All Forum Posts by: Jim Froehlich

@Spencer Gray - thanks for your feedback! makes good sense.

@Andrew Schutsky, @Michael Le, and @Larry Lemer - thanks for your inputs!  @Adam Lacey - thanks and we invest anywhere that makes sense, but currently in about 8-10 states.

When it comes to real estate development deals, I have no shortage of deal flow - mainly from brokers. However, most value-add or stabilized deals I've been (passively) receiving from brokers (both on MLS and pocket listings) have been terrible lately in terms of ROI (50-150 units) - from my limited vantage point, everyone is still overpaying. I'm wondering if others have had luck with Multifamily Wholesalers or if you think Brokers are still best way to get best off-market deals?

All - I noticed this post and replies from a few years ago regarding Charlotte, NC.  I'm considering an offer that involves building multi-family in Northeast Charlotte Area (B- area) - for 50-100 units, I'm wondering if someone from Charlotte can tell me what you think a good per-unit land basis cost is for already entitled property to build on (or range per unit)??  Thanks!

ummmm...hello...now I'm getting scared - too many of you engineers are going to leave engineering career fields to make easier/bigger money in real estate!!!  the rest of us need you to stay in your career fields, do quality work on important things for less money, while removing some of our real estate competition! hah

Hah - this thread is too funny!  Is somebody on here adding up how many engineers invest in real estate and doing a statistical analysis on it, maybe with mean, average, median, standard deviations, a few transformations and differential equations and coming up with an answer on what percentage of RE Investors are engineers???!!!  

RDRR, RDRR, for any of you nerds (like me) who were still in college when Season 1, Episode 2 of the Simpsons came out....

@John Erlanger, 1031 into an absolute NNN is a great idea! I should have thought about that. His father bought it in 1986 for $90K (he was a builder) and did entire rehab of it back then and wanted to transfer one house to each of his kids in 2007 while he was still alive - hence the transfer. I'm not sure how hard it is to find NNN deals for only $800K (I'm looking at a great one for $4.5mm right now), but I guess that's a different issue to solve. Thanks again for the creative thought!

@Adam Zach, as an engineer, I would like to join the engineer lovefest and agree, however, it's been my experience that engineers are NOT the majority of real estate investors, but they, along with people working in IT and other technical career fields seem to be a fast growing segment - Doctors, Lawyers, Business Owners (variety) still invest at a higher rate I believe (from speaking with hundreds and hundreds of investors the past 5 years). I want to say we (engineers) are the BEST...but, I think engineers by nature (like accountants) tend to OVER-analyze the details and therefore can often be self-limiting in the bigger game of RE investing. just one opinion.

Trying to help a friend plan - he's got a (3 units) rental in Northern NJ worth about $800-850K (his father transferred it to him as gift or $1 back in 2007). He lives in MA - in trying to sort out likely tax hit for him if he sells outright, it seem like maybe there is a maximum 20% long term capital gains right now - I don't know if that includes the Transfer Tax and the Income Tax of NJ (or Exit Tax) or Federal tax, etc?? So between state and federal, looking for a likely bottom line worst case tax hit for $800K gain after 13 years owned?? In addition, he might spruce up the kitchens and set rent to get about $60K/year NOI and just hold, but he wants to quit managing and doing R&M from distance (driving down or answering tenant calls, etc.), maybe get some funds out now without refinancing - anyone reading this ever "sell a piece" of their rental and set up an LLC with operating agreement to bring a limited partner in who manages, while the primary current owner slips to a passive spot and collects his portion of income monthly or quarterly? Thanks!

@Yonah Weiss, I've been meaning to come back to this post for awhile.  Bigger Pockets has been very instrumental to me over the past few years.  I scrolled through some of my old messages and posts trying to recall the top help I received over the past four years since I first went on BP and started my real estate journey (in earnest).  If it weren't for BP, I'm not sure I could have become a co-sponsor on deals so quickly, raised capital for syndications, started my own side-hustle and podcast for military veterans, or gain the confidence and knowledge to become Director of Acquisitions for a Commercial Developer/Private Equity firm - essentially changing careers at age 48 after 25 years of NEVER working in real estate!!

@Thomas Rutkowski was instrumental in teaching me how to utilize life insurance policies to have money working in two places at once and how people can (eventually) be their own bank. He is an unusually-gifted financial advisor. 

@George Blower taught me the benefits of opening a Solo 401K (which is awesome) and for utilization of Self-directed IRAs.

I learned a lot from @Theo Hicks, but that was originally via his role with Joe Fairless's podcast - they are both experts on Multi-Family syndication and taught me a lot. 

For a myriad of topics at broad/high level (sanity check), @Jay Hinrichs has been great.

Some of the other most helpful people included: @Ann Bellamy and @Axel Ragnarsson (for NH related), @Tyler Kastelberg (underwriting expertise), @Dave Van Horn (Liens), @mario navarrete (financing), @greg dickerson (Development), and @j benoit (turnkey and wholesale).

Thanks to everyone for their help and to the founders of BP!