All Forum Posts by: Tj Hines

@Eric Wells ringless voicemails

@Josh Richter 5 minutes from downtown sound great. South St. Pete isn't the greatest area. If it's true downtown then you might be okay.

@Les Dell you should try posting this in the BP marketplace. You wont get any attention here.

Sorry to hear about this @Thripura Vemireddy! Sorry to say but their aren't any exemptions you can make. You will have to bring the property up to today's code. It's unfortunate. The only way you can get away with this is not pull permits and hopefully fly under the radar. BUT ... if you get caught there are some serious consequences, I'm sure you don't want to face. You may just have to put the money into it and weather the storm or sell it now and get out.

@Tanner Enderle I would definitely be thinking larger as you have the economies of scale working for you - more than you do with SFH.

First and foremost getting educated in your specific niche whatever that may be. This will give you a solid foundation to now know in what direction you need to head.

Me for instance I would go multifamily and jump into syndication. You can go fast alone, but if want to go far you gotta do it with some one else. Strength is in numbers. Go bigger!

Hey @Matt Wills! What's your specific question? These structures are pretty normal across the board if this is what you want to know

@Damian Ramirez the best deals as you're just starting out will be found off market. Rarely anything on market will make sense to buy. I don't care what market you're in. Pull a list from listsource. Filter down to the criteria you're looking for. Start sending mailers, cold calling and RVMs. Good luck

@Timothy Valley

Essentially, what would you do in my situation? (You're on the right path of educating yourself. It starts there. That will give you the foundation you need. Next is figuring out what type of assets you want to become an expert investing in. We love multifamily. Self storage and mobile home parks are good as well. All recession proof in my opinion)

What should I be focusing on organizationally? (Focusing on building out your external teams of property management companies and other syndicators who are currently syndicating deals. If you partner with experienced operators. Their experience makes up for the experience you don't have. Not only that but you have immediate access to their resources. That's something you can't put a price on)

Should I set up an investment fund? (I would stay away from this unless you have experience of taking funds in and returning them to investors. Essentially you would set up a 506C syndication structure since all of your investors are accredited. If not accredited then you would set up a 506B structure.)

What would be the best setup for me specifically as someone who will only be contributing sweat equity? (506C or 506B structure with carried interest of 20-30% on the equity split 70-80% going to the investors. You may want to offer a pref as well.)

I live in Los Angeles and was leaning toward apartment building that I could then help turn around and manage but I am 100% open ears to any advice or direction anyone is willing to give. (Good luck finding anything in Los Angeles. I heard from many investor associates prices are outrageous there. Most guys from out west flock to the Southeast. We're in the florida markets and other markets nearby as well)

@Hedi B. There are a ton of good markets out there. You're smart for looking outside of Cali.

We tend to focus our efforts in markets located in the Southeast and a red beam dot on the Florida markets and different sub markets located with in the florida markets

@Mike Meerschaert 
Do things like being next to an auto body shop and a large apartment complex affect the amount that I'd be able to ask for in rent? (Absolutely it will affect the price you charge in rents. Simply put yourself in the tenant shoes. Ask yourself would you live there? If the answer is no, then what quality of tenants would say yes. You may not attract the best tenants regardless of the area.)

And any advice on making an offer? (Make an offer that's in line with other comparables in the area similar to the number of units, sqft and condition the property is in)