All Forum Posts by: Jeffrey Holst

@Fradel Schaechter each syndicator is going to have different needs,  some wont want any help from you some might.  I think the trick to getting involved in real estate is to start.  Go to meetings, look at deals, talk to other investors.  Tell people you are newish to real estate but you find it fascinating and you are working on getting your first deal.  If you are having a good conversations eventually an opportunity to help someone will present itself.  The idea that you should just cold call people who syndicate deals is often thrown out there but its not really practical.  Mainly because syndicators who advertise deals are so far above the average investor that they arent going to need your help.  They people that do a couple of syndications a year and have small staffs that might need you help arent advertising so there is no easy way to identify them.  

In my estimation you really just need to network and keep you options open.  Maybe there's a guy who is flipping houses that you can learn from or a buy and hold gal that could use a hand.  The point is to not worry about the who and just get out and learn about real estate.  When you learn enough you will start to see ways to make money and then its off to the races. 

You have to act fast.  We set our contract dates on the sales out as far as possible.  Typically we have been able to negotiate 45 days give or take from when we went pending until close and then as soon as we have a pending deal with start making a play for 2 or 3 deals that meet our parameters, getting a good multifamily broker is key in this.  Your broker should be able if you communicate with him or her to help you move quickly.  Once you have a replacement or 2 identified you  need to move quick to lock one up and get it in due diligence.  Best case you can start D/D before you close on the relinquished property.  You also have to be ready to take the hit bust the exchange and pay the taxes though because you dont want to be forced in to buying something you no longer want.  If you have a 100K gain you probably are only risking 15K give or take and while you dont want to spend that on taxes that would be far better than overpaying 30-100K on a multifamily asset.  

Great.  Hope the flips go well.  Check small local banks you might find someone willing to help out.  Best of luck and keep it up

Just finishing up show 47 one of my favorites so far.  

This is the other show I mentioned above.  https://www.biggerpockets.com/renewsblog/2013/10/10/land-flipping-seth-williams/

There are two podcast guests that I know of that have talked some on this issue one was show 46.  The other was a few shows before that can't remember at moment but I'll try to remember to update andet you know when I am in front of my desk top too hard on the phone at moment

The way this displays on the phone when you click through from the keyword alert the date and time aren't obvious so I am pasting below for everyones reference. (Or scroll up to top)

• 02/22/18 05:00PM - 07:00PM 
• FeedCompany, 201 W Main Street Chattanooga, Tennessee 37408
•  Free
• Feed Company in Southside - Meet in Bar Area

@Brandon Malone  the other guys on here are 100% correct,  not a great rental sell and get the equity out (if any)  run away from this place its not a good investment.  You would need to rent it for a much higher price before it would be worth renting out.  Hopefully you can sell and have some equity left.  

@James Green not all speculative investments are Ponzi schemes.  Ponzi schemes are when a intermediary takes money from one investor (sucker) to pay returns to another investor (sucker) to make returns look better as a tool to raise more money to ine his or her own pockets.   The distinction here is there is an open trading market for the major alt coins which means its speculative but there is no in between fraudster siphoning money out.  

Secondly there is real world value to alt coins they are no different than gold or paper money other than being digital if people believe they have value they have value.  There is a limited quantity and an agreed although fluctuating value.  

Not trusting exchanges is just common sense, you probably also wouldn't store gold at the store you bought the gold from.  Off line wallets are extremely safe.  The market is still in infancy and will continue to be relevant because the tech is very useful, the longer its around the safer and more secure the exchanges will get.  

To be clear though this is highly risky speculation and should only be undertaken if you have high risk tolerance and with a small amount of your total net worth. 

Options for @Joseph Rios

1) find a cheaper property, ie like 50-75K and purchase with 15K down (might have to go further from home but there are lots of properties that can be bought for 30-75K and most could be finance-able  

2) Look for owner financed property wiht owner willing to take smaller down payment

3) look at lease options/rent to own properties

4) keep saving until you have more to invest

5) partner with someone

There are many other ways to get in with 15K my first investment property I partnered with a friend we each put in $17500  and bought a bank owned condo for 30K and used the other 5 to rehab it.  We still own it today 7 years later and have had very little vacancy.  If it were my call though I would keep building cash and keep looking for properties that meet your goals.  As you get more and more cash saved up it will become easier to find something you can buy and since you will be continuing to look at deals your knowledge of the market will increase.