All Forum Posts by: Luke Miller

Hey @Dylan Bard just talk to a reputable real estate attorney about structuring a JV, not a syndication, to tackle a property together. Sounds like you both will be active and he just want's to leverage your experience. Might be a good opportunity for both of you.

Great work! That's awesome. What kind of loan did you use?

Are you talking about a career? If so, being a commercial broker is tough work. You'll basically work the first two years or so at a very low salary and then you'll start getting paid more if you're good. You'll probably start out on the leasing side and be making hundreds of calls a month.

It's not glamorous, but it could be a great way to start if you're hungry. 

I say this all the time, you need to focus on your goals first and then find a coach that fits those. Your goal is pretty clear, and definitely achievable, but there are coaches that are still trying to get to 500 units of their own syndicated deals, so you need to choose carefully. 

As @Taylor L. said, some coaching is NOT 1 on 1 and for me that was a deal killer. I wanted direct access and found someone!

Coaching programs are expensive, but if you're willing to hustle and outwork your competition, they are invaluable. I'll shoot you a PM with my recommendation. 

@John Moss $50k is enough to start depending on the type of investing you're looking for, but I would really focus on trying to get that number up a bit. It's hard to give any sort of advice without knowing your full story, but do you have the ability to make more in income? 

I know $50k is not enough for me to take as a syndicator. I focus on helping those that have the ability to invest that amount, at least, annually. 

There are vendors that negotiate with companies, but across larger portfolios. My advice would be to call other management companies and ask what they use. 

@Lisa Hill in my experience, dealing with QOZ transactions is more for developers and heavy repositioning. There was a lot of buzz about it a year ago, but most investors realize that to substantially improve a building, you need to put so much money into it, it doesn't always work. My advice would be to just sell and 1031 into something else. 

Hey @Jill Corsiglia you should take some time and do some research before investing in anything. We all started where you're at so no need to feel bad, but I wouldn't want you to waste time or money on something you won't enjoy. If you're settled on apartments, the next step should be figuring out if you want to be an active or passive investor.

If passive, syndications might be the best option. 

If active, you're going to need to figure out what you can afford in an out of state market. AZ and FL are great markets so you're on the right track, but they are also very competitive so you'll need to figure out how to find good deals. Start with reading some books on this and listening to some podcasts. 

Hope this helps. 

@Ron Ripley i'm not financially independent yet, but I have passively invested quite a bit. My best advice would be to divvy your capital up in a couple ways. Like you mentioned, sponsor is important, but also vintage. Don't deploy everything in 2020. Also, you might want to look at different equity structures. (bridge loans, cash-flow plays, hybrids, etc) finally, you'll probably want to diversify over 2, maybe 3 sponsors that you trust. 

This will go a long way in diversifying. $1mm is plenty to retire on if you can keep your expenses low. 

@Samantha L. my advice would be to put your marriage first. There are so many challenges with being married that you really don't need more of them.

That being said, there's so many different ways to invest in real estate without being a landlord. Have you considered passively investing in a flipping fund or a syndication? You get a lot of the same benefits of investing yourself, but it's almost completely passive. If he doesn't want to be a landlord and fix toilets, this is the ideal path.

Start by just educating yourself. If you can bring a solid plan to him, that is well fleshed out, he will be more inclined to listen. Let him know that there are ways to cut the retirement age just by investing in a few properties.

I have a podcast that focuses on first-time passive investors. It might be helpful to take a listen to a few episodes.