All Forum Posts by: Jeff Fortuna

I’m in the mag industrial fund and I would invest again… which I did in the mag Broadview in San Bernardino area by the college. Mag has great reporting and great returns. I’ll invest in their  next deal. Great cost seg. 

I’m in 3 debt funds. The only negative is that I do not have them in my 401k. I pay taxes on the 12.5-16 percent they return. I am in the Dwight fund, Pelorus fund and the Sortis fund. All are A+

I am in cvc3 and 4. Cash on cash is 7-8 percent. Great syndications. Great investments

I’m in his Tricore storage fund.  I would not invest again. There has been no distributions for 2 yrs. There are no quarterly reports. 

I’m in Tricore storage fund 1. I would not invest again. The group has no quarterly reports and the fund has yet to make any distributions. One of the investments in canton was bought and refinanced for 3x the purchase price. What did they do with the cash out money. No one knows. The reporting they use is absolutely worthless.  

I am in Crystal view 3 and 4 and the coc is 7-8 percent … the reporting is great. Great syndication with great management.  Crystal view capital 

Well the loan Represenative stated that one of the criteria is net worth and the loan could not be more than the net worth so I choose half of my net worth. I also don’t have 1m in cash yet for a 4 million dollar loan. Scott, even though I have 26 yrs managing and owning rentals I was also told I may need an experienced partner if I want to invest in Charlotte , Columbus or Jacksonville. I was told that if I invest in my hometown of Grand Rapids mi I would not need a partner. 

This is a very new step in my investing career and I want to limit mistakes. 

I have talked to two lenders out of state to secure financing (Freddie Mac Fannie Mae non recourse with 20 percent down ) they are telling me I am able to secure a 2M loan. What should I look out for as I search for a cash flowing 50-100 unit apartment complex?

I am planning to buy a multifamily building/complex of around 100 units so far I have 47 Single family homes in west Michigan and have a good experience of managing them. I have been selling a few a year and putting the proceeds into growth mutual funds. Any advice on BEST CITIES for buying multifamily building for buy and hold purpose? Should I continue saving in the mutual funds?

I have been thinking north Carolina - Charlotte area. But am looking for advice on where to buy them and how to finance the purchase.  I have the 25 percent down payment and 25 yrs experience managing tenants. I have been waiting for a downturn to get better prices but am looking for advice.   Thanks. !