All Forum Posts by: Calvin Lipscomb

@Ray Harrell I am not an inspector... I am an investor! I am just giving my perspective.  Sounds like @Calvin Lipscomb figured it out either way. 

 Believe jay said he put $10,000 into it (200 shares)

@Calvin Lipscomb access to information is the difference.  Established credibility and financial history is the difference.  You can't honestly tell me that there is more transparency in a startup fund than a multi-billion dollar multi-national, publically traded company.  Furthermore, GE is certainly a convenient selection to articulate your point. While GE is down 50% YoY, the S&P500 is up 12% which is a much better assessment of the market than GE.  To select GE would be like me selecting Boeing, which is up 90% YoY.  I do agree with you in that I am fortunate to have access to doing things others are not capable of, like taking risks and investing in funds like these.  That's why I encouraged people with as little as $500 to invest it in the stock market or bonds instead.  All the information they need can be found online. 

@Ian Ippolito - I wrote Tulsa Real Estate Fund. Yes, 5.5 is higher than normal, but the fund isn't taking any other fees other than that fee - no acquisition, no disposition, no asset management, no refinance - nothing. 

I guess I'll be the first to chime in.  First thoughts.... yikes. 

  If you are going to do several thousand dollars, it might be better to look at how people on BP are operating and buying properties.  I know they often have a preferred return and then share the profit, but the profit can effectively become whatever the fund wants it to be, which I would assume would more often than not, be nothing.  This results in you basically lending the fund money at an 8% rate which (especially in increasing interest rate environments) could soon be relatively cheap money.  I don't have any issues with these people, and I don't know anything about them, I just am more of an advocate to learn about what you are putting your money into versus giving it to someone else and trust them to do it.  If you are going to do that, then at least put it in something that's established, reputable, and well regulated like the stock or bond market.

I’ve been researching syndication deals and came across this. 8% preffered isn’t a lot, but most syndication deals you make your money 5-10 years down the road when the property is sold, but their answers was very vague on this topic. 

I also thought it was illegal to advertise syndication deals and they are doing a lot of that. 

@Account Closed I am looking to owner occupy a multi-family with 2-3 units. It is a first time buy. Keeping the budget 220k and below. I have found a few good deals in the area I am looking that meets my budget as well. The homes in the area I am looking are older and would need a little TLC. The majority of homes in the area are from 1800's - early 1900's. COC looks great as well as cashflow for the properties I have narrowed down to. The only issues in my way is a strike on my credit which is in dispute due to being an account that doesn't belong to me and the other issue is being 1099 and really good at write offs

@John Warren, and the condo was built in 2006, not 1923!