All Forum Posts by: Mike Lorence

@Charles Seaman - great perspective.  Thanks for your insight!

I interviewed a guest on my podcast recently who said he is no longer investing in large multifamily right now.  He's concerned that we are too far into a seller's market. And he said "I just don't know where this market will be in a few years."  Do you agree?  Why or why not?

Got it, Steven.  Thanks!

Hey @Jay Hinrichs - thanks for mentioning me.  We're still here in Florida and going 100 mph.  Been underwriting just about everything here in Florida for multifamily.  If there's anyway I can help and serve you, let me know.  

@Patrick Flanagan - please DM me to take it offline.

@Annie R.

The riches are in the niches. If you look at the Forbes 400, the most wealthiest people in the world, you’ll find that they made their money through extreme focus on 1 or 2 vertices (excluding those who inherited their $). Wealth comes from leverage. Leverage is created by specialization.

Have you considered multifamily syndication as a way to increase your returns or reduce your risk or do both?

It's generally not advisable to put your name in the LLC name. Why? If there is ever litigation in a related matter, and the plaintiff's attorney does an asset search, or tries to get a charging order against your LLC, it is probably better your name is note associated with the LLC itself. Some states allow your to NOT disclose the name of the members which makes privacy even better. Also, if you ever go to sell the stock of the LLC (not an asset sale but a stock sale), you probably don't want the buyer of it to operate a company with your last name on it. Just my $0.02.

@Annie R. - many people have been trained to believe that diversification is good.  The flip side to that coin is worth consideration. Diversification is for those who are not fully informed.  They use diversification to control for lack of knowledge arbitrage.  Andrew Carnegie, the world's first billionaire said "put all your eggs in one basket.  Then watch it like a hawk."  Warren Buffet often quotes that.  We are putting nearly 100% of our wealth into Florida multifamily for this reason.  I picked up and moved to Florida to be able to invest locally and watch the properties like a hawk.  Most are not willing to go through the pain of uprooting their life to take such a drastic approach.  Regarding syndication, you might check out the multifamily forum.

Do NOT walk.  RUN the other way.  :)