All Forum Posts by: Will Barnard

Jennifer makes a good point which is why you want to complete your due diligence on the property including any cuurent necessary repairs as well as potential future ones by identifying older and outdated items. Once this is done, you will limit the amount of repairs and of course you will not be the "free handyman" as you are getting paid through the many income streams we mentioned previously.

TJ,

I personally would and would recommend to you (if you were my client) to buy more with less down. The key is to buy right, manage properly, and to not over-leverage. 30% down is a very, very safe play, especially when you buy at a discount giving you even more of a cushion. I would recommend that you keep approx. $5,000 per home in cash for a reserve account (invest it in a liquid & guaranteed interest vehicle).
With the balance of the funds, you could buy 2 homes in the Vegas area. The "bread & butter" are the 1500-2000 sq. ft. 3+2 & 4+2 homes. The newer, the better. I am getting these for 1/2 of what they cost in 07', and approx. 20% discount from the true lowest dollar. With 30% down, you WILL cash flow these units, in fact, they cash flow with only 20% down.

Please introduce yourself in the member introductions & tell us a bit about yourself & what you do before making a post like this. It appears to be more of a solicitation without us knowing where you are coming from.

That is a good point Brandon & is what I advise clients to do. Invest in both as they are both on sale! Of course we can also buy at even larger discounts in RE locking in additional returns for the future, we can not do that in stocks. We can also apply leverage in RE, moreso than stocks & without margin call risks.

TJ,
There arte many lenders that would loan to poor credit with 50% down, in fact, you could even get a non-recourse loan with as little as 30% down on a rental. As far as your question of 50% down/50% cash, you would have lots of positive cash flow, but you would be giving up some leverage. What if you bought 2 with 30% down. Wouldn't your return be greater? - It would!
Vegas is a great market for a buy and hold strategy, rental demand is high, and you could sell via owner carry loans as people will pay premium for the non bank qual loans as well as higher interest rates, improving your returns.

Yes, my point exactly. There are some great courses out there to teach you how to invest, both stock market and RE, but this is not one of them.

Rick,
Yes we do.
Keep in mind that is of vital importance to accumulate accurate numbers on larger multi-family units. A simply mistake can cost a lot. I have a vast knowledge of computing the numbers on these types of units and have excellent software to assist me as well.
I would be happy to plug the numbers in for you and show you where you are at on your deal.
I can tell you that your purchase price and the number of units places you at $10,000 per door which is extremely inexpensive and gives you a very high cap rate even if the OE is 60% + 15% vacancy.
Send me an email of all the exact numbers you have accumulated and leave out the address for your protection. You may also contact me via phone during business hours on Monday if you wish.
My email & phone is listed on my website.

What is your expected offer/purchase price? You listed $320.00, did you mean $320,000?
If so, the numbers look good so far at that price.
PM me and we can discuss in detail.

Stay away and save your money!
That is teh best advise I can offer on that.
I have heard their presentation on multiple occasions and have seen it on TV. It is just another "secret" system to easy money with little effort and evn a cave man can do it.
Two words for that, Bull S%!*

If it were so easy and simple, why is it that every stock broker in the country does not use it to profit for their customers? The answer, because it is not true.

I am naturally motivated, and enjoy motivating others to take action as well as instruct and educate them on how to take action.