All Forum Posts by: Account Closed

Hey Brian,

On your 270 unit deal in 2010 did you syndicate the deal? did you form a GP or did you buy into an already existing investment group as one the investors?

When you did this how much of your own skin did you have in the deal? (if you don't want to be exact I understand)

You mentioned that you acquired it for $4.5 million and it appraised for $12 million. Did you end up selling it at that point or decide to hold?

You mentioned that in 2011 you exited your CPA job to pursue REI full time. Was this possible because of the cashflow you were generating from this first deal? or was is just one of those burn the boats moves where you had only so much savings.

Thank You.

Thanks for the input everyone. I'm specifically looking for apartment complexes 40+ units.

I'm looking to move my business to Florida and focus specifically on buying apartments. Based off the research I've done it seems that Orlando, Tampa, Collier County, Ft. Lauderdale markets are good.

I'm trying to decide on which one to pick first. I will expand to all of them at some point though. Does anyone have the ground truth?

- Thanks

Thanks for the input. I'm definitely going to read the books mentioned and listen to the apartment related podcasts. I want to sound like a seasoned veteran coming in even though I've never done it. However I understand that there's a lot that you just can't learn without doing it for real.

As for the local REIA meetings it seemed that everyone there was in a very small headspace e.g. wholesaling, flipping, starting in residential and working your way up. I've been listening to people like Grant Cardone, Ken McElroy, Dale Hansen. These guys all started with a 30 - 40 unit apartment for their first run and then their second was 100+. From what I've gathered you can start as big as you dare as long as you can get the funding. My plan is to team up with an experienced syndicator/investor. I don't care if I own 1% of the deal I just want to be a part of it and learn. As for bringing value to the team I think that is a very good point. Looking at my background as a professional analyst and an entrepreneur I could assist in research, finding deals, marketing and of course doing the annoying tasks that no one wants to do.

Taylor I will now be going to ACRE thank you for the tip.

Thank you all for the advice.

Hey,

I'm getting into multifamily/apartment investing. I have zero experience but I am constantly researching. I don't want to get stuck in paralysis by analysis but I think it would be wise for me to get a mentor or at least team up with someone who is experienced in this industry before just buying something. 

I will work for free and help you and your team with anything and everything 7 days/week + holidays. I'm based in Virginia beach/Hampton Roads, VA.

Thanks

- Jason