All Forum Posts by: Dan Rowley
Dan Rowley has started 0 posts and replied 202 times.
Post: Mag Capital Partners
- Investor
- Cary, NC
- Posts 208
- Votes 185
Quote from @John McKee:
7% is better than a DST, but look at mortgage notes as they provide a higher return and have no acquisition fees, capital calls etc.
It's true that you can get higher current return with notes, but there is no upside upon exit. Comparing Equity with debt is kind of apples vs. oranges.
Post: Mag Capital Partners
- Investor
- Cary, NC
- Posts 208
- Votes 185
Quote from @John McKee:
I do like the industrial sector and I can see the stability in it, just like you can with mortgage notes. I too care about the reliable cash flow and not so much about the overpromised value add. What kind of returns are you getting? @Jeff Fortuna
@John McKee - I'm receiving roughly 7% CoC returns for my two investments, with projections those will rise in future as they are able to realize contractual rent increases.
Post: Mag Capital Partners
- Investor
- Cary, NC
- Posts 208
- Votes 185
I have been invested with MAG on a single asset deal and a fund for several years. I feel they know what they are doing in the NNN lease space.
Post: Anyone has invested with Open door capital? How was your experience?
- Investor
- Cary, NC
- Posts 208
- Votes 185
Quote from @Jim Peret:
Sorry Dan I misinterpreted your post.
I invested in ODC Sunbelt Diversified Porfilio and 2.5 years in NOI. They also raising more capitol to cover the monthly loses which dilutes our shares. They're missed every metric. Vacancy rate, insurances taxes, interest rate, repairs and maintenance. One or two maybe but everything. It's unbelievable that anyone could be so bad at buying real estate. Unless you're partying in Hawaii and picking real estate without doing any due diligence at all. To top it off he's out selling guru stuff and has been. He should be digging his heels in every day to make his investor profitable. That is if he gives a Sh t.
Jim - yes, 100%
I feel like especially in these type of syndicated FUNDS, there were operators that raised a bunch of money and then rushed out to immediately deploy the capital - overpaying for assets at the peak of the market and/or using risky bridge debt. So, so it's not real surprising to see some of these results.... sigh
Post: Anyone has invested with Open door capital? How was your experience?
- Investor
- Cary, NC
- Posts 208
- Votes 185
Quote from @Jim Peret:
Dan,
Why are you acting like mismanaged ODC is the gold standard?
Jim,
I'm not sure you how you would interpret my comment to me I represent ODC as a gold standard. It's quite the contrary. I have not nor would I invest in ODC and RE: my comment - I was focusing in on the fact they are now offering a private credit fund, which is a very different business/investment VS. a syndication, and so I'm advising that potential investors should be wary of this.
Post: Grocapitus - Anyone have experience with them?
- Investor
- Cary, NC
- Posts 208
- Votes 185
@Manoj Mathew Is this allowed in the PPM-legal documents that your funds can be used for different assets/projects than were defined?
Post: Anyone has invested with Open door capital? How was your experience?
- Investor
- Cary, NC
- Posts 208
- Votes 185
@Hyun Supul I would be VERY careful here. If ODC cannot execute on their funds and are falling well short of performance expectations, then I'm not sure how any potential investor would feel secure in this new 'private credit fund'. As has been pointed out already, it's a different business model and do they even know to manage it? I would not envy investors who participate in this vehicle when the team has not track record of success with it. And a whole other matter is the fact they may use/direct some of these new funds to prop up their struggling funds...
Post: Should I pay off my primary residence mortgage or purchase a new rental property
- Investor
- Cary, NC
- Posts 208
- Votes 185
think of it as simple arbitrage. If you can earn more than 2.85% with those dollars then you should NOT Pay off the loan. And anyone can earn 3-4%+ minimum in savings account or money market (or treasury bond) with zero risk.
Post: 2 Capital calls in 2 weeks! Ouch
- Investor
- Cary, NC
- Posts 208
- Votes 185
This debate is like asking the question = are cars safe to ride in? The real answer is... it depends.
If you ride with an experienced, good driver then it can be safe. However, if you ride with an inexperienced, poor driver then it could be very unsafe. So, take your pick...
Post: Where are the Deals for 4plexs and Duplex's in Utah?
- Investor
- Cary, NC
- Posts 208
- Votes 185
Nate - that's right land jumped up for sure. I bought a few years ago in the 700-800k range, with the lower being total sq. footage around 4,000 and the higher being like 5,000+ sq. ft. These would now go for over 1M - 1.1M minimum and at peak a couple years back with lower financing were worth ~1.2 - 1.3M.