All Forum Posts by: Harish V.
Harish V. has started 3 posts and replied 191 times.
Post: Would you do a 2 year lease for you first ever rental?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Agreed, most states have laws restrict from profiting from lease breaking. Hence you only loose. If it's a deal breaker consider, renewal at 5-10% or whatever max allowed by city/county. You can always offer lower rate if market conditions warrant.
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Forget Fiduciary, I am finding more information about Grocapitus/MultifamilyU that leads me to believe strongly that Mr. Neal Bawa is outright bad news and should be avoided. PM me if you want details.
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Agree with Peter that with Grocapitus you need to research the actual principals. You should not rely on Grocapitus to do it for you. They just collect fees and provide you infrequent email update in return. They are not accountable. They are not fiduciary.
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Here are the problems we faced with Mr. Neal Bawas project.
1. Project running 2+ years late due to financing. Good projects should not face this issue. Experienced teams should have network to avoid such outcomes. Problem with underlying data and assumptions.
2. Missed opportunities. Brownfield credits missed, no explanation on why. PPP not taken advantage of. Points to problems with project analysis, network and management issues.
3. Missed market opportunity due to college reopening this year. Points to Management issues.
4. Multiple quarters of busy updates and changing directions, failure to find credible partners. Points to network issues and management credibility.
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Many questions no answers. Mr Eric Bleau, Anna McClure all ran away. Never answered even PMs. Will keep this thread alive with our experience with Mr. Neal Bawa.
Post: Advantage/disadvantage of getting sales person license
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Originally posted by @Max Gradowitz:
There is a lot more to it than most people take into account. There is a cost to the initial education requirements. I can't remember how much it was to take the salesperson education requirements, I took mine over 10 years ago, but you should look into that. Then, the dues. My local association costs me a couple hundred bucks a quarter, so that's nearly a thousand each year. You can call your local association and ask them what their due costs are. Also, you want to be able to open lockboxes to show yourself properties, right? That's an additional monthly cost (at least with my association). Then, you have to hang your license under a broker in order to use your license. Most agree to a split of your commission when you work under their license, some agree to only a monthly desk fee. If you aren't actually practicing regularly, but only using your license for your own occasional investment purchase, you might end up where the only type of broker that will accept you will be a desk fee type, which is another cost you should account for.
I'm not trying to talk you out of it. Run the numbers and see if it makes sense to you. In fact, like @Nick C. said, you could use this as an opportunity to get into practicing RE as a part time gig, making it financially worth it. All I'm saying is 90% of the time, it doesn't make financial sense to do what you are describing.
Thanks for the input. I definitely would like to try and take this up as part time gig. Will see how this goes.
Post: Advantage/disadvantage of getting sales person license
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Originally posted by @Douglas F.:
Depending on where you hold your license, there can be monthly, quarterly, yearly dues that can cost hundreds of dollars to maintain.
I am in California. Any idea of the cost involved for maintain license? I think reporting to licensing authority will not be problem. Only problem can be prohibitive cost that outweighs benefits.
Post: Advantage/disadvantage of getting sales person license
- Investor
- Fremont, CA
- Posts 195
- Votes 112
I am a do it yourself investor. Mostly single family home, buy and hold as passive activity. I was considering getting a SalesPerson license, mostly to allow me flexibility to
1. Write my own offers
2. Flexibility of not calling another agent if i want to see homes.
3. Use depreciation losses to offset the income - overcome limits of passive activity.
Any thoughts on disadvantages?
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Just wanted to update community on the Neal Bawa/Grocapitus state of affairs with Buffalo project. New update after two months. Looks like things have started moving now. Though still picture is murky.
After 2 months the update is that "We are out of investor capital" and partner is loaning the venture money.
No mention of Brownfield credits money that was supposed to be enough to pay 10% preferred return. I did ask, as usual, do not expect to get response soon.
Thats huge amount of money they have been careless with. Still promising IRR 25%. I am sure hoping for that to happen and soon.
Post: Syndicated Residential Liquidation Deal Structure
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Neal Says something and different things happen. I am sure he has said he has pulled this off.