All Forum Posts by: James G.

Walter Thompson I'm not familiar with the NJ market; however, I'm very familiar with the Broward and Palm Beach markets. If a property appears really cheap in this area it is most likely on an undesirable location. The competition for deals here is fierce with a multitude of cash buyers. With that said, if you are truly a good wholesaler, you may be able to find deals; if this is the case, feel free to send good off-market deals my way.

Interesting cost estimates. I've worked with several national home builders who are building projects at a similar pace on south Florida, these builders typically have vertical hard and soft costs of $55 to $70/SF. These builders have a huge advantage due to economies of scale. Smaller local builders generally report costs of $100 to $150/SF on the low end. If any contractors can build for below $80/SF in the Palm Beach County market, for one-off deals, please contact me.

@Ned Carey

What type of coach do you use; i.e. a real estate specific or general career coach? Since you are pleased with your coach, what advice would you give for finding a good coach? Thanks.

Buddy LaRue Jeffrey Yates I'd also like to be part of a good Palm Beach County group, let me know if you guys are starting one!

Jonathan Twombly Andrew Syrios Do your funds/syndications include disposition/reversion fees? Are they close-ended with 5 or 7 year terms? What are typical clauses for the end of the term if the market declines; i.e. Is there an option to extend?

Jonathan Twombly Sounds like you have a great operation, thanks for sharing. It looks like you are an attorney, do you draw-up your own docs for each fund/syndication? If you hire that out, do you have any tips for selecting an attorney for this?

@Kerry Baird

Thanks for the thoughts!

@Bill Gulley

Appreciate the comments. I remember when I first started in real estate my broker told me to focus on a specific product type to get experience and, as you eluded to, the more experience you get the more you can branch-out.

@Matt Devincenzo

I like your idea of moving to a nearby area that has yet to be positively affected by an upturn in the RE cycle. I've noticed in my market, regional trends begin in Miami and move north, usually taking six months to a year to get to the north Palm Beach County area.

Jonathan Twombly Appreciate the response. I like the simplicity of your syndication model. Do you ever put some of your own equity into a deal? Investors I've spoken to regarding syndication seam to be much more open when I indicate I'll be putting some equity into a project, this could also be due to a shorter track record than an established sponsor. If you do put money into a syndication, how would you treat your equity investment?

Andrew Syrios Thanks for the thoughts. In a case where you put some of your capital into the deal, would you treat your equity the same as the investor's? I.e. You would get 75% of the return on you respective portion of the investment while receiving 25% overall for management, etc.