All Forum Posts by: Tj Hines

Congrats @Tab Teehee for weathering the storm. It's always much sweeter on the other end.

@Manik Sewak you have the right idea by focusing your efforts in areas that are in the path of progress/growth. It's all about personal preference once you know what you want. Can you acquire in a high barrier to entry area with affordable housing? That might be a stretch. The fact that you already know you need to follow the jobs is very important. Are more people leaving an area than migrating to it? All that good stuff. Just stay out of a one trick pony town, you should be good with an asset purchase price of $1mm or under. Good luck

@Nick Cucci, the best way to do this is carve out a piece of the equity of the back end. Take on an active role in the projects in the meantime. Another part of your role could be sourcing the debt/equity to get the project going. Good luck

@Joseph Cameron time seems to be everyone's handicap. It's all about how you use your time. Time management and time allocation. Everyone is afforded the same 24 hrs.

I enjoy reading books a ton. I dedicate an hr a day every morning. Religously. When I'm in the car, it's usually educational podcast, or motivational speakers.

With lead generation, building rapport and cultivating relationships with brokers is key to get a good stream of deal flow coming in. You can always target off market deals/sellers to. That avenue is preferred especially when dealing in smaller quantity of units. Good luck

@Jordan Santiago your yr1 cash on cash returns for year one may not be the greatest. You do want to gauge your cash on cash returns over the avg life of the investment which should be somewhere between 7-12% over the holding period. 

@Ben Phan, congrats to you and your wife. If knowing what I now know, I would definitely house hack instead of buying a single family home. You should think about house hacking a 5 or 6 plex.

You essentially would live near rent free or free. Cut done on living on expenses to accelerate your path to wealth much quicker. Focusing on markets are good but for smaller multis more so pay attention the area where you're buying. You're not dealing with the economies of scale by house hacking. Make sure you're in an appreciating area. Good luck

@Perla Pedroza that's the right attitude to have. Try looking into networking at your local real estate clubs in your area. You can find them on meetup.com in or surrounding areas where you may reside. You will meet local real estate investors you can cultivate valuable relationships with as you're starting out. Good luck

@James Baker what you should take into account although 4 units are rented, what shape are those units in? Do they need repair - major or minor? This has to be taken into account. I'm assuming you checked rent rolls, so what are the expenses per door for the 4 units?

Is this deal so good, because in order to rehab the last 2 units I would need to install fire escapes and sprinkler systems? (You may also need plans drawn, so permits can be pulled for the work being performed. This must be taken into account.)

What’s are the rules and regulations from converting a 4 unit into a 6.(I'm a little confused. Originally you said in your beginning statement "This property is a 6 unit building" Is this property not a true 6 unit?)

What would you do? (Take all of these good points into consideration and many other individuals that will weigh in on this post. There are quite a few unknowns here to really determine how good of a smokin' deal it is. Good luck )

Hey there @Ben Leybovich! Congrats on the new acquisition. Sounds like you guys have all of the market fundamentals down to a "T". Sweet! Not sure if Mesa is a primary market or a secondary. I'm thinking secondary.

We're in the Florida markets. We're seeing quite a bit of what you're seeing and I'm seeing. Most of what could be happening in primary markets that are over saturated spills over into secondary markets because of affordability. I think it's a good thing. You guys will do well. Congrats again.

The question is what happens to new construction once the market heads the other way?

@Salome D.

Does anyone know of a reputable IRA accommodator to set up a checkbook IRA for me? (Our investors use Advanta IRA as a preferred. Inbox me. I can send you over my contact over there. You also have Equity Trust and Mountain West IRA. I can send you the contact over there as well)

Can a lawyer do this or does it have to be a Self directed IRA accommodator? (Yes you need SDIRA custodian)