All Forum Posts by: Account Closed

Ibrahim,

I have two complexes now and a third one under contract and they are all at or above 25% Cash on Cash Return. These have not been easy to find and have required me to be very patient. It will have been almost 4 years since I started looking to when I close on my 3rd complex.

How about you? What type of CoC returns do you shoot for?

Sounds good to me. I will be there.

Jeannie,

Are you looking for a fix and flip, buy and hold, and are you looking for a single family house or a multi-family deals?

I do work part time as a realtor in Denver, but am mostly a real estate investor. I usually only deal with apartment deals though, so if you just want a fix and flip single family, I probably wont be of much use to you. But if you are looking to purchase a small apartment property, I may be able to help you out.

Let me know. Talk to you soon.

Mike & Jeff,

I currently have an apartment complex in Minnesota and will be closing on another in North Dakota next week.

Also, if you guys have properties I would be interested in knowing what type of properties and returns you are getting in the current market. I can also let you know what types of returns I am finding if you are interested. Talk to you soon.

Nathan,

Did you mention the purchase price in your original post? If so I must have missed it.

In my opinion it would probably be a mistake to negotiate on all the points you mentioned. He is already offering some pretty good seller financing terms, there is no need to try to be a tough negotiator and stick it to him. Like you mentioned the downpayent is the biggest issue and I think you had a great idea by offering him a higher interest rate in exchange for a lower downpayment.

It sounds like this couple is getting closer to retirement age and has alot of other properties. So I would try to work out a win-win situation and maybe you can slowly take over their entire portfolio. Just my 2 cents. Keep us updated and good luck.

Rich,

If you are still coming in on the 22nd I would like to grab lunch or dinner with you if the offer still stands. I am sure many more people will be on board as well, but since I live in Denver let me know what time works best for you and hopefully we can make it happen. I look forward to meeting you.

I am originally from Dickinson, North Dakota which is a few hours from Williston and is experiencing the same oil boom. Unless you can bring in your own crew to build for you, you will be paying an arm and a leg to get anything built. It is also going to take twice as long as you think. There are not nearly enough contractors in the area to meet the demand so the ones who are there can charge whatever they want and are booked way in advance.

Also, as the others have said this could go bust anyday and there is no telling when. Alot of the people in town say some of the big companies are going to start leaving in 2012 and still others say it will last 30 years or more.

If you are looking to buy something vs. build something, I wouldnt even consider it. Rents are 4 to 5 times what they usually are, so that causes the prices of any rentals to be very inflated. If you buy now you better pay it off as quickly as possible, cause if it goes bust you are going to have to be coming out of your pocket every month to make the mortgage payments.

Alyn,

You mentioned that you and your partners were going to group all of your properties into a single LLC? Can you elaborate on this? What is going to be the ownership % of each partner and who is putting up the capital for this purchase?

I also agree with Jon on this deal and would not go anywhere near it.

Christian,

I used ACRE for my education as well. I thought it was very easy to follow, it had good practice tests, and I passed all my exams on the first try so obviouslty their material was accurate. Anson and I both commented on another post about realty firms in Denver, I am with Keller Williams. I looked at Your Castle as well but my main concern with them was how many agents they have, they do alot of market research though. I believe either one would be a good choice, but I do recommend ACRE for your studying.

Burt,

What type of investing are you doing? I am in Denver as well and just passed my licensing exams a few months ago. Just this week I signed on with Keller Williams Southlands. I looked at Your Castle as well but they have so many agents I think it would be hard to actually have meetings or get any help from any of the managing brokers there. When I met with Keller Williams I sat in the conference room with the owner and 2 managing partners for 3 hours and they answered all of my questions and concerns.

My focus is more on commercial real estate and I am going to work with other commercial brokers there and start teaching investing classes/workshops kind of like Your Castle does.

Also, since I currently live far away from the office I am not required to come to any meetings unless I want to.

If you have any other questions let me know and I will try to help you out the best I can.