All Forum Posts by: Juan Maldonado

Update:

1. Bank appraisal went well, investor equity of $950k is fully commited, were good to go!

2. No word from Seller: probably not good.

3. got an LOI signed on a different 146 unit (San Antonio) seller called me out of blue saying "I'm ready to sell" great phone call to get, seller attorney reviewing sale agreement, should be under contract by Monday. Original 145 unit - seller wants to meet with colleague and gage if were real buyers - still pushing this one through, we should get it.

Jon and two others have their trend report :)

Hi BP,

Our company (JoCo Partners) is currently looking for someone to join us as an Acquisition Analyst – Junior Partner. This is the only position in the company that has the opportunity to receive equity stake in the RE investments.

About us:

We are a multifamily (apartments) operator who purchases undervalued properties and looks to create value for our investors through the renovation, management optimization and repositioning of properties. Our company started 8 years ago and now have 40 Million in assets under management. Our company president Jason started from zero and were still using the same model he learned from this first employer. We are looking to keep scaling our business and need more HORSEPOWER. www.jocopartners.com.

About you:

• Energetic, analytic, entrepreneurial and comfortable talking to people
• Interested in Real Estate
• Looking to learn about Real Estate… A TON.. first 6 months will be fast n' furious
• Proficiency in Excel (if not at least willing to learn or take classes (we would pay))
• Need Texas Real Estate Sales Person License (We will cover classes)
• Willing to relocate to Austin, Texas for at least 2-3 years
• Comfortable making calls…if not, "fake it till you make it"

Learn to market like a wholesaler, renovate like a house flipper, place equity & debt like a broker, manage like a Certified Property Manager (CPM) and create passive cash flow of the buy and hold investor.

Still interested? Please reach out to me via private message or email: [email protected] so I can send you the more formal job description.

About me:

Started working for the company in the same position we are hiring about two years ago. I found bigger pockets because I wanted to learn more hoping to connect with a mentor, or learn how I could get started. At the same time I put my resume on Monster and was contacted, by Jason . I had little experience other than what I had read in BP. Since that time I have personally sourced, negotiated, underwritten, conducted due diligence, created debt & equity marketing packet for banks/investors, arranged debt financing and refinancing on existing portfolio properties. Personally responsible for 9 new acquisitions and about 225 units at around 10 Million dollars purchase price.

Have learnt a ton and have been able to go to multiple national conferences on the companies dime such as Urban Lands Institute Fall Conference (13,14) National Multifamily Housing Council (14).

As stated were looking for a FUTURE PARTNER – We will not skimp on your Real Estate Education. You will have every tool needed to succeed.

Candidates can be from anywhere: Austin, Pittsburgh, San Antonio, Dallas, Houston, Philadelphia, New York, Miami, Atlanta, Boston, San Francisco, Phoenix, Los Angeles, Detroit, Seattle, Minneapolis, San Diego, Tampa, Baltimore, Denver, Charlotte, Portland, Salt Lake City, Las Vegas. Raleigh

1. Closing 47 Units in Pittsburgh, Squirell Hill. Extremely excited had been negotiating this deal for over a year. 

2. Hopefully my offer on a 48 unit 12 property portfolio in Pittsburgh, Shadyside - Squirrel Hill will be accepted. 

3. Hopefully putting 145 apartments under contract in San Antonio, Texas

@Jon Klaus on the 2015 Real Estate Trend report done by PWC - Austin, TX ranks as the number one market in the country for new home building, No. 2 overall for investing. Houston is number 1. If you want I will share report with you send me PM, with your email. 

I lived in Colombia for three years, 2011-2013. Was great, having my rental there I have gotten to learn a little more and why there aren't apartment complexes there everything is Condos. It all goes because the laws in Colombia are so tenant favored that someone could squat on your property for four years without paying rent and you wouldn't be able to evict them. 

That's why I am looking to do Wholesale or Flips, get in get out!!

Hey Jackie, 

The delivery systems are private, but you should be able to mail, when living in Colombia I used to get mailers from local grocery stores and such and other advertising. This is why I am so interested in looking further into this. I don't think there's many people doing the strategies that you see here. 

@Cristina Corredor , congrats on getting started, I am actually looking to contact people in then RE industry in Colombia. Do you know anyone?

Hello BP,

I was originally born in Colombia and have lived in the US since I was 8 years old. A few years ago I had the chance to go back and live there for a few years, before moving back to the U.S.

I am getting interested in starting a direct marketing, wholesale, flip operation down there.

Here's why:

1. Recently a world organization (possibly IMF, was listening to radio, cant recall name) placed Colombia as the top country in LatinAmerica to do business, regarding the ease of doing business.

2. They recently signed a free trade agreement with the EU and US, among other nations

3.On the verge (hopefully) of finally coming to a peace resolution with the insurgent group (FARC) that has kept the country in a 40 year old civil war. Colombia spends about 20% of taxes raised to fight this war with itself.

What does this mean... OPPORTUNITY, there is currently a flood of foreign money being pumped into the country creating excessive appreciation.

My family has ownened an apartment in Bogota for a while, in the last 5 years it has appreciated 12% average annually, according to "el tiempo" our version of NY Times, this year this neighborhood will appreciate at 16%.

If someone would like to talk about possible opportunities would love to connect. I honestly don't think there are many people doing direct marketing or anything of the sort. I honestly have not done too much research other than my recent time living there and dealing with my apartment there.

Let's chat!!

Hello BP,

I was originally born in Colombia and have lived in the US since I was 8 years old. A few years ago I had the chance to go back and live there for a few years, before moving back to the U.S.  

I am getting interested in starting a direct marketing, wholesale, flip operation down there. 

Here's why: 

1. Recently a world organization (possibly IMF, was listening to radio, cant recall name) placed Colombia as the top country in LatinAmerica to do business, regarding the ease of doing business. 

2. They recently signed a free trade agreement with the EU and US, among other nations

3.On the verge (hopefully) of finally coming to a peace resolution with the insurgent group (FARC) that has kept the country in a 40 year old civil war. Colombia spends about 20% of taxes raised to fight this war with itself. 

What does this mean... OPPORTUNITY, there is currently a flood of foreign money being pumped into the country creating excessive appreciation. 

My family has ownened an apartment in Bogota for a while, in the last 5 years it has appreciated 12% average annually, according to "el tiempo" our version of NY Times, this year this neighborhood will appreciate at 16%. 

If someone would like to talk about possible opportunities would love to connect. I honestly don't think there are many people doing direct marketing or anything of the sort. I honestly have not done too much research other than my recent time living there and dealing with my apartment there. 

Let's chat!!

I would also agree that starting a REIT, for someone with limited experience could be tough. One obvious reason why people choose who they invest with is because they perceive the fund manager(s), executives to be subject matter experts. Many are ran by people that worked for other REITs, investment companies for many years. Some of the REITs I have heard or read got started was by amassing a large portfolio and then essentially selling it to potential investors. So their track record is what got them started.

Sam Zell said at a conference he spoke that he started by managing and acquiring properties in Ann Arbor, Michigan during his grad school years. Him and a partner ran a company that managed 4,000+ rental units. Obviously he is a genius and to manage that many units alone is a feat, to do it while your going to grad school, you are certainly in the top 1% of both intelligence, hard work and determination. 

Unless you start working as an Ibanker and transition into a private equity firm working for investments and can accrue enough knowledge, investor connections and get very good at selling a vision (always tougher than selling a product), then you are more likely to do it by acquiring a large portfolio or merging a lot of small portfolios together. Along the way you have to convince people investing with you is a sound idea.

As for the crowdfunding site this I believe is much more realistic and to me there is a big difference between the two. There is a lot of info here on crowdfunding and it is definitely  an area of interest as it is just getting started, so you could really get in at a ground level. I have heard from someone who has done projects that for an operator IFUNDING, is his preferred site. Obviously would be interesting to know what it would be from an investor. 

Hi all, 

I am only on BP right now so my LU experience has all been based on meeting one of their members and going to their website. Our company acquires and manages multifamily properties, met the LU member when I called him to purchase his property. 

This is what I gathered from him. He knew nothing about RE prior to joining LU. Since he joined a few years ago (4-5) he has been purchasing c-b type properties in Austin, TX. Which has been one of the hottest spots in the country. So they have taught him how to purchase and thrive in a very aggressive market. 

When I asked him where he got his money he told me that he syndicated all his deals from LU members, saying that he has found all his investment members through their meetings. So I think in his scenario the $500 or whatever amount he has invested has been paid for many times over. He is doing really well with around 200 units under management. 

To me if you are the type of person that needs a little more direction or someone to help you get past the analysis paralysis $500 dollars and LU membership with a mentor may do the trick. 

I honestly believe that all the education and some can be gathered here from BP, so you certainly don't have to join anything else. You just have to put all your hard earned knowledge to work.