All Forum Posts by: Luke Miller

@Isaac S. you're going to get a thousand recommendations here. The idea is to choose someone who you feel comfortable with. I just posted a video on my YouTube channel about questions to ask a sponsor to vet a deal. 

The content was crowdsourced from a bunch of passive investors and these were the main take-aways from folks: matching risk tolerance, track record, investment philosophy, ethics and location are all critical. 

I haven't looked into pipedrive much, but it has been on my list to try. I've been using contactually with mixed results. Frankly, it's expensive for what it does. I wish it had more features.

@Nicholas Trans if you're looking to be 100% passive that really limits your REI options. It's not a bad thing at all though! I would focus on trying to maximize your income to passively invest in syndications or other wealth GENERATING products.

You're well positioned to succeed, but you might need to narrow your focus to passive strategies. Bigger Pockets is great, but sometimes it can be distracting with all of the different strategies they cover. Some might not be possible for you.

Whatever you decide, just get started - that's the key!

I have said it before here and i'll say it again. Bigger Pockets does not do a great job at differentiating between a "guru" and someone offering coaching or training. Just because someone values their time and charges for it accordingly does not mean they are "pushy" or "salesy". 

If you don't like what a coach is offering, don't buy it. It's that simple. 

@Kalen Jordan if a lot of syndicators are being honest, the real reason they sell is because our biggest capital event is on the back side. AKA syndicators make money on sale, not on holding. 

I think that's a flawed reason to sell and NOT in the investors best interest. Refinancing and/or supplemental loans can get you your capital back, without the hassle of selling. 

My preference is to model a 5-7 year hold with a sale in that period, but if I can fulfill the business plan and keep the property, I am going to. That is essentially an infinite return for the investors at that point. Who wouldn't want that?

Thank you, @Brian Eastman for explaining it so I didn't have to. That was my experience as well.

Are you saying solo 401ks are the same as an eQRP? That’s not what I have been told.  

@T Lee a couple things:

UBIT is not taxed on passive rental income because it's not treated as income, its treated a a disbursement. This is how you're able to show a "loss" on paper while still receiving cash flow. 

You might want to look into an eQRP. It's similar to a Solo 401k, but it might have some benefits for you. I'll send you a link to talk to someone if you're interested. 

@Neal Stanfield i'm one of the hosts of the Badass Meetup. I handle the one down south in the Tech Center. You can find the next one here: https://www.biggerpockets.com/forums/521/topics/791751-dtc-gathering-of-badass-real-estate-investors

If you're closer to Denver you can check out the RiNo one here: https://www.biggerpockets.com/forums/521/topics/791531-denver-meetup-january-27th-2019-badass-real-estate-investors

As @Josh Hopwood and @Craig Curelop said, the Badass events are the best in the state because we don't have any courses or sales to provide. It's pure networking and beer! Shoot me a message if you're looking for something specific.

If you're interested in syndicating multifamily properties, I also run a meetup (also no sales or pitches) here's the next meeting: https://www.biggerpockets.com/forums/521/topics/791752-making-or-breaking-your-multifamily-deal-through-asset-management

@Dylan Bard do some research about the differences and what is required of both. Syndications can be expensive to set up. It might not be required if your friend wants to do a bit of work and stay "active" in the relationship. I'm not a lawyer though so you would need to talk with a professional.