All Forum Posts by: Michael Le

Would that be different if he was a full-time qualified real estate professional?

Well, I would say you need to get even more savvy then because you running numbers won't show what the lender's returns will be but rather what you think your investors returns will be. The lender's returns will be whatever rate they are willing to lend to you for that specific property. Lots of books and podcasts out there. Get some education first and then approach the lender so you will be speaking the same language that they expect.

As Greg mentioned, you generally raise the money during your initial raise. Any extra money you raise now will dilute the returns for your investors so that means your initial return proforma was misleading if you knew you needed this money to do renovations.

There is really not much to malfunction. It's a big hole that holds water to runoff somewhere else. It is common and the requirements after Harvey are higher so it should even more water now. If the neighborhood plans well it can be an amenity if they add a dog park/playground as I mentioned.

It depends on your land but generally yes, you'll need a detention or a retention pond although in Houston retention is not typical. Not sure what you mean about resale value. You mention complex, which makes me think of apartments, and then you say houses by the pond. Either way there should not be an impact as you can dress them up nicely enough. If you have enough land such that you don't need to make the detention pond too deep then you can put a playground/dog park there and turn it into an amenity. If you don't have a lot of land and it turns out you will need to dig deep then you'll have to put a fence around it for safety reasons but then you can do something like a path around there for jogging, etc.

I think there a few factors. Will it be climated controlled? Will be it single story across the property? Or will you build it up 2-3 stories? Being that it is in a semi-rural area and this new highway isn't there yet, I would do a feasibility study.

I have not invested but James is a friend and a great guy. He's also a very good operator from what I've know and seen as he does share content online (walkthroughs of the aftermath of fires at his property, etc).

There is a cost and time advantage. You won't use as much concrete as a traditional facility, which makes it a bit greener project too as concrete factories create a lot of CO2. And it cuts off about 30-40% of the time for the project build too. 

https://www.meetup.com/Multifamily-Wealth-Network/events/263652077/

Come join @Juan Vargas and myself for our August 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!

Yes, it has. Our next one is October 12th. I'll make another post for that.