All Forum Posts by: Justin R.

@Nathan G. Thanks! I have heard word those times of military being held accountable by their chain of command for landlord issues are gone. With that being said, I would still assume the vast majority of military folk are honest people and willing to hold up their end of the bargain.

Thanks for the advise on contacting housing for advertising!

Hello All. I just finished a renovation of a 18 unit apartment complex that happens to be near a few military installations. As a veteran myself, I would love to offer military and families a discounted rate, and a reduced deposit.

Has anyone done any special marketing for military? What is the best way to reach out and do so? Am I able to market the property through the local bases?

Thanks for any insight!!

Sorry Im late to the thread. It's hard to go wrong in Ventura County. If I was to tell someone where to raise a family in Ventura county (this is VERY generalized) I would say "Anywhere other than Oxnard, Los Feliz in Thousand Oaks, and the "Avenue" in Ventura."

With that being said, there are some great areas in Oxnard, and the Avenue and Los Feliz are both trending upward. With that being said, If I was to buy an investment in VC today, I would probably buy in Oxnard. Some areas are gang heavy, but most residents are great hard working blue collared folks. The cap rates in Oxnard will be higher than the rest of VC. If you have any particular questions of any area send me a DM. Best of luck!

You don't just factor in the loss rent X number of months. You have to factor in the loss of gains within that time frame which your capital is getting a zero return. 

Exactly what @Antonio Cucciniello said. You need to bring one of those qualities (MONEY, TIME, EXPERIENCE/KNOWLEDGE) to the table to be relevant to a partner. If your looking to apprentice/intern for a successful investor you can also bring a service. Possibly offer a skill that they may need or are lacking (webpage development, efficient systems, bird dogging, office management, marketing, whatever.) Covid has definitely placed a damper on networking like you mentioned but there are still plenty of digital conferences as well. Join all of your local REIA groups and be an active member. I would also let everyone know that you see (family, friends, new acquantances) that you are taking a leap into real estate and you are looking for XXXX (a well defined goal/plan/objective.) Guaranteed even Aunty Suzy and Sara from College know someone in the game.

Lastly, don't let the lack of partnerships stop you from becoming the best investor you can become. I invested for 8 years prior to ever working with a partner (although residential does have a perceived easier barrier to entry.)

Best of luck on your venture and congrats on being debt free!

Im confident they will extend well into 2021. This isn't just delaying the inevitable, it is actually compounding the inevitable evictions from a quantitative manner while disrupting economy, placing all the weight on landlords and banks.

Every single tenant that has came to me and asked for some relief during Covid I have empathically obliged, as Im sure the vast majority of investors would also do. This moratorium is really a way for the few selected tenants to take advantage of the law, or not go find work in a different field. Yes, your job at the retail shopping center may have you laid off, but there is nothing stopping you from applying at the UPS, Amazon, Door Dash, Uber Eats, cyber security, medical suppliers, protective equipment, or any essential workers positions.

Hello @Max Rieves and congrats on your acquisition! I hope you don't mind, but I will critique you on a few things you mentioned. 

- You should be running your own comps. Yes she works for you and it can't hurt to have a second opinion, but its your money and your investment. You are the professional in finding comps now.

- Why do you have an LLC? Yes asset protection, but you need to weight the burdens vs risk. If you have the assets to validity a LLC then what most people do is either use a portfolio lender, or if using a conforming loan purchase in your name first, and then move to the LLC.

- Call John Roach from Synovus Bank. He is professional and attentive. If he cannot help you he can find someone that can. 

John A. Roach

Senior Vice President

Commercial Loan Officer

Sea Island Bank

Community Banking

2 East Main Street, Statesboro GA 30458

(912) 489-9298

(912) 536-1010 (Cell)

I know I mentioned some things you didn't ask for. This is a forum and we are here to learn so I thought I would share my experiences with you. That is great you had the liquidity to purchase a house with cash in hand. Keep up the great work!

Best of luck! There are deals to be found even in CA. They might take a little bit more work, patience, and capital, but can be done.

Each of these metros also has their own "Beverly Hills." I would invest in any of those markets "IF" I had localized knowledge of the sub-markets and economy.

Im pretty sure there is someone that has done very well for themselves investing in Detroit MI, even if @Joshua Dorkin doesn't agree.

Long distance investing is much easier than local investing (in my opinion.)

Yes, they both come with their challenges but here is my take from someone who has done a decent amount locally and afar.

Drawback of long distance RE vs Local

- Traveling 

- Finding the right team/Networking is EVEN MORE crucial when your boots aren't on the ground

- Less familiar with areas so you do need to conduct additional local diligence

Benefits of Long distance RE

- More time saved from not wasting time and energy driving to the site, picking up materials and getting caught up on the small stuff. This is the most important one to me. A General in the military doesn't get there because they spend their energy micro managing each rifleman. They get there because of their leadership and ability to prioritize objectives.

- Most (not all) people can find superior cap rates in out of state. You get to choose your market, not have your market choose you. Find the best market that gives you the cash flow, appreciation, or stability that YOU desire.

Best of fortune in whatever route you choose!