All Forum Posts by: Tj Hines

@Mark Gliebe

What is the right negotiating tactic? (You can always offer all cash to make the offer more enticing. In this space it may take a little time to build rapport and trust with the seller that will sell to you. Follow up with direct seller off market deals are key. Follow up with a nice card or 1-2pg letter, thanking them for the opportunity. It's Holiday time so a thanksgiving card or Christmas card helps. It's all psychology. May be even send a small care packet)

How do other seasoned commercial investors approach off market owners who have not seriously flirted with selling until you approached them? (See above answer)

@Nida Hussaini, it really all depends on what you plan to do with the property. That comes down to your overall business plan and exit strategy. Most definitely get bids from at least 5-7 contractors in your area if you don't access to any right now. This will give you a general idea of how much it would cost line by line item for the exterior and interior. Good luck

@Matt Deochan

Is this a good area to invest(in your experience)? (Check Trulia Heat Map, Spotcrime.com, crimereports.com)

2. What can you normally charge for rent for a 1bd or 2bd apartment? (Check zillow and craigslist. Also join local restate clubs in your area. You can find them in your area on meetup.com. There you will find a few seasoned investors who you can network with and ultimately work together with resources you both have.)

3. Any breakdown of the general cost of expenses? (If you're not sure how to estimate repairs on a property, your best bet is to get a licensed contractor and inspector to thoroughly check the property for any potential issues)

@Shafi Noss everyone here has provided great answers. At the end of the day, you have to know what's best for you! But in my opinion, I think partnering with others who are more experienced brings a lot of value to you and the operator, who in a sense becomes your mentor as well. What's your end goal? Once you have that figured out, you will know more in which direction you should go. Good luck on your journey my friend.

@Hugo Hernandez, if you're looking to connect try searching for local real estate meetup groups in your area on specifically multifamily. Meetup.com  This may present an a chance to make meaningful connections that can help you and you help them with resources along the journey

@Erik W.

1) What is the minimum investment amount I should require from a money provider that makes the most sense for apartments? (Depends on your network. You have to evaluate how much each individual would be willing to invest and then set your minimum requirement from there. I suggest you keep building out your network to at some point at the very minimum you want pledges of 50K+ for each deal. Once the track record is strong you can creep that number up to 100K+)

2) Liquidity / time it takes to access funds. (Depends on where your investors funds are parked. For a 401K or IRA if you're working with a SDIRA company it may 10-18 days. That depends on the service provider)

3) Length of time I should require the funds to be invested in the deal before we "Cash out / Buy out" any one person or the whole deal. (At the least 5-7 years)

@Jordan Santiago sounds as if they may have a strong network of partners to where they can scale this fast. Congrats to those guys. They probably put in a lot of work behind the scenes too as well. In all it can definitely be done. There are no limitations. The only limitations you have are the limitations you put on yourself. Develop the mindset. Work on personal growth development and you can achieve anything. Take care. Good luck.

@Jesse Daconta

What types of lawyers do you need for apartment buildings? (An SEC attorney that specializes in real estate syndications, or even better a SEC attorney that specializes in real estate syndication specific niche multifamily)

Where's the best place to find these lawyers? (Ask questions on forums. Try the BP the forum you're already on. You can also search for previous topics regarding these topics to see what's out there. There are a ton of multifamily facebook groups. Ask for referrals is the best way to go from people who are in the businesses of syndicating deals)

What are the best interview questions you know to ask these lawyers? ((Years of experience? What niche specifically? Does he syndicate more deals in this niche than the other? Are they familiar with asset protection? (Asset protection would be a bonus here) There are more questions out there you can specifically ask))

@Jordan Holliday wish I can help you there and let you know who does. I do know that many foreign investors are pouring their funds into the U.S. Markets. Good luck

@Alexis Ayala this is a pretty vague question. You have to be more specific than that. Depends on the size of property. What's the financial outlook? To many unknown's here to give you a qualified answer.