All Forum Posts by: Michael Le
Michael Le has started 14 posts and replied 1605 times.
Post: Brad Sumrok Coaching
- Developer
- Houston, TX
- Posts 1,635
- Votes 1,365
I've had success with it. Feel free to DM.
Post: What is the best way to find Multifamily deals in Houston?
- Developer
- Houston, TX
- Posts 1,635
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You could probably occasionally find deals of that size on HAR. Sometimes the seller just uses the residential listing agent they're familiar with so you can get lucky as no one else will be looking there for that property. There are also brokers that specialize in those smaller properties, so I would suggest reaching out to them. Reach out to Brian Janak at Inner Loop West brokerage. Also, I don't normally suggest doing direct mail marketing for apartments (50+ units) but they do work for the size you're looking at. So you can try that too.
Post: 68 Unit Case Study- First Multifamily Property
- Developer
- Houston, TX
- Posts 1,635
- Votes 1,365
Originally posted by @Eddie Delaney:
Just wanted to update the case study with my first apartment complex. We are in contract to sell the property!! Return on investment for 16 months is over 120%. It's been a great experience and a tremendous boost financially. So it's time to look for another opportunity. Anything with extensive rehab needed to re position property up to 10M. The uglier the better! Let me know..would love to partner or return some equity for any deal you bring us. Also, please feel free to PM me for any help or encouragement! If you can dream it you can achieve it!!
Awesome job man
Post: How to Raise Private Capital - Experience with Chinese Investors
- Developer
- Houston, TX
- Posts 1,635
- Votes 1,365
Great story. Thanks for sharing.
Post: Who are your favorite syndicators?
- Developer
- Houston, TX
- Posts 1,635
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Originally posted by @Cody Rubio:
Nobody educates more than Joe Fairless. From his podcast to his Syndication School, lots of great free resources.
Does voting for your boss count? lol
Post: Houston-Woodlands Multifamily Meetup
- Developer
- Houston, TX
- Posts 1,635
- Votes 1,365
Originally posted by @Laurie Gasper:
I am interested in this event
Looking forward to see you there!
Post: Houston-Woodlands Multifamily Meetup
- Developer
- Houston, TX
- Posts 1,635
- Votes 1,365
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!
Post: Question For Syndicators
- Developer
- Houston, TX
- Posts 1,635
- Votes 1,365
The projected returns should be to the investors and not for the project. So since capex reserves and AM fees should be taken out before you distribute profits, it should be included.
Post: How do I vet a syndication as an investor?
- Developer
- Houston, TX
- Posts 1,635
- Votes 1,365
Originally posted by @Kayla V.:
Hi all! I'm interested in passively investing in large apartment deals. I already have connections to a few operators and have browsed their packets but haven't pulled the trigger yet.
Does anyone have any recommendations for educational resources (books, podcasts, courses, etc) for how to vet the operator and the deal itself? I understand the math but need more information on what to look out for as red flags.
I'm seeing returns of around 18% IRR for a 5 year hold- is that in line with what most are offering?
Thanks!
Have a look at this book too
https://www.amazon.com/Passive-Investing-Commercial-Real-Estate-ebook/dp/B07MYCK56B
Post: Would being a KP affect your ability to get conventional loans?
- Developer
- Houston, TX
- Posts 1,635
- Votes 1,365
It should not but it has affected me before due to ignorance from the bank. I was in the middle of closing one of my apartments at the same time I was trying to refinance my house. They asked for my bank statement which included a large dollar transfer and asked me what it was. I stupidly told them it was the earnest money deposit for a commercial deal I'm doing and they asked for more information on it. Long story short they put the $5M Freddie Mac non-recourse loan against my debt-to-income ratio. So obviously I would no longer have enough income even to get a Chevron gas card at that point. In the end I had to go to another lender who wasn't so stupid.