All Forum Posts by: Kenneth E.

Hey guys, have you ever heard of Tiger 21 (www.tiger21.com)? Here are two short articles about them if you haven’t heard of them before.

The Investment Group for Enhanced Results in the 21st Century, or TIGER 21 for short. The organization runs professionally facilitated monthly meetings for 10 to 14 peers, where each member has a chance to present to the group their portfolio strategy and allocation decisions, alongside a careful articulation of their investment criteria and long term objectives – what their risk tolerance is, for example, or whether their goal is to spend it all down before they die, or create a family legacy to last generations. The other members in the group then pick apart the portfolio, looking for disconnects between stated goals and what is actually happening in the portfolio. Members coming into TIGER 21 first have to submit to a rigorous vetting and due diligence process to show they have more than $10 million in liquid assets to invest, before signing nondisclosure agreements and paying $30,000 in annual dues.
http://blogs.barrons.com/penta/2012/05/04/tiger-21-tough-love-for-the-very-rich

TIGER 21 is a peer-to-peer learning group for high net worth individuals. TIGER 21 provides members the opportunity to build a skill set to transition from focused entrepreneurs to disciplined managers of wealth. Members participate in professionally facilitated, 10-12 person monthly meetings to harness the varied expertise and collective intelligence of their peers.[1]
TIGER 21 members come from a variety of professional and personal backgrounds. In a confidential atmosphere, members learn about investments and engage in a wide range of discussions. TIGER 21’s Presenter Program introduces members to investors, money managers and Wall Street chieftains, as well as authors and experts from beyond the world of finance.[2] Collectively, TIGER 21’s 190 members currently manage approximately $18 billion in assets.[3].
In an atmosphere of complete confidentiality, members learn about investments and engage in candid discussions about a wide range of issues relevant to high-net-worth individuals. They enhance their expertise via active collaboration with peers, participate in portfolio defense sessions, challenge themselves to better investment decisions, and along the way build business and personal relationships in a community of like-minded individuals.[4]
Founded in 1999 by Michael Sonnenfeldt, TIGER 21 is headquartered in New York City and has chapters in San Francisco, Los Angeles, San Diego, Miami, Dallas, Washington, DC, Vancouver, Toronto, Calgary and Montreal. http://en.wikipedia.org/wiki/TIGER_21

BP Should create its own group like this. Members must have at least X properties under their name to be a member…..they must have monthly conference calls through skype….whatever. Discussions could range from portfolio health, goals and strategies, to proper insurance coverage and estate planning, etc. Just a thought. :)

I recently put an ad on money360 looking for a lender on a buy and hold property. After my information was submitted I never heard anything. So, I didnt have any luck with it.

As a side bar, I had to enter my information three times which was very frustrating. Every time I tried to submit it, the spaces would be blank and everything I entered would disappear. Not sure if it was their glitch or mine, but just a heads up for anyone else who intends to use that site.

I hope this helps.

Samuel, I downloaded the file all at once yesterday and it started out saying it would take 6 hours, but ended up taking about three hours....so, it may not take as long as your computer is telling you. Just a thought.

Hi Drew. Welcome to BP. Its a great site! I am from Pitt as well. A few of us started compiling a list of useful sites for local investors here: http://www.biggerpockets.com/forums/517/topics/76838-useful-sites-for-pittsburgh-investors

Feel free to add some more if you are aware of any other websites that were excluded.

Ken

Thanks for the replies, everyone! I am going to reach out to several of you privately.

Ken

Bill and Chris thanks for the replies. Chris, I am going to send you a PM to discuss a bit further....if you dont mind.

Thanks again,

Ken

Hey all, I have an interesting hypothetical situation and am curious to get some thoughts.

Components:
1. The goal is to build a highly profitable, cash flowing rental portfolio
2. A family member offers to lend you $50k to start investing (with a payback deadline of 5 years).
3. You also meet a private lender who will lend in two separate ways: Long term (10-15 years) mortgage on investment property at 10% with minimal down payment (this is negotiable, but it’s just so the borrower has SOME skin in the game), or short term (minimum of one year interest guaranteed) at 12% (acepting interest-only payments).
4. You have hooked up with a local guy who has developed a way to identify all local MLS Multi-family properties that that offer the highest returns.

Questions:

How can one maximize the use of the $50k? Is there a way to use it as a down payment, then refi a year later to get it back…then reuse it again as a down payment on another property? I understand this won’t be a “cash-out refi” per se, but what if the 50k is lent to me as a second (position) private mortgage on the property; wouldn’t the refi mean the lender of that mortgage (a family member) would get paid back? Then, they can turn around and do another private mortgage on the next property a year later?

Would you recommend using the 50k (from a family member) as a 20% down payment on a commercial loan, or use the 50k as several smaller down payments on several private mortgages so more properties could be acquired (because the private lender doesn’t require a 20% down payment….just SOME skin in the game, which equates to smaller down payments )?

Sorry if this is confusing. Basically, the question is how to to -maximize- the use of $50k?

Hi Al,

Good Question....I am not entirely sure what specifically should be my end game, other than financial freedom. (I mean I havent decided if the goal for me should be number of properties, cashflow, multi-family focus or single family focus, etc.). :)

I ask because I am partial to multis (4 and under) but dont know anyone who invests in ONLY in them. Except that one dude here who i cant find again.

Thats a great idea. In fact, I have reached out to several BP members for their rental business plans and am using them to customize my own for several reasons:

1. They have more knowledge than I do
2. They have already walked the path I want to walk
3. Why reinvent the wheel?

But the plan I do finalize will then be posted on BP for comments, suggestions from the gang.

I love this site!

The Dealmakers's Guide to Commercial Real Estate is beginning to appear to be the next sasquatch for me--rumors it exists, but no confirmed sitings! I have been watching the net (allofcraigs.com, ebay.com, google, etc.) carefully to find a discounted/used copy....but havent found it. Not even an overpriced one. I guess that testifies to how good it is since nobody wants to get rid of it. :)

If anyone has a used copy of it to sell let me know. Thanks, all!

Hi Brandon, thanks for the reply. I already have your ebook, but i recall reading on here at one point that someone actually developed a business around only buying quads (and maybe tris, too). I cant seem to locate that post though.

Thanks again for the reply.

Ken