All Forum Posts by: Gino Barbaro

@Max Emory

We use a company called Scale Virtually, and they do a good job vetting their VAs, and I agree with you, I wouldn't hire a VA for high level important tasks, but reporting, such as our weekly pulses, general ledger stuff, they work well and free up our employees to do other tasks

Gino

@Nelisa Lee

It sounds as if remote team members is a step up from VAs. I guess it's all about the marketing. 

thanks for your feedback

Gino

@Drew Sygit

thanks for the feedback. We are starting to use VAs for low level work to free up our employees for more important tasks.

Gino

@Daniel M.

Dm me and I will send you over our due diligence checklist.

Gino

@Geoffrey MacDougall

DM me and I will connect you with a couple members in our community.

Gino

@Joshua Christensen

They were part of our community briefly. They try to source deal flow, and raise the capital for the deals. Just make sure you go through the contract they present. It is rather confusing, and I would have your attorneys go through it as well if you decide to proceed.

Gino

@Jenni Utz

Great post. It is probably the most critical component of investing in multifamily. We call it Buy Right Finance Right & MANAGE RIGHT. The opportunity in this part of the market cycle is investors who do not know how to operate.

It is not just valuation with renovation, it is valuation through operation.

The problem is it just isn't a sexy topic. People would rather focus on acquisitions.

I compare it to having children. I have six kids, lots of fun having them, but the real work comes in raising them. Buy your properties and care for them!

Gino

@Tanya Maslach

There are tax implications, and a penalty. I would take a look at Self directed IRAs. We use https://www.advantaira.com/

I ended up taking all the funds from my IRA accounts, paid the 10% penalty, and with Cost Seg and Real Estate Pro status, was able to avoid paying taxes. Not a wise thing to do for everyone, but for me, it was the thing I could have done. I had access to my money for an amazing deal, and I was out of the IRA system. It may have been different if it was a Roth IRA.

I would also consult your CPA for his advice

Best

Gino 

@Jefferson Black

If there's no drama, then there's no value to add. LOL. Congrats on the deal

Gino

@Jefferson Black

Just make sure you have the proper COs, and it is in fact a legal Triplex.

What is your exit strategy on this deal?