All Forum Posts by: Michael K Gallagher

@Kevin Van Ness thanks so much for sharing!  and for taking the time to write it.  I think you like most people that actually stay in this industry for the long term realize its not all that passive when you are the one managing and handling things, but at the same time, there is no substitute in my mind for self managing a portfolio.  Sure their are good managers and hybrid approaches but you still end up involved to some degree no matter what.  

If you're done with the "work" portion of it mentally I don't think there is anything wrong with selling off all or part of the portfolio and moving those proceeds into something more passive, and I'd go as far as to say that doesn't even need to be real estate.  But there is much you can do in real estate that's more passive obviously.

I'm with you in that I'd want to either start hiring a team and making it a "company" of my own, where Im not involved as much rather than hand it off to a manager.  If that kind of work excites you or feels light, you've got a pretty great leg up and book of knowledge to scale this thing to a "family office" type thing.  

But again no shame in throwing it all in the market and living off the interest either!

@John Neil Stanback I don't personally have a "go to" but this is for sure something people do.  I've toured many projects that have security.  I think the most common one I've seen in our market is a system called "tatle tale" but I've also seen many simpli safes.  As far as getting wifi I think most people either get it installed for a short period or use a "hot spot" type product.

@Danny Green this is a forum for education, if you're asking how you can prospect specific buyers for a certain type of deal I'm sure there a several people here that would weight in. If you've got an active deal you are slangin as they say...I believe BP still has a classifieds section you can post it on.

Hey @Scott Blake welcome to the forums and man that sounds like a hell of a project!  You mentioned doing multi family development and retaining some of the rentals...does this mean this is an apartment complex style building and youll be selling as condos, or are you building 150 single family homes/duplexes/quads?  either way sounds very interesting, do you have background in this kind of development?

@Paul A Christy I don't have any requirements in that market at the moment but I'm curious what your plan to build was.  you said you got approvals, what was your vision for the project?

@Robert Ellis really interesting and thanks for sharing!  just to confirm these are land purchases that are over 50 acres that are tracked?  what's the logic or thought process there with that cut off?  just curious.

@Kyle Folmar my biggest question is what is your feeling and projection for the new market you are moving into.  Sure the rents are lower now, but if you don't have a loan on that property and keep it long term...what does the project rent in 10-15 years look like?  if you are pulling equity out and "resetting" your growth in a way by purchasing at the "bottom of the waive" for instance you are setting yourself up well to ride that wave for the long term.  there is never really a right or wrong to these things, just want works for you and your specific situation. 

@Llamier Guzman if you have a search set up with an agent there is no other service or platform that will give you more info than the MLS for on market properties. If you have a timeline in mind, often the best way to stick to that timing is going on market, and will allow you to use your VA loan and do all the inspections you will be required to do with that loan type.

The only other thing you can do is go off market, and start going directly to the sellers, but again if you are looking to use your VA loan product that's gonna limit you on what physical condition the property can be in to purchase it. This is obviously something that can and does work all the time, you just never know timing wise when that property will pop up.

If you are looking specifically for a house hack and are not finding what you want in a duplex, you can widen your search to include SF properties that have an ADU or basement unit, or simply is set up well for roommates. There's nothing that says a house hack has to be multiple units.

@Tia Rawe welcome to the forumns.  looking forward to hearing more about what you are  working on and targeting.

  Are you planning to leverage your current business into an owner/operator type situation?  

@Taylor Georges welcome to the forums you bring some great experience to add value so I look forward to seeing your posts.  

I too operate in cbus, happy to meet you.  I live in Franklinton and have a duplex in south of main, and am fulltime as an investor agent, but seem to do more and more commercial now honestly.  

Do you focus on any specific areas?