All Forum Posts by: Account Closed

@Sean Salandyseriously.  ok, ready, go!  I chose rock, did I win?

jk

maybe @brandon turner or @Joshua Dorkin can help us on this one.  And maybe at least you can put a pic up so people can tell which one of us is posting?

@Kevinn Harris  call Brad Feldman at Interra Realty.

I know multifamily investors that have been doing this for decades and are worth 8 and 9 figures.

They buy multifamily in the midwest that produces a COCR of 10-12% and never care if the value of the asset goes up.

@Ben Leybovich 

@Serge S.  hit the nail on the head.  You are a smart guy and know that real estate moves in cycles.  If you only want to do one type of deal (multifamily syndication) then there is going to be a time and place for it, but then there is also going to be a time and place when it is hard and/or doesn't make sense.  

I know a lot of multifamily syndicators who played the game very hard from 2010 - 2013 and now are sitting back being more selective and/or not playing anymore.  They'll wait until the next cycle to start acquiring again.  Some of them also do multifamily development so that's what they have been doing the past couple of years.  

There is no right or wrong.  Everyone plays the game differently.  And certainly nothing wrong with sitting on the sidelines when the metrics don't align with your strategy.

Only way to always be in the game is to have more than one strategy.  

My old boss use to say, "Make hay while the sun is shining, then go skiing until the sun starts shining again."

Jay, what kind of money are we talking?  I've actually had a couple of people tell me I should organize events like that.  Had no idea they were that profitable.  I envisioned the old school "event planner" type stuff...

@Sawyer Lubke call Bridgewater Bank.  They are funding about 90% of the spec builds in SW Mpls and Edina these days.

Pretty interesting thread.  One thing that hasn't been made clear (forgive me if it has and I missed it) is that wholesaling can be attractive to those with a lower risk tolerance who don't want to take on the risks of rehabbing, spec building, etc.  Sure, one can make more rehabbing a home, but for that extra profit you are also taking on more risk.  What if the home doesn't sell?

Some wholesalers I know make very good money.  One of them is a close friend and he wholesales for the following reasons:

1. he has been in real estate for over 10 years and knows the basics very well

2. he is relatively risk averse and doesn't want to take on the risks of rehabbing, despite the potentially higher payday if successful.  he'd prefer to make his $10k and pass on the risk to the rehabber.

3. he has a great "people" personality and he's the kind of guy that you trust after knowing him for about 30 seconds.  he used to be great with the ladies in high school and college, now he's great in someone's living room.  he has an uncanny ability to "read a room" and always seem to know the right thing to say to put someone at ease.

4. he is not interesting in "graduating" up to another type of investing; (he invests for passive income with local commercial real estate companies)