All Forum Posts by: David Monroe

I break everything down into 90 day chunks. I use a quarterly planner that always starts with the annual goals, even if we're in the 3rd quarter, setting quarterly goals, reviewing and setting weekly goals and then daily action steps.

What are you doing to help with productivity, time management, and/or achieving your goals?

IMS Investor Management Services, designed specifically for Sponsors with multiple properties and investors.

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@Austin Hendrickson After reading my post I realized I wasn't clear. You're correct, if the investor does not use capital gains money from another investment then they do not get the tax benefits from the fund. They can, however, still invest their money in the fund, but they will be liable for all capital gains incurred. For sponsors that agree to have this kind of structure will have to get a well qualified CPA to keep track of the investors tax benefits.

@Kelly Farley I just did a video on this last night and posted it to youtube and my vlog. 

The first thing you need is a list of owners. The most accurate and complete list of owners you can get is from a title company that will provide, or sell, you a farm report. You can get a report by property type.

The farm report will only give you the recorded entity's name and mailing address. 

If you get a personal name go to Spokeo and search for the phone number. Use the mailing address as an identifier that you have the right person.

You will have about a 60% chance of getting a good phone number and sometimes you can get an email address.

If the owner is a company, search the name of the company in the Secretary of State's business entity search website and look for the managers and members of the entity. 

Take that name and do the search above in Spokeo.

Some states like Texas may give you fits because they are non-disclosure states.

Hope this helps.

Multifamily Construction lenders I've dealt with in the Southeast will not lend on the land or the soft cost. So if hard cost of construction, the amount to actually build the improvements, is $10,000,000 they will typically do 75-90% LTC, depending on the strength of the developer. Your equity raise then has to include the purchase of the land, if you don't already own it, and the soft costs, your fees, engineering, inspections, permits, etc. 

In 2018 I didn't come anywhere close to meeting my goals so I decided to create a podcast where I share my annual goals for 2019 and my quarterly goals for the first quarter in 2019, and the actions steps needed to complete them.

Every Sunday I share my results for the previous week and set my weekly goals for the week ahead.

Monday though Saturday I review the previous days action steps and set my daily Big 3 for that day.

This is to my hold myself accountable to my listeners, because I don't want to look stupid in front of everyone, and for those that leave comments on their goals and results each day, can also be held accountable for achieve their goals.

If you go to the website in my signature you will find the podcast if want to check it out.

@Bobby, IM me and i will give you the contact info to a friend of mine, a Sperry commercial broker, that lives and works in San Jose.

Cash on cash accounts for money out of the investment, monies distributed, IRR accounts for the monies left in the investment, not distributed, thus the term internal. This is why it's so confusing to everyone.

In my experience IRR investors are usually institutional with safer investment plays. They rarely invest in under occupied assets, though they do like value plays on stabilized assets.

@Horacio Gutierrez you can go to NETROnline.com, click on your state, click on your county, and click on the link for your tax assessor, revenue commission, or whatever your local government calls their property tax department. If you have the address, name of the owner or parcel number, you can pull up the tax record.

You can also click on the GIS map from the County page, if available, and check the property acreage, measure the lot, check flood zones, zoning, and more.