All Forum Posts by: Jeff Greenberg

@Kurt Granroth It looks good on paper, but it is not easy to consistently find those deal.  Some may hit and some may miss.  You should also see better than 8% on the later years, but you may see less in the early years.

I have three women on my team that are key to our business.  You can PM me and I will provide their email addresses to hear their story directly from them.

@Ali Boone thanks for the shoot out.  @Daniel Walker I hope to meet you this Saturday.

We like to bring people together and see what is on their mind.  Bring your questions and your concerns and meet with like minded individuals.

@Joel Harrison It is great that you are reading and learning.  You currently have one leg of a three legged stool.  You may have time, but not fully educated and little or no money.  Find someone that has the other two legs.  Team up with them and learn from doing and still have the safety of their experience.  Find someone that could benefit from your energy and commitment.  Don't go to someone hat in hand asking for a mentor,  go to then with energy and excitement and explain how you can be of benefit to helping out their business.  

Part of this statement makes sense "My initial thought was to ask my father (who is living on his inheritance) for a $10k loan, but he doesn’t think that now is a good time to get into RE. He sees the market going up, and that it’s a sellers market, and says I should wait for the next crash to happen before I jump in"  If the market was assured to keep going up you would probably be ok, but what if it corrects, just as you jumped in.  If you could make the payments and wait until the prices return, you would be ok, but what if you can't and you need to sell at a loss.

First, you are not going to know how extensive the contamination until you do the Phase II.  You can't jump to the chase as the Phase II is the next step in the testing.  After the Phase II could be hundreds of thousands of dollars.  As @Brian Adams said, make sure this is a deal that is worth the potential expense. 

There may be a way to mediate your risk and recover your testing costs and remediation expenses.  Check with the State the property is in and see if you would be able to enter into a "Brownsfield" program. I am involved in one in Georgia and I know someone doing one in NY.  Once entered in a Brownsfield program, several things happen.  1. You as the owner are protected against any liability for anything resulting from this contamination.  2.  You can get reimbursed, in the form of tax rebates, for your mitigation expenses.

Texas is a non disclosure state so on my 1.3 mil purchase, in Houston, they assessed us at 2.1 mil.  We appealed it down to 1.3 due to our purchase price.  So much for non disclosure.

That is one of the primary reasons to get into 75+ deals is the ability to afford on site management.  As @Mike Dymski stated, the onsite office and maintenance employees work for the management company, but the property(you) pay their salaries and benefits.  This is on top of the 3-6% PM fee that you pay for their overseeing the management of your property.  There are also many other things that your PM company does such as bookkeeping, staff training, cap ex supervision, staff replacement if needed, additional staff if needed for special projects, liaison with the owner, etc.

That is one of the primary reasons to get into 75+ deals is the ability to afford on site management.  As @Mike Dymski stated, the onsite office and maintenance employees work for the management company, but the property(you) pay their salaries and benefits.  This is on top of the 3-6% PM fee that you pay for their overseeing the management of your property.  There are also many other things that your PM company does such as bookkeeping, staff training, cap ex supervision, staff replacement if needed, additional staff if needed for special projects, liaison with the owner, etc.

Come join us in Santa Monica on Sat November 11th at 11am.  We meet at the unurban cafe on pico and urban.

"Attorneys are the best ones to talk with, but you would need to become licensed to raise the capital or take ownership in the general partnership." @Todd Dexheimer  I agree, but your first sentence is confusing. You would need to have a securities licence to sell someone else's security, but you don't need to have one to sell a security where you are on the management team as Todd described.