All Forum Posts by: Jeff Greenberg

https://www.biggerpockets.com/forums/521/topics/53...

Come meet fellow BPer's in LA

I use Tony Watson @ Robert Hall and Associates.

We immediately go to our broker as soon as we are getting close to an LOI. We don't trust the sellers numbers and insurance rates are always going up. Start early as it takes time to get quotes.

I would have started a lot earlier in my life.

As @Ryan Cox stated, there are many ways to skin a cat.  You can also partner with someone else, use creative financing, and use OPM.  

Don't forget to include your closing costs, loan costs, acquisition expenses, and immediate capex expenses, when you figure you cash on cash.  Brokers love to use only the down payment and not the other costs of the deal.

First of all health and safety issues need to be taken care. Deferred maint. related to the preservation of the property also need to be done. You may or may not see much of an ROI on these. If your exteriors look really bad you may never get anyone inside to see any work you have done on the inside, so you need to give it some curb appeal.Don't forget about the leasing office as that will give them the first impression. Then you can start on the interiors one at a time if needed. Here is where you will start seeing your ROI.

@David Fernandez, @Manish Bahety summed it up very well.  The only thing that I would add would be the vetting of the sponsor and the deal prior to investing.  During the deal the investor should attend meetings and ask questions as to how the deal is going and is it on track to meet or exceed the projections.

There are very few areas that our investors have voting rights.   They can vote out the manager with cause and they can vote on changes to the operating agreement.