All Forum Posts by: Len Grosso

Have you done the math?  Compare the cost to build right up to tenant ready, against the cost to buy similar.  Of course try to have equivalent properties as far as class A, neighborhood etc.  There will most likely be a difference in operating expense since one is fresh & new.  

Not to complicate things but being a builder you could consider other strategies like building an ADU to existing plex.

Sounds exciting.  

For the more recent visitors here, I looked into this business model a few years back.  I was very skeptical and didn't pursue it  although having bought the model / course and documentation.  
Now, as it happens I have a renewed interest.  

Looking to connect & build a Team in Knoxville area to work with for small commercial multifamily purchase and rehab.  

If you are interested at any level, please contact me.  Possible synergies would be anywhere from using your help to professional services such as builder, legal & property management.

Thanks, Len

That boat is starting to get crowded.  Count me in (the boat).   

I have had some similar experiences to the above.  I'll update later in the near future since I'm trying to decide how to proceed.  

Thanks, Len

Lots of good comments but is there an updated list of SD IRA companies?

Would it be reasonable to assemble a list with comments  in spreadsheet fashion?

Personally I have worked with Provident Trust in Las Vegas.  They are extremely slow to do anything IMO & experience.  Considering IRAServices now.

I was contacted by a person who wants to sell her mobile home.  problem is I am not familiar with that market but am willing to partner or other arrangement.  

It's in a mobile home park in a rented space.   Does that make it an impossibility?  The price is a complete guess but needed to post.

Thanks

Are you expecting more like this? 

Passive income is not difficult, tricky or unusual at all.  What would be be unusual is a portfolio of small properties that qualify as passive. A few of the posts here already point you in the direction of 100+ units and I definitely agree. The key factor in 'passive' is that others work the management. Property needs to have 85 - 90 doors min. to economically justify professional Property Management. Drawing from my experience with passive CRE I would be investing in several properties in the 150 - 250 door range, all passive. I don't have anything not in double digit. One other note, in my opinion the best indication of returns for this kind of asset is IRR. It gives the overall, over time performance.

Piece of cake as they say.  

I would look at apartments in the same category and contact the management.  It's nice if the management has expertise in the same type property, class & size.  You can also try the PM's publications for names.

Hi Andy, I am having a similar challenge and found your post snooping around for hints.  My (one of) business would benefit from (needs) adding marketing and I'm brainstorming ways to add it or partner.  It would be nice (convenient) if local but I have also worked on globally distributed teams for years so I know that can work just fine as well.  

I also have given thought to doing some single family deals in remote states.  Its a very tight market locally.