All Forum Posts by: Arn Cenedella

@Account Closed

Thank you. 

Wholesaling is a great way to get started in REI. Not much capital is required just lots of Hustle.

Good luck!

@Jay Hinrichs

Yep CA ex pats find joy and happiness in the Carolinas. 

Who knew?
We love Charleston too. When Laura had a 3 month sabbatical from Intel in Santa Clara she rented a carriage house down on Haskins right there in the heart of historic Charleston. 

Ping me if you come to Greenville again, happy to get together for some food and drink. 

Arn

@Michael Blank

45 year real estate broker and investor. 
Moved to MF in 2020. 
As a GP, I am involved in 1100 units $140M AUM. 

Have done deals with Brian Briscoe and Eric Shirley who went thru your program. 

Located in Greenville SC. 

I’ve been on Best Ever podcast twice and Syndication Show three times. 

I’d be honored to be a guest on your show. 

@Chris Seveney

Good point. Often the money is the investor relations person who communicates with investors  

On the Spark team I’m the deal finder and communicator. Brian is the operator. Dan in the Analyst. And we all raise capital. 

@Evan Polaski

I agree the Operator is the most important piece. 
Thankfully my partner is an excellent operator. 
I didn't do any syndication deals until he agreed to come on board. It took me over a year to convince him to do MF as he was an SFR guy. Now he loves MF. 😀

@Anthony Chara


I am not a member of UCREIA but have presented to the group before at one of their meetings. I think you teach there too. Is that right?

Arn

@Nathan H.

Got it. 

I’m just suggesting getting tax advice from randoms on BP presents potential issues. 

I would not go online to get medical or legal advice from randoms. 

How does one determine whether the info provided by randoms is accurate?

Lots of misinformation appears on BP. 

@Nathan H.

Please don’t be penny wise and pound foolish.

Hire a tax professional.

The cost will be tax deductible. 😀

@Kent Smith

Your CPA is wrong - you can deduct operating expenses against rental income to get to zero.

If you have a net loss after this, that loss is NOT deductible and will be carried forward.

Review Schedule E and it will clarify how this all works.

Schedule E go to IRS site and take a look and also review instructions.

Good luck.

Arm

Remember your first bike ride without training wheels? 

Your first day at a new school or job?

Your first date with someone special? 🚲💼❤️

Even with 40 years in real estate, I felt the same way about buying my first apartment building. I'd been to a few rodeos as a residential broker in Silicon Valley and had a big single-family rental portfolio. 

But multifamily? That was uncharted territory.

I wanted to cross the finish line, but I wasn't sure I could do it. 

That's where my mentor, Reed, came in. I first "met" Reed while listening to a podcast about his journey from Australia to the US - a place he never visited before. 🌏

Laura and I had a similar "stranger in a strange land" journey when we left Silicon Valley for South Carolina - 2,800 miles across America. We took a leap of faith and moved where we knew no one. Now, 9 years later, we couldn't be happier. We had a vision of the life we wanted and didn't let the naysayers derail us. 🌟

When I first got into multifamily, I felt like the new kid on the block. Shy and afraid to express my own opinions. Reed talked me off the ledge when due diligence revealed surprises. He assured me we'd get through the frustrating process of securing a loan.

And we did. Three years later, that property is exceeding expectations. Since then, I've acquired 6 or 7 more multifamily properties.

The greatest periods of growth in my life occurred when I was willing to be uncomfortable and vulnerable.

Think back to all the times you were nervous or afraid. Remember how good it felt when you pushed through and succeeded.

If you've been spinning your wheels for the past 6 to 12 months, maybe it's time to get some help and support. You don't have to do it alone. Don't let fear hold you back from achieving your multifamily investing goals. With the right guidance, you can overcome obstacles and succeed. 💪

#multifamilyinvesting #mentorship #realestateinvesting #overcomingfear #success