All Forum Posts by: Jonathan New

Very great insight.  I sincerely appreciate it!

I am entering negotiations of a portfolio of 60 doors across 37 properties. I know how to value commercial properties, and I know how to value residential. For the people that buy portfolios, do you base your offer off of the ARV/rehab of each individual house, or do you base your offer off of the income? Thanks, all!

For your primary house, if you can cover mortgage, property management, capx, vacancy, repairs and still cash flow something on the back, always keep it in your portfolio. It's not quite that simple because you have to weigh how you'd use the little bit of cash you'd get from a sale ($20k ish). I like holding due to all of the benefits of holding RE, but I also flip houses as well if it wouldn't work as a hold (BRRRR). Best of luck!

Oh, and don't buy a duplex that I want to buy.  :-)

@Andrew Powers  Contact @Melanie McDaniel for an investor's agent.  She has a very large group of connections in the Hampton Roads area, knows how to run numbers for investors, and is a great mentor as well.  
TRIG meetup is tonight.  It's member's only tonight, but you can still join up.  Melanie also runs a meetup as well.  We have a tight circle of military investors, and we are doing deals together.  Networking really is the key to success in investing.

Welcome to the area! Every excuse has a solution as you're finding out. A possible solution for you is a JV with a rehabber. You could find a BRRRR, manage the process using their capital, and offer a buy out at the back end so that you control the asset. You may have to split some of the equity position though.

There are also hard money lenders out there or private money lenders that could loan 100% LTC, but the deal would have to be super amazing.  You could also raise the funds, which is way easier than I ever thought it would be, but this ability came to me only after I established some sort of track record.  
Whichever path you chose, I wish you the very best of luck!!  Happy hunting!

Welcome!  Taking the leap is a great challenge for anyone, so be proud that you're ready to take action.  Most everyone never really does.  Mentorship is key, as is team building and networking.  I'm an introvert, so it's unfortunate for me that networking is the singularly greatest means for success in the biz.  @Melanie McDaniel hosts a meetup every month and is very military investor friendly.  She is scaling up her own business to better assist us.

I have all of that and am also an officer in the Navy, on sea duty at that. Sure, it's essentially shore duty on a ship (RCOH for a CVN), but still. I have also been giving more hours to REI than to the Navy for the past year. Hit up connector extraordinaire @Melanie McDaniel.  She is a certified genie of networking who knows where the deals are, where the teams are, and how to hook all of us up together.  I'd certainly be interested in partnering up on a flip or two or ten with you, but you know to be super transparent, you really can do it yourself with the right connector like Melanie.  Contractors is actually the easy part with some good networking in place.  

Hit me up if you still want to partner up or just some steers in the right direction.  Happy hunting.

Welcome to BP!  I just secured my second flip today while my first is still being rehabbed.  There are some amazing investors in the area with a wealth of knowledge and mentorship to provide.  Best of luck!

Great goals by all! I want to be a bigger fish in the REI world, so I am tailoring my 2019 goals as such. 2018 was a great year for me because I accomplished all of my start up goals to build an inner circle of a trusted team, purchase my first project that was solely for investing, and establishing an actionable/competent/honest/helping reputation amongst local investors. For 2019, I aim to continue to develop my local SFH flipping and buy/hold strategy as well as add properties towards my partnership's MF aspirations of 900 units in the following three years. In 2019, I will be looking to:

- Increase my portfolio by 15 doors utilizing BRRRR or straight buy/hold. Deal flow will be crucial, so analyzing and underwriting hundreds of deals will be an absolute must!

- $350k of gross flip profits.  My current flip has a conservative profit spread of $62k - a great start towards that goal.  

- Co-sponsor 2-4 medium/large MF deals. We have an LOI accepted on a 36-unit student housing complex, so we are working to get it under contract in the following weeks.

- JV on three deals with three different partners. This is to help me see the business from the eyes of others, build my reputation, and increase deal flow.

- Attend at least 2 national REI conferences to network with you bigger fish! REI is a business of people who help each other grow.

- Raise levels of visibility for my company and investment branding through blogging, social media, youtube, etc.  

I decided to jump into the business head first over a year ago, dedicated half a year towards saving up capital, building upon a decade of landlord knowledge/experience, and networking. The REI doors that have opened to me in 2018 have opened my eyes to "what could be." Like most everyone else on BP - my aspirations are lofty. I am excited to take on the work, the ups/downs, and the stress that 2019 will surely offer.

Great deal!  Looking forward to your Orlando event! Hope your 2019 is grand as well.