All Forum Posts by: Kyle Mitchell

@Dave DeMink You need to be sure you understand the difference between Return of Capital vs Return on Capital.  You don't necessarily need to payout the 8% pref immediately and once the property is stabilized and at the 10-11% you mentioned you can increase the payouts so you "catch up" on the balance owed from the pref at a later date.  The key here is the communication to your investors explaining why there is lower returns to start for a value add play (easy enough to do).  As long as your business plan and communication to your investors is clear then you should have no issues paying out lower in the first 6-12 months until you can hit that preferred return once stabilized.  

@Brandon Oldham Agreed with everyone on this one, there are so many networking groups in the area where you can find partners and connections.  This is how I found my partner.  I will say that it does take time and it's best to be patient when trying to find a partner.  Remember, a partnership is much like a marriage and not something you want to rush into.  Take the time to get to know them, make sure your values align and feel one another out.

Hi @Chirag Dave, we invest in both Phoenix and Tucson and would be happy to talk to you about the market.  Send me a PM and we can discuss.

@Thomas Henderson We use Hubspot and it has worked well and has a good free version.  Easy to use and no complaints so far.

@Marie Ruiz We host a meetup in Scottsdale and I am in Phoenix every other week.  I would love to connect when I am out there and see how we can help add value to you.

Are you new to Real Estate investing but don’t know how to start? Perhaps you an experienced investor with properties but you aren’t getting the returns you desire. Are you interested in cash flow, value-add properties, and opportunities outside of CA? Do you want the financial power of multifamily real estate working for you?

If so come join us. We invest in apartments in cash flow markets that simply make sense (or dollars!). Our members have closed properties in markets such as AZ, TX, FL, GA, IN, IL, OH, MD, MO, ID, UT, & TN. Apartment investing is a team sport. So come join the best team around, the Multifamily Masters.

This group is for anyone interested in investing in multifamily apartments. Our group started in Southern California and now we hold monthly meetups across all across the nation. Locations include:

Baltimore, MD
Camarillo, CA
Downtown Los Angeles, CA
Long Beach, CA
Marina Del Rey, CA
Pasadena, CA
Manhattan Beach, CA
West Los Angeles, CA

Day and times vary by location. For the most up to date schedule and venue please visit the events page.

Hope to see you all there!

FB: https://www.facebook.com/groups/mfmasters

URL: http://www.multifamilymasters.com

LinkedIn: https://www.linkedin.com/groups/12112739

Congrats @Jordan Archer!  Sounds like a great event and nice job taking action.  Best of luck on your continued success!

Welcome @Pankaj Sharma!  I am not from your area but happy to help in any way that I can.  You can also check out the events page on BP to find local meetups in your area to network at.  

@Kyle Smith 

1. Get educated

2. Build your network through meetups & seminars

3. Align yourself with people who have the same values as you

4. Add massive value to others

5. Partner with others that are doing what you aspire to do

6. Take massive action

@Robert Perez For me it has been putting in the time and effort upfront (for several months) meeting them in person, touring their properties and building relationships with them.  The first thing I did was interview as many PM's (through referrals) as I could and narrowed down to the top 3-4 that I felt comfortable with after my first interaction with them.  From there it took several phone calls and market visits over the course of 4-6 months until I finally landed on the PM I wanted to go with.  I know it may seem like a lot of upfront leg work but PM's will make or break your deal and it's important to go with the right one.  As they say, fire fast and hire slow.