All Forum Posts by: Dan Gauthier

I have had a similar experience with their hold times. But honestly, I have stopped looking at Roofstock and similar sites because there are better deals to be had if you find a knowledgeable agent (and team) in the market you're checking out. I shouldn't overstate how easy this is, because I have yet to invest long-distance, but so far (making connections and researching) I have had a positive experience. I opted to start with a few local properties here in Arizona first.

@Samuel S., your question - whether a PPM is necessary - is more accurately whether a PPM is advisable, because a PPM is at base a risk management tool to disclose every little detail of your offering (yes, your raise as described would be considered an offering). The fact that your offering could meet a Reg. D exemption does not exempt you from distributing a PPM (there is no such requirement in the first instance), it exempts the offering from SEC registration.

As lawyers are commonly risk adverse, most will advise you to distribute a PPM. I recommend you consult with a knowledgeable RE/securities attorney to go over the pros and cons for your offering. If you're not already working with an attorney to help you draft your issuer entity's operating agreement, I definitely recommend this also.

One last comment: in my experience, knowledgeable investors will expect to see a PPM and, if you don't have one, it is often a red flag.

@Bevla Reeves and @Ryan Swan, thanks to you both for the warm welcome!

@Wes Blackwell

@Wes Blackwell, thanks very much for your reply. I've thought very much about your point exactly, and this is the main reason I'm hesitant to go OOS on my first deal. Mainly looking at other markets as they offer a lower financial entry and similar room for upside. But based on your insight and others, it sounds like that may not be a worthwhile tradeoff for investing locally. Appreciate your thoughts!

@Daniel Sherman, sorry, somehow missed your post before. I have family in the Tampa-Clearwater area and am somewhat familiar with the area. As for growth, Tampa has seen some strong job growth since 2009-10 time (see e.g., https://tampaedc.com/news/tampa-ranks-4-in-the-u-s-for-job-growth-since-great-recession/). I read a few articles about above average population growth, too, but am not having luck finding links for you.

@Jake S., will do. Thanks!

@Pamela Sandberg, glad to see another AZ attorney on here! Great to meet you. Yes, I've hesitated on moving forward OOS as I'm unfamiliar with those markets. The idea would be to get local contacts in the area first. But frankly would feel more comfortable getting my feet wet in my own backyard. Will certainly take you up on your offer when I have questions about the AZ market - thanks!

@Justin Windham Thanks, Justin! Appreciate the resources.

@Jake S.

@Jake S. 78 and sunny in Phoenix today. Afraid we may pay for all this beautiful weather with an extended summer, though. And how about in Minnesota? Still snowing!?

I have looked a bit at KC, but will take a deeper look now. I'd eventually like to get into multifamily as well - following Brandon's first plan sort of calls for this. I'd be interested to hear how you make the transition from SFH and duplexes to multifamily, particularly whether that was a purposeful transition according to plan or if it just worked out that way.

Hey BP community. Long-time listener and reader, first time poster. I am a newbie RE investor located in Phoenix, Arizona. By day I am a real estate and business attorney. My practice consists primarily of commercial, industrial and MF transactions, development and syndication. I represent buyers and sellers alike.

On the investing front, I am looking for buy and hold properties both in Arizona and elsewhere. For those of you who've read Brandon Turner's "The Book on Rental Property Investing", Brandon's plan 1 really appeals to me.

Looking specifically at Tampa and Fort Meyers-Cape Coral, FL, and St. Louis, MO. I am trying to focus on markets with projected job and population growth.

Finally, looking also purchasing tax liens in FL, GA and TX. 

I'd welcome connections with other investors and professionals, as well as any advice to help me get started. Thanks all!

-Dan