All Forum Posts by: Dmitriy Yeshin

@Ryan Faber

Hi Ryan. Let me know if you are looking for GC to work on your properties. As fellow investor I appreciate things like holding costs, vacancy rates and cost overruns so we keep all of those in check for our partners.

Cheers,

Dmitriy

@David Breitweiser

Hi David. I have a guy who does good work and is reasonably priced. I will send you request to connect and we can chat more if you'd like. Happy to swap advice and contacts since I am a small time investor myself.

@Christopher Prince-Barry

Hi Christopher. I have a guy who can do work for you for a very reasonable price. I can share pictures of a project he worked on recently for me. DM me your email.

@Kenneth Moerschel

Hi Kenneth. I am a partner in a construction company. If you are still looking for bids on your project, please let me know.

Hi everyone. I had a some questions about private syndicates. I know it is a lot but hoping somebody can help. - What are the liquidity options for investors participating in a syndicate? - Are the funds generally open-ended with no particular exit strategy? - What are the minimum investment requirements typically? - What is the range of expected ROI? - Are the profits distributed monthly, quarterly, annually? What is most common? - How soon after fund closes can one expect to see first profit distribution considering it will take some time to deploy funds? - any advice on due diligence steps investors should take? Thank you all in advance for any input.

Hi everyone. I had a some questions about private syndicates. I know it is a lot but hoping somebody can help. - What are the liquidity options for investors participating in a syndicate? - Are the funds generally open-ended with no particular exit strategy? - What are the minimum investment requirements typically? - What is the range of expected ROI? - Are the profits distributed monthly, quarterly, annually? What is most common? - How soon after fund closes can one expect to see first profit distribution considering it will take some time to deploy funds? - any advice on due diligence steps investors should take? Thank you all in advance for any input.

@Cameron Marmon you are definitely within your right to ask for proof of income. I actually always have a list of items that I request from each applicant ahead of time. See my list below. Whether or not you accept this tenant you should think about creating a similar list and provide it when asked. Sounds like your broker is more concerned about closing the deal but remember it is you who has to deal with the tenant afterwards. I don't use brokers for that exact reason. I want to meet the tenant myself and ask them questions. Often it is not the actual response but the manner in which they respond that makes me accept or reject a tenant. One more tip: internet is your friend. Google, Facebook, linkedin etc. Maybe he is married and wants to get an apartment for his "girlfriend" that's why he is hesitant to provide the info. If this guy is running a restaurant, check their Yelp reviews. They might be going out of business if their patrons dislike them. Also, getting a speeding ticket is one thing but it should not appear on any record if it is paid on time. If it appears on background check that's a red flag to me. If you are not completely confident in your choice - reject the application. You will be kicking yourself if you didnt follow up on the red flags. It could still happen that after all your questions are answered to your satisfaction, the tenant turns out to be bad but at least you can than feel better that you don't suck as a landlord and it is actually is the tenant that is bad. You did everything you could. Hope this helps. > 1. Completed rental application > 2. Government issued Photo I.D. > 3. Pay stubs (last 2). > 4. Tax return with W-2 Form for the lastest year. > 5. Bank statements (last 2). > 6. Credit and background check authorization.

@Andrew Michaud At first glance the numbers seem pretty decent $7000/$60000=11.66% return on investment. That's a pretty good rate. HOWEVER, let's take a look at the number of hours you are going to put in. So you mentioned the 30 mins per week mowing, plus let's say you spend 1 working week (40 hrs) per unit making improvements. That's already 40hrs*3units=120hrs, plus moving 0.5hrs*52 weeks=26hrs. Plus let's say you will spend additional 50hrs on property management (accounting, bills, taxes etc.). That's roughly 196hrs. $7000/196hrs=$35.71 per hr. I bet you make more than that doing construction for others. If your expenses are off as others are saying, that makes this deal even less compelling in my opinion. Is it really worth all the risk and headache?

@Michael Reyes That's some impressive data. Would you care to share the source?

Part 2 With some items inside the unit that could potentially affect my capex reserves. There are plenty of people willing to rent a condo over SFH for the right price. Some might even prefer it because of amenities and low maintenance. You can still make improvements to the unit to squeeze some cash flow. If you are willing to accept the property that doesn't cash flow much, I would suggest you take a look at condos in your area. If you have questions feel free to reach out. Good luck.