All Forum Posts by: Juan Maldonado

Ryan, I am going to Bountiful for Christmas will be there Saturday. Would love to see it. My wife's family lives close by and I think we have a tenant in place.  I'll contact you shortly. 

Hello BP, 

Wanting to connect with folks interested in investing in multifamily properties for passive investments. Typically we offer a preferred return and favorable splits for limited partners. 

Right now I have an investment opportunity available in San Antonio. This is a value add - opportunistic, we have long proven track record with these type of properties. Property is 30% vacant, this sub market is at 95% occupancy so deal has a lot of upside. Because of this first year cash flows are low but second year + are very strong, IRR is very attractive. We expect a 3 yr hold.

 Typically we ask for minimum investment of $25,000.  If you would like project details or more information please send private message. 

Hello BP, 

Wanting to connect with folks interested in investing in multifamily properties for passive investments. Typically we offer a preferred return and favorable splits for limited partners. 

Right now I have an investment opportunity available in San Antonio. This is a value add - opportunistic, we have long proven track record with these type of properties. Property is 30% vacant, this sub market is at 95% occupancy so deal has a lot of upside. Because of this first year cash flows are low but second year + are very strong, IRR is very attractive. We expect a 3 yr hold.

 Typically we ask for minimum investment of $25,000.  If you would like project details or more information please send private message. 

Kyle Bentz , not sure if these qualify as grants, but yes. There is federal and local money available in the forms of tax credits. In Pittsburgh we started looking at a project that was available for Historic Tax Credits, basically as long as we rehabbed the property to comply with the Historical Land and Parks regulations we would be eligible for tax credits, the developer can then go and sell these tax credits to larger corporations looking to reduce their tax burden. After speaking to many third party tax credit syndicators, we learned that the fees of putting this together would far outweigh the benefits. All banks are interested in these tax credits as well as they have to reinvest some of their money into local community reinvestment projects. Again they are looking for larger projects. You could hypothetically however find a person who makes LARGE amounts of money from a w2 income or personal business and offer them your tax credits. I found one investor who focused doing smaller projects and said he has so many credits accumulated he hasn't had to pay income tax in over 10 years. Is this true who knows. Low Income Housing Tax credits are also even more common, but if you have ever applied for a grant you know the amount of paper work and hoops you must go through. Both of these can get pretty complex, hence why you have professionals that all they do learn and help other navigate these fields. Hope this helps,

@Lamar Cannon - Can't make it this time, but certainly will look forward to attending on January. Thanks for posting.

@Nastassja S.  I was going through a similar situation 2 years ago. I wanted to get into RE as it was/is my passion but didn't know how. That's how I found about BP. Honestly, what if you found someone to work for. Possibly a rehabber or even an active (over booked) broker. My thought was that if I was doing RE 100% of the time, it would be better than doing it part time. Being able to pick up a paycheck no matter how small, is better than no paycheck. Of course this is just my opinion. I Found a job through either monster.com or career builder as an acquisition analyst and it changed my life. Obviously seem to be echoing what @Robert Leonard said.

As for Pittsburgh check out Pittsburgh ACRE. Not the flashiest website but seems to be a good organization, they meet once a month I believe and you can attend your first one free.

@Sean H. 

Hey Sean, thanks for taking the time to read the article. We are very excited about the project. I think the visual exterior change will be pretty drastic simply by taking care of the landscaping. The interiors will also receive an enormous lift.

By any chance did we speak on the phone a few months ago? I spoke to a Sean his last name was Horn, not sure if its the same H.

Originally posted by @Juan Maldonado:

Originally posted by @Juan Maldonado:

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. 

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 :)

Final update:

1. Deal Closed.... AWESOME!!!

2. Looks like our offer is WAY lower than seller was expecting, waiting for  "official" counter. Don't think were getting this one.

3. Contract signed and on the clock for due diligence. Also property is 148 units, not 146. LOVE when this happens.

Happy Thanksgiving everyone!

All, my apologies for the bounce email I don't know how to correct it. Please email [email protected] . Thank you

@Adrian Valdez , @Dawn Anastasi is pretty much right. You just need to take a deep breath and go up to someone and introduce yourself. The first time its "scary, nerve wracking, uncomfortable" the next time is a bit better progressively easier, eventually you no longer think about it. At first you may need to "force" yourself into those situations. Good luck, have fun and learn.