All Forum Posts by: Bryan Darge

Hi Paris Williford! Super Newbie here as well so welcome and hoping we can all learn from others! IMO, I would not invest in such a deal. To me, if they are going out for funding outside of traditional avenues for funding, that tells me something went wrong. Either they are maxed out or the professional lenders see a problem. I have seen these 'crowd' funding type offers with ROI etc, and I have always run away from it. Especially in RE where the $$ is higher and the risk is much higher. Especially, like us newbies, holding back would probably be the most prudent thing you can do, especially as a newbie (assuming here as you are new to BP). Regardless of the numbers and the offer. I think the old adage applies, if it is too good to be true... but this is all just me. I am at 100% of not getting burned on these investment type offers, well because, I don't!! :)

I am interested to see if others have had a good experience with these types of investments.  I could be way way off in opinion. Best!! 

@Bernard Laureus yeah I lived for a short stint in Jefferson Park many many years ago, so yeah Rogers Park right on! I am actually directly west of the city, between Schaumburg & Rockford is Rt47, Im just south of that.

Hi @Andrew Park and thank you it is truly great to be here, and if I may welcome to you as well! I have not! Is it a good market? Have you taken the plunge into multi-family investing yet? In Memphis? I know Nashville has been booming, at least that is what my manager tells me, who is from there!

Hi @Jonathan Klemm Thank you!! I am finding it is a strong community, I have never seen this type of support before, I really appreciate being apart of this! Oh yeah Elgin, pass through it often for work!

So the single family is in Bartlett, and honestly I have not really restricted myself to any one single area or state really.  However, that may all change as I get better educated on off this.

Would be great to have coffee some time! 

Hi @Bernard Laureus and thank you!! I am near Pingree Grove (south of 47 & 90), how about you?

Thank you @Dmitriy Fomichenko !! Really appreciate the links -- they look like great resources -- will look at them soon!

Thanks @George Skidis I spoke with my account she said I would just make that window and have to sell by eod 12/31/2020 so I should be good! Thanks I was looking at that 1031 and it just didn't resonate with me for my current situation and glad you said something regarding that.

Also thank you for your sound advice about the investing with family members.  I had seen others on the forum who pooled their money together and started their re investing adventure.  Was not sure how it played out. But nonetheless thank you!

Can you PM where and what time Sunday night in Lombard? If I can get Mrs clearance I would like to check that out!

Thanks again!!

Thanks @Michael Facchini ! Be in touch soon!

@Kiera Underwood I have looked in the Illinois market, however the re taxes here are very high here and they have a tendency to increase quite a bit yearly lately.  I haven't ruled out my neighboring states or even south.  

Do you stay focused in Oklahoma?  How many units do you have?

@Michael Facchini would love to jump into the deep end with a commercial financed 5+ unit but will probably have to stay in the shallow end for a bit with 4 unit or less. I have great credit (have to for the line of work I am in).  I see several 5+ units I would just love to get into but realize it is a totally different investment with the commercial lending and may be a bit more costly with a potential for much downside.  The 5+ would be my goal.

I'm hoping to get about $70k from the sale some time in Feb/March 2020.  With a full time job I hope to have these managed and be arm chair, which will cut into the cash flow but couldn't imagine trying to do it on my own.  The single family I did manage on my own and it worked out well as we developed a good relationship right out of the gate.  We had a couple of bumps and bruises along the way but we worked through them and I have learned much from this experience and it really helped to decrease the anxieties about getting into this.

Do you have units yourself or do you focus on the lending?