All Forum Posts by: Michael Le

Sounds like a troll post. But I'll answer.  

I wouldn't assume anyone should be paying unless something was said in the conversation/invitation. If you feel like the lender did you a solid then go ahead and pay for it. Is it really that big a deal though?

How about just issuing a lease violation and then evicting them?

Just talk to your Sherwin Williams rep. Their paint is clearly marked for exterior/interior for the same reasons you're looking.

Have your attorney review but my experience is you can't get out of them.

If you don't know how to underwrite these deals and are not sure if it's a good deal, then I would say that this is NOT a good deal simply because it's too big a deal and too heavy value add for someone new. Beyond that, you provided really no information so no one will be able to get you an answer.

I'll be going but won't be back in Houston until late Friday. But will be there Saturday morning.

It's a bit like syndicating debt and works if you can drive the value up by a lot. Most B/C deals nowadays are more light value add where you end up only truly increasing the value of the property 20-25% or so but because you leverage the deal you can get your investors a good enough return. To do a model like his you should have very heavy value add deals where you could refinance and get investors fully out after a couple of years.

https://www.meetup.com/Multifa...

Come join @Juan Vargas and myself for our November meetup, we will be getting together to talk multifamily real estate investing. Anything and everything that you'd like to discuss or ask. Networking is extremely important for your growth. See you there!

P.S. Don't forget your business cards!

You didn't mention if you will be buying it buying this by yourself or with partners or trying to syndicate it with investors? You mentioned connections with individuals so I assume with partners or syndication. A lot will depend on your experience with real estate in general? Will you have partners that will bring experience and help you manage it in general? Have you raised money before? Do you have the balance sheet to qualify for larger loans? Do you plan to be a hands on landlord or will you get 3rd party property management?