way. Thanks for sharing. 

I live in Louisiana but have 2 sons that live out off of 280 in the Inverness and Greystone areas. So, that is really the only area of Birmingham that I am familiar with. I am curious about investing up in the Center Point area. On Trulia and Zillow, there seems to be a number of potential deals on SFR in that area. Does anyone have any insight on this area for the BRRRR strategy? Thanks.

When looking at investing in condos, I have heard on the BP podcasts from different investors that you need to check on the financial stability of the HOA. How is that done and what steps are involved in doing that. Also, if anyone has any information about investing in condos in the Birmingham area and how they have performed historically compared to SFR in Birmingham, it would be appreciated. Thanks.