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All Forum Posts by: Josh Oaten

Josh Oaten has started 30 posts and replied 257 times.

Quote from @Kourosh Abedi:

Hello everyone,

I have spent a good amount of time learning about the multi-family and rental industry and am looking to get involved some time in the near future. I am looking to get into multi-family and/or distressed single-family homes, but have little capital. Are there any recommendations of how I should go about handling financing or maybe even how I should be searching for property. Would love to hear your experiences with your first properties.

Kourosh,

My suggestion is find people doing want you want to do and offer them your assistance. You may not get anything money wise in return up front, but you well get a whole lot more knowledge you would from a book, and start to create a network of like minded people in your market.
Thats just my opinion.
Quote from @Ali Mirabzadeh:

Hi BP Community,
I'm an investor based in the Bay Area, CA and  doing my research on Multi-family investment in the Phoenix area and its submarkets. 
I'm interested in buying a duplex with positive cash flow and in a submarket that has a potential for rent growth and appreciation.

Would like to get in contact with some of the investors and agents in the area to learn which sub markets are better to look for and factors to look for in those markets?

Thank you!

Ali,

Do your research and be extremely selective on the location you buy down here in Phoenix. With the current market climate we are in, if issues arise you want to be in a solid area. PS - this does not always mean Scottsdale.

Post: Greenville, South Carolina - Is It The New Austin?

Josh OatenPosted
  • Investor
  • Phoenix, AZ
  • Posts 261
  • Votes 143

We love Greenville, South Carolina and think it is an amazing market. So much so that we just got 300 units under contract. What are your thoughts and experiences with this growing city? Is it the new Austin Texas???

Quote from @Darryl Griffin-Simmons:

Great job Josh!!

Thanks Darryl!!
Quote from @Brian Plajer:

@Josh Oaten how did you pay the bills while you offered your services for free for many years to learn?

Brian,
I was still working full time in property management. Though I did not like working in property management, I new it was another aspect I needed to learn.
Quote from @Dan Cioaca:

Can you share any of the details about what approaches you've seen work the best for identifying and approaching off-market sellers? In my market, no publicly listed sales will pencil, so only off-market sales work. 

Dan,

I can only speak to the Phoenix market and to be honest nothing is really “off market”. These deals are more so pocket listings, and the goal is to be the 1st one a broker goes to with these pocket listings. 
Quote from @Amin Akhmadi:

@Josh Oaten How did you raised 10 mln$? 50,000 an investor would mean you have 200 investors.

Amin,
My apologies. $50k is the minimum investment on our deals.
Quote from @Jorge Abreu:

@Josh Oaten Is this a deal you closed or are just looking at? What is your role in this syndication? What are you looking to do next?


 Jorge,

We closed on this deal last week. We are the main GP on the deal, and are looking to do a deal a quarter out here in Phoenix. We also have just got a large community under contract in Greenville SC.

Quote from @Kenneth Mendonca:

@Josh Oaten can you elaborate on how you financed the deal? Would love to hear all about it.


 Keneth,

Our deals are financed through syndication and capital raisers at $50k at a time.

Quote from @Bjorn Ahlblad:

@Josh Oaten Heartfelt congratulations! Can you share some details?


 Bjorn,

Thank you.

135 unit portfolio (87 unit and 48 unit) within half a mile from each other that we will operate as one community in Mesa AZ0. This was a $240k/door purchase. Our investor proforma returns were over a 5% CoC with a 7% pref, 15-15.5% IRR and +1.93x equity multiple.