All Forum Posts by: Account Closed

Can anyone recommend a good book, website, blog, etc. that dives into accounting and how to read/interpret/analyze financial statements (balance sheet, income statement, cash flow statement, etc.)?  

I'm trying to improve my asset management skills as I've recently started to review a lot of financial statements for apartment buildings.  Overall, I'd like to get better at analyzing the health of an investment.

Thanks!    

@Kim Lisa Taylor thank you for the direction.  I wasn't aware of past deals being advertisements but that makes sense. Great idea having an attorney do a quick review. 

It's great to move somewhere with opportunity, but you have to enjoy living there too.  

I'd go to a growing city (in terms of population and jobs) - this will likely benefit you from both a professional standpoint as well as an investment standpoint. 

If I was in my early 20s, I'd house hack as @Kristina Heimstaedt mentioned.  If you can eliminate some or all of your housing costs, you can really ramp up your savings.

@Praful S.  

What are your investment criteria?  This may dictate which markets you want to look at.

Do you have background in owning and operating multifamily?  If not, you may or may not want to start by owning long distance unless you have a good team in place.

I would start by establishing relationships with local brokers, which are a much better source of deals than loopnet. 

Dallas is good but very competitive.  Not sure about Houston after the hurricane.  I know there are some reports about post hurricane Houston.  

There are some solid midwest markets as well.   

@Todd Dexheimer Thanks!

@Brian Adams @Jillian Sidoti - thank you for the guidance.  

Where I'm not totally clear on the SEC guidelines is whether you can state "we partner with qualified passive investors" or "our goal is the achieve outsized risk-adjusted returns for our investors". In my mind, these statements say "what we do" and "what our goal is" but wonder if it could be misconstrued as "requests for money" and "offers of a certain return".   

@John Lenhart and @Carlos Flores - thank you for your replies and the information.  I'll take a look at the compliance information you sent along, Carlos. 

The following is from the SEC's website re: 506(b):

“General solicitation” includes advertisements published in newspapers and magazines, public websites, communications broadcasted over television and radio, and seminars where attendees have been invited by general solicitation or general advertising. In addition, the use of an unrestricted, and therefore publicly available, website constitutes general solicitation. The solicitation must be an “offer” of securities, but solicitations that condition the market for an offering of securities may be considered to be offers.

I understand speaking with a securities attorney is the best idea but was wondering if anyone could shed light on what can and can not be on your website if you intend to use the 506(b) exemption? 

@Jillian Sidoti - great advice!  Thanks

@Jeff Matlock you could also bring in an experienced multifamily operator to JV with you. That may give family and friends peace of mind when working on your first syndication.