All Forum Posts by: Chris Soignier

Thanks, Lane!  You rock harder!   :)

Investment Info:

Large multi-family (5+ units) buy & hold investment in White Settlement.

Purchase price: $2,950,000
Cash invested: $50,000
Sale price: $5,050,000

La Plaza Apartments, 83 doors - I owned a 5% stake in my first multifamily syndication.

What made you interested in investing in this type of deal?

The opportunity to earn double-digit passive returns and increase the value of the property.

How did you find this deal and how did you negotiate it?

I met the lead investor, who negotiated the deal, @ Lifestyles Unlimited.

How did you finance this deal?

Non-recourse agency loan.

How did you add value to the deal?

This deal was plagued with problems starting about 6 months in. I don't want to go into too much detail, but it started out paying 12% annualized distributions for 3 quarters, and then they ceased for the remainder of our ownership. Fortunately, we bought it at a really good price and enjoyed a nice tail wind from cap rate compression, so it was like a bad marriage with a happy ending.

What was the outcome?

Invested capital: $1,000,000
Total money distributed from this project: $2,262,000
Total return of the project: 226%
Invested period: 4.5 years approx.
Annualized return: 28% ROI

Lessons learned? Challenges?

Be sure you know who you're investing with! Ensure your values are aligned with theirs and that you're comfortable with their integrity, ethics, competency, and transparency. Get references from passive investors in prior deals if possible.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No, as I was a passive investor.

Propelio seems to have taken over as the most popular of these platforms for investors.   If I needed what it offered, that’s the one I’d use now.

A Solo 401k is the way to go, they have many advantages over SDIRA's as long as you qualify.  Even if you don't have any/enough real estate deals to deploy your capital right away, with the right custodian you can invest in publicly traded securities or anything else to the extent it's not disallowed by the IRS (collectibles and life insurance).

I've been @ eXp since 9/16, and it's been an amazing experience that I couldn't come close to getting anywhere else.  Thanks to the training and tech tools, my sales have increased significantly.   I've built a team of around 250 agents across 23 states and Canada, which allows me to be pickier about which clients I take on and create a better work-life balance.   I've accumulated a mid-five figure amount of EXPI - where else can you do that?  Happy to answer any questions about this great company!

@Kevin M., I've helped several CA-based clients buy investment properties in TX sight unseen other than walkthroughs via FaceTime or filming and uploading to YouTube.   If you end up in North Texas, I'd be happy to help you out, either in person or remotely. I derive most of my income from leading a team of 200 agents across the country and investments in 22 apartment complexes, so I work w/ buyers, sellers, and investors by referral only.  

Are you bound to a buyer representation agreement, and if so, does it cover this property?  (time, location, etc.)   If so, you'll be bound to your regular agent, if not, it's only right to use the agent who brought you the deal.

I'd never put up EDM after contract termination, or advise my clients to do so.

I'm a bit late to this thread, but I've now been with eXp for 25 months, and the rev share/stock has created financial freedom for my family and me. Yes, I sell real estate, but I've also made agent attraction part of my business plan, as it's very rewarding and I enjoy helping other agents create their own financial freedom.

It's not for everyone, but we must be doing something right given how we're disrupting the market and taking huge chunks of market share from our competition!

@Hiron Fernando , I'm not a CPA or attorney, so please verify my opinion w/ a professional.   IMO, for rentals, you don't need an S or C Corp. election.   W/o one in any given series. that series is a pass-through entity.  That's how all my MF investments are structured, and it works ideally for our needs.