All Forum Posts by: Michael Le

You'll need to provide more information. Are you talking about Houston or Dallas? Are you talking a duplex or 300 units?

Technically, yes. But I doubt the SEC is going after folks like that since I bet you a lot of 'partnerships' are set up the same way. But that's not legal advice :) 

It's 21k jobs cut but not all of that (or even most) will be in Houston.

Likely overstated income and understated expenses. Just do your underwriting and use your own numbers against the sale price.

I'm not sure. But I know many dozens of owners that started this way. Probably because I did too and that's the circle I've surrounded myself with?

As for genuine mentorship, etc... that's great if it happens. It's ideal. But if someone wants to get started and your recommendation to them is, go out there and find a mentor, how often does that happen? Just go out there and find someone who will take you under their wing simply because they like you.

That's odd because half of the owners I know started in some program. It seems to me the most vocal anti-coaching posters in this forum are people who don't own large MFH at all. I'd love to hear from someone who's joined one of these programs and considered themselves ripped off/scammed. Feel free to a post a link if you know of an instance.

That's because 506(b)s make up like 80%+ of all the syndications :) Plenty of sponsors out there still using that exemptions. 

Definitely. There will be a price discovery going on but right now it doesn't seem like either side is giving in much. Volume of tours and offers is down but Sellers only need that one Buyer, which seems they are managing to find. 

It is true that most properties have not been as impacted as originally feared. April was better than expected and May even better. But with no more stimulus and unemployment running out (unless refreshed) then right now some surveys are saying that June will not be as good. We're only on Day 2 but all of my properties have been slower. Too early to give a trend so we'll see. July could be worse too.

Too many new investors want to put the 'cards' before the horse. So much focus on website, branding, podcast, etc, without any deals. While all of that eventually becomes important right now you should use that energy and momentum to get a deal going first.