All Forum Posts by: Arn Cenedella

@Jonathan Anderson

OK I may be rolling in direct from Furman Golf but would like to you face to Face too. Love meeting with local investors. Greenville is such a good market. Not inexpensive but worth it. 

@Ryan Daulton

Abilene is probably not the most dynamic market you could find. 😀

That being said let me make a contrarian statement:

The best market to invest in is the one YOU know BEST. Good investments can be made in any market provided one has excellent local market knowledge. 

So if you are talking about buying a 6 to 20 unit building I would stick to Abilene. Dive deep in that market, go see every MF for sale In that market, go visit act as a tenant all the buildings in your market. Talk to brokers local investors and property managers. Become a private investigator in your market. Thats how you learn it and get the questions you have answered. its pounding the pavement talking to people being out in the market. 

If you pick a martlet a three hour plane ride away it will be hard for you to learn that market well enough to make a decision. 

Hope this helps. 

Arn

@Sky Shade

Each program is slightly different and also varies from student to student.

In general, the mentor will 1. Introduce and vouch for you with brokers 2. May act as KP (co-sign) on loans in return for a fee and part of the GP 3. Help with business plan.

None of my mentors invested their own capital in my own deals.

None of my mentors provided access to their investor database.

But some might.

After 46 years in the real estate industry, thru all types of markets - good and bad - from Silicon Valley to Austin TX to Charlottesville VA and now Greenville, SC, I've successfully invested and now want to help others. Accordingly I am starting a new coaching mentoring program where you will have direct access to me. Trust me, having someone supporting you every step of the way is critical.

Reach out if you would like to learn more.

Thank you,

Arn

@Joe S.

There are ways to syndicate a deal initially wherein the GP lead sponsor can buy all the investors out a few years into the deal generally thru refinance after the business plan is executed and value increased. Some call this the infinite return model.

Pending the amount of capital you have to invest, I can also help you buy your first building individually.

I started with a 12 unit and am now GP in over 1000 units worth $130M.

After 46 years in the industry, I am opening up a few spots on my mentoring program wherein students will have direct access to me and all I can provide. 

Reach out if you would like to learn more.

Thank you,

Arn

@Ariel Gonzalez

Hey don’t despair.

It’s a tough market out there.

In most cases, seller pricing expectations are still out of line with the current cost of debt.

I’m proud of you that you just didn’t buy something to buy something - that takes discipline.

It’s important that your first deal is a success or at least not a train wreck.

I’d encourage to start small finding a 6 to 10 unit building and buy that with a few friends. Gain some experience and some REAL confidence not just false bravado. Get your feet wet. Learn and then scale.

My advice: Don’t look for the home run deal, look for a solid line drive base hit deal. Just a solid deal that will make sense ove a 5 to 7 year hold.

Good luck, hope this helps.

Arn

@Charles Perkins

Yes, there are lots of ways to invest and profit from REI.

No matter the asset type and class, the skills I listed above are required.

I like you mention of creativity.

The quantitative aspects of REI get plenty of discussion but there is a qualitative aspect too. Intrinsic quality, instinct, seeing possibilities all are critical to success.

@Dan Illes

I see this question come up quite a bit.

And I see all sorts of answers but little of the “wisdom” makes sense to me.

If one was to say, the best time to post is Tuesday at 10AM or Thursday at 2PM.

Do they mean Pacific time? Eastern time? 

10am ET is 7am PT. 

Do we really believe prime social media time is 10am in NY am 7am in CA?

Or is it 10am in both places local time?

My suggestion is focus on the QUALITY OF THE CONTENT.

CREATE CONTENT THAT ADDRESS THE PAIN POINTS OF YOUR AVATAR.

At the end of the day, there’s no magic formula, there is no way to game the algorithm as it keeps changing anyway, jist ge consistent and post quality content.

@Jonathan Anderson

I’ll do my best to make it.

I do lots of investor networking at the Commons.

It’s the perfect spot.

@Benjamin Aaker is on the money.

Your income probably prevents you from using RE to offset your W2 income but you can still use deductions and depreciation to offset rental income.

If you are looking to REI to reduce your taxable income on your W2 earnings REI won't help much at all.

One needs to be precise when discussing tax law.

@Charles Perkins

For commerical real estate investment and to perhaps a lesser degree SFR investment, there are four primary required skill sets in my opinion:

1. The Hunter the deal finder

This is the networker, constantly out in the market, talking to the brokers and all the other players in the market. Hunting searching for deals. Optimistic energetic relentless on the lookout for deals. Risk tolerant.

2. The Brain or the Mind

This is the analyst the underwriter the numbers guy. Risk adverse. Slow methodical precise detached from the outcome.

3. The Operator or the Hammer

This is the person that actually runs the physical asset - property and asset management, project management - takes care of the day to day gritty details of operating rental property. In some ways the most important member of the team. Practical risk adverse grounded.

4. The Capital or the Money

The persons with connections to capital and money. Energetic optimistic People person.
it’s hard for one person to embody all these skills and that’s why at least for MF investment putting together them team is critical to success.

great post!

Arn