All Forum Posts by: Ken Breeze

Jeremy Woods great story! Thanks for sharing. It’s time you started laying out your journeys and adventures in a bigger Pockets Blog. From that it’s much easier to compile your book and the community can benefit on the way. Cheers, Ken

Hi Gabriel Rodriguez you could also consider investing with a multifamily real estate syndicator, have no extra work or worries, and make something like 9% CoC and 15% IRR as an example. $50k - $100k can get you started with most. Some only accept accredited investors some also accept non-accredited but sophisticated investors for their deals.

I can attest to all of your experiences mentioned above @Carrie Giordano. No matter the real estate strategy you're running. I have a few rentals, SFH, MF and vacation rentals in the US an Europe and shizz always hits the fan when least expected. Be mentally, financially and team-wise prepared so you can stay in the game.

Lessons learned in this case study:

Building up reserves are what prevent nervous breakdowns and heart attacks ;-) I'm sure @Omar Khan can write up a blog or two on this topic ;-)

Our chosen and vetted team on the ground is to thank for our being able to sleep at night.

It seems to ring true to many when @Jason Powell points out the "rule of waves" or "when it rains it pours."

If treated like a business, and thus properly insured, a fire damage might be a blessing in disguise. Yep, perspective matters @Scott Rogers

@Storm S. has a few good points.

@Nathan Gesner has a great example of why it's a waste of time, money and positive energy to look back and try to hold someone responsible for their mistakes. It's always water under the bridge and nobody wins. Take account of these mishaps as well. It's part of the game. Charge forward!

Due to hundreds of startup failures, I witness with my coaching, I will have to second @Jay Hinrichs and @Mindy Jensen in saying that being undercapitalized and/or not put aside reserves for when thunder strikes are one of the top ten reasons why most businesses fail. I wish people would spend more time learning or/and shadowing and ask and even pay for help before they pay the ultimate price BEFORE they hit the iceberg. Plan to be smarter than the rest. Then grow to play in the "Big Deals".

As a side note, as a minimum, In our mid- to large size multifamily syndication, we account for $250.00 per unit per month for reserves.

Thanks for sharing a very important example and lesson Carrie and know that you have friends and partners here on BP to fall back on and call upon to help you through a challenge. You're bold, shared your mischief, you deserve a hand - let's stand together ;-)@Carrie Giordano

Cheers, Ken ;-)

@Emily C. great statement and bold move. Congrats!

I stumbled over your post looking for everything "90 Day Challenge". It's good to see others "getting at it". It's hard for most to "stay at it" since real estate or most endeavors for that matter are a marathon and not a sprint. Many of us get stuck. Again and again. The nature of the entrepreneurial creation process. 

I wonder how things have been going for you and @Tony Castronovo since you first posted two years ago? Any news? Please do tell ;-)

I'm sure your journey is worth a blog series. Go for it!

Hey @James McCreary House hack - but with the end in mind. Meaning, purchase and calculate as if you would be acquiring the property not to live in but as an investment property. Based on your current and future lifestyle, you're probably not going to stay there forever - you're young and want to stay flexible. As you said yourself, purchase with the market in mind e.g. your future buyer or renter. 

Appreciation is nice but count on cash flow first, then tax advantages, appreciation is icing on the cake and is only powerful if you stay free to make the choice of when you want to sell - not must sell. Being free and flexible enough to sell when the market is up, is crucial.

An Airbnb short-term rental strategy might be a combination or lease option to purchase comes to mind and is another strategy that might be interesting to talk about. I have some experience in both. If you want to give me a nudge on those topics, feel free to send me a DM.

@Raymond Lewis  I don't have any specific referrals in the space you're looking for but you can just punch in "YOUR CITY or AREA" plus "ATTORNEY" into the search window above and check out a few bios and people's past endorsements to zero in on someone that fits your ticket. 

@Michael A Swidorsky I don't have any referrals in the space you're looking for but you can just punch in "YOUR CITY or AREA" plus "ATTORNEY" into the search window above and check out a few bios and people's past endorsements to zero in on someone that fits your ticket.

Wow @Tim Wang you got a huge reception going on here. Great stuff. I'll have to bookmark this page to get back to a few of the professionals here when I need help on our multifamily acquisitions in Texas this year.

I don't have any referrals in the space you're looking for but in general, when searching, you can also just punch in "YOUR CITY or AREA" plus "ATTORNEY" into the search window above and check out a few bios and people's past endorsements to zero in on someone that fits your ticket. The BP Plus or Pro level is well worth the fee and will give you way more general advertising, networking and search options to zero in on a micro level.

@Ali L.I don't have any referrals in the space you're looking for but you can just punch in "YOUR CITY or AREA" plus "ATTORNEY" into the search window above and check out a few bios and people's past endorsements to zero in on someone that fits your ticket. The BP Plus or Pro level will give you way more general advertising, networking and search options to zero in on a micro level.

@Colby Fryar I don't have any referrals in the space you're looking for but you can just punch in "YOUR CITY or AREA" plus "ATTORNEY" into the search window above and check out a few bios and people's past endorsements to zero in on someone that fits your ticket. The BP Plus or Pro level will give you way more general advertising, networking and search options to zero in on a micro level.