All Forum Posts by: Lennon Lee

@Theresa Nelutescu I know see where your negative cash flow comes from. 

I personally wouldn't do my numbers assuming 100% financing. And I might be wrong here, but I don't think you can get a commercial loan for 100% of the purchase price. 

Anyway, I would say be conservative but don't run the numbers under a scenario that you know it's not even possible. (Unless of course you really have no money for down payment and are able to get 100% financing on a commercial loan)

To answer your question about if I would invest in this deal I have to say I wouldn't. But it has nothing to do with the numbers or with the deal itself. I just invest in a different type of product within the multifamily real estate asset class.

If you have a defined criteria and are clear about what type of returns you are looking for then run the numbers using a conservative but real approach. I'm sorry if I don't gave you the answer you were expecting but I hope it helps.

Best,

Lennon

@Theresa Nelutescu the information you provided clearly shows a $3,527.28 monthly cash flow. The only way the property doesn't cash flow (positively of course) is if the expenses are higher than the income.

would you walk us through your calculations?

Hello BP, Tax season is here and I was wondering if anyone knows a CPA down here in Miami that not only specializes in real estate but that is also a real estate investor himself or herself. I already met with a great guy in Sunrise, FL who I believe will provide a great service but I just wanted to have another options to consider. Thanks in advance to everyone! Lennon

@Lane Kawaoka thanks for sharing the markets you are looking at Lane. I actually coincide with you on some of them. It would be great to chat further and share investment criteria and maybe explore ways to collaborate.

Will message you directly.

@Prasad J. The mentoring program is a paid program and it has a pretty simple straight forward structure taking you from Zero to your first syndication as soon as possible (It will of course depend on how hard you work towards that first deal). 

I find it extremely helpful to have access 24/7 to someone that has done and currently does what you want to do at a high level. Books and podcasts can only take you so far in terms of answering the day to day questions that will arise when building your investment company. 

Contact me directly if you have any other questions or would like to chat further. I'm by no means an expert in the subject (yet) but would be more than glad to share what I've learned so far.

@David Thompson David thanks for posting! I've heard some of your interviews and I really have to tell you that I admire what you've been able to accomplish in the apartment investing realm.

As I mentioned in my reply to Tamiel, I do bring some value to the table other than some money. I'm really confident in my strengths as well as really aware of my weaknesses. 

I'm currently receiving mentorship through a great consulting program and I have analyzed more that hundreds of multi family deals just to practice. I've read several books, lots of articles and listened to hundreds of hours in podcasts. I have access to brokers and successful property management companies in Texas and Cincinnati  by leveraging my relationship with my mentor. 

Partnering with an expert and leveraging his/her credibility while providing as much value to them as possible is exactly what I'm aiming for. 

If it's ok with you I would like to contact you directly and further hear your thoughts on how to build a strong value-based business relationship with a potential partner.

Thanks David!

@Tamiel Kenney Thanks for replying! It's always impressive to me how this community allows us all to get in direct contact with and get to know people that are in the position that we aim to be at one day. I just think that's invaluable. I mean 1,300+ units? wow!

I totally agree with the whole T.E.A.M concept and that is why I decided to seek out a partner to join forces with and hopefully start stronger than I would on my own.

I'm 100% with you on that every partner should bring as much value to JV as possible. The goal is to build a team where the weakness of one is the strength of the others.

What I bring to the table:

I have a lot of multifamily education in the form of hundreds of hours of podcasts, books, an investment on a 296 unit apartment complex, and an ongoing consulting program with the principal of a multifamily investment company with $100MM+ in assets under management.

I will be bringing a minimum of $200k of my own capital to the deal and I have access to a small network of investors from where I'm confident I can raise another $500k to $1MM for future deals. 

Access to market knowledge and brokers connections in Dallas, Tx and Cincinnati, OH through my consultant/mentor. Relationship with local brokers in Miami, FL.

Being a Bachelor in Engineering and Masters in Engineering Management I'm very detail oriented and have very strong analytical skills.

What I don't bring to the table (Yet):

First hand experience purchasing and managing apartment complexes.

Strong balance sheet and liquidity.

Lender experience

Tamiel, I hope this information helps to paint a more detailed picture of what I'm about and maybe opens up doors to collaboration with you and your company. 

Expect an email from me soon ;)

@Nathan Click Thanks for replying. I would love to hear the financing options (if any) that I might have at the current moment and share my partnership goals. Will definitely reach out to you soon. If you have a particular time and day that you like to be contacted let me know.

Best!

@Omar Ruiz I would definitely like to get in contact and share our goals and vision and find ways to collaborate if possible. Will message you directly to your inbox. Best!

@Account Closed Let's get in contact via and since you are in the Ft. Lauderdale area we can maybe grab some coffee and discuss our real estate goals and find ways to collaborate. Share your contact info via PM.