All Forum Posts by: Mick Harvey

I am in the same exact situation and have been for years on a property. Was holding for my mom and now she isn't going to live in it. So do I hold or sell? I have done lots of research and doing as stated, 1031, but waiting for right time and ready to buy a like kind property to follow the rules I recommend hold and 1031 when its time

I believe its called a grand lease that I am thinking of. But anyone heard of this. Basically a contract writen up with a lawyer to control a property. You have all rights on it, collections, payments and management and then you pay the owner. Not sure details. who owns it, whos title in.

Asking, because I have a relative who owns 36 properties and getting older, and I want to start acquiring/controlling them, which will help them as well as me. easy transaction, hopefully. BUT, I dont have buckets of cash to throw at them; therefore want to control and pay them over time and eventually buy them.

appreciate all comments and suggestions

Mick

not as much as I was. only reason is kids and moving, priorities have shifted some. Now that we are done moving kids are little older and I have a job that I am home more allowing me more time for this, I will be cranking up the steam again. I did do the coaching for a year. It was good but bad timing for us.  once I have a property under contract, I have talked with the coaching manager and will be back on until closing. So i do trust what they have to say. IF I was going to do the coaching again, it would be with a partner to get more benefit out of that large chuck of cash.

Orion is right on, its great to have the motivation and some cash to do something, but one bad investment will eat that right up. seems like you are in the time in your life when the gambles can be made and live minimally. do it now, take the risks now, but make sure they are calculated. 

I am perusing multi's as well, but I am from the east coast where i have done my investing and still do, which offers go in at 50 to 75k per unit. Here is more like 125k. I now live in Napa, but this area is very tough to get the numbers work. As Orion stated, even if those units are rented its still tough to break even with all the expenses. and breaking even is not why we all do this.

I enjoy sharing what I know and open to all avenues and suggestions as well. Contact me any time and can help where I can. If you have the time and knowledge to do the rehad and some cash to put in the game, I or others could make something work. But the right partner makes all the difference in the world.

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Wow, this is an active group, I guess I need to check on here more often. Wonderful to see.

@dmitriy fomichenko, thank you for the links, they will be very helpful.

@minh l., yes Daves books are the brief of the camps, but do help you work out the analysis with other members and help look for partners and money for deals. Only went to one and it was great, partners lost steam and bailed, but that can happen any time. Dave’s books are ok, he is no Hemmingway, but they are basic and to the point for anyone to read. The emerging market is the whole basis of his teaching. Being a civil engineer and working my way out of a job by over developing an area, I had to understand why. Dave answered it. Not for everyone, but I drank the cool aid.

@kevin young, I am not sure how to IM, but I think I sent you a message. Would be great to chat

ALL: thank you all for the warm welcome. This seems to be the best community on the web that I have seen. I hope it brings what we are looking for.

Cheers to the future of investments.

Thanks for the reply Minh

which book have you read. if you are interested in another or different ones let me know. I have spent a lot of time with his material and no other guru has wow'd me like he has. I have drank the cool aid. A lot of his "successful" students are in TX. that is the market that they are killing it in.

great I will try and look for him

you as well

Im new to the bay area and to BP, but old to multifamily investing per the Lindahl model. Im looking for other students or people that have attended seminars to bounce ideas and/or partner with, using his model.

I still have contacts and actively searching in the SE of the US but now want to peruse in my back yard of the bay area.

Welcome any discussions.

hello everyone, new to bigger pockets. Its great to hear that there are multi shoppers in nor cal. I just moved to Napa from east coast. I have been chasing the curve from CT to FL. I have a few purchases over the years living in VA and NC, but when I got to south FL, I couldn't play the game that needed to be played. I have been learning a lot and taking courses on the multi game and I am still after it hard in the SE, but looking to get into my back yard too. I am looking for partners with the time and energy to make it happen. I am always looking to talk with people of same interest. Please contact me and lets talk and help each other be successful