All Forum Posts by: Brent Robinson
Brent Robinson has started 2 posts and replied 5 times.
Post: What do you think of syndicate sponsor Goodegg Investments?
- Posts 5
- Votes 1
Quote from @Chris Seveney:
@Audris Tien
It Is known in the industry - read the website - logically two people could not manage $1.4B in real estate? That would take a huge team. (If that number is accurate)…
Post: What do you think of syndicate sponsor Goodegg Investments?
- Posts 5
- Votes 1
Quote from @Adrienne Binder:
Quote from @Hyun Kwak:
Jason or Steven, would either of you be willing to post an update on your experiences with BAM and Goodegg - I am looking at both and wondering if things are still going well with your investments?
We invested with both companies in 2021. BAM is consistently paying out monthly with Class A shares but class B shares stopped paying out almost immediately with the interest rate hikes. However, all properties in the funds are stable and we still feel pretty confident that things will pan out well.
Our biggest gamble in all of our investing was with Goodegg. We placed our biggest bet on a single property, class B shares. Like our other class B shares (we also invested in Praxis), they stopped paying out pretty quick when the interest rates when up. They have been incredibly transparent but they are currently deciding on a capital call or selling the property at a major loss (70-80%). I’m praying they opt for the capital call and someone has more to invest (we don’t). The loan has come to term and they can’t maintain the property and the current interest rates. BAM and Praxis have definitely managed the situation better at this point in time.
Do you have an update on the Goodegg investment?
Originally posted by @Matt Crusinberry:
@Brent Robinson, A single family home consist of a single, duplex, triplex, and quadplex, and the VA loan will cover down on these type of properties if you occupy one of them. I hope this helps, and good luck!
I was talking about construction loans. Plenty of lenders will lend for a building that is already built and plenty will loan for the construction of a single-family home but not a multi-unit one. None that I have found so far.
Post: District of Columbia’s Housing Authority’s Housing Choice Voucher
- Posts 5
- Votes 1
I'm not sure how DC’s HCVP (section 8) works when it comes to rental rates.
For example, the HCVP rent's listed on the website (http://www.dchousing.org/rent_hcvp.aspx/default.aspx) for Deanwood is $2,030 for a three-bedroom with no utilities. Does that mean anyone that wants to live in Deanwood with a voucher can receive up to $2,030 a month if the property just passed the basic inspection? Or, is that the max and there's a sliding rate that is determined based on other factors?
Thank you for any help in explaining it to me.
I have tried looking around for a single close construction loan for a multi-unit building. I have access to a VA home loan and plenty of banks will fund a construction loan using the VA. But it's only for a single-family home.
Is there a bank that would do this or will I have to do a two close construction loan?