All Forum Posts by: Nick West
Nick West has started 8 posts and replied 22 times.
Post: My multi-million dollar first deal at 20 years old
- Simi Valley, CA
- Posts 22
- Votes 16
Originally posted by @James Bitakis:
What is meant by "syndicate commercial deals"? Sorry but I'm just learning.
If you have a $5 million apartment building and need a $1 million down. You get investors for the $1 million and the putting of investors and deals together is syndication. You also manage the property.
Originally posted by @Roy Oliphant:
Why is helping someone get the due diligence completed 'a problem'?
I meant to say are they someone to help solve that problem
Originally posted by @Hobart King:
I like this one - pretty detailed analysis of each state:
i know the tax lein lady has agents that will do the due diligence and help you with buying deads. Are you part of that problem?
I would like to know if anyone knows of any tax lein sites that list the characteristics about the different states. I am looking for states where I can get the 15%+ interest rate. I would like to start investing some of my own money in these for high yield, low risk investments
Thanks
Post: Montgomery Investing
- Simi Valley, CA
- Posts 22
- Votes 16
Anybody in Montgomery Alabama? I am would like to talk to local investors regarding possible opportunities and also using their local knowledge of the neighborhoods.
thanks
Post: Different List Sources
- Simi Valley, CA
- Posts 22
- Votes 16
Originally posted by @Christopher Telles:
Forget about lists. Go to http://prospectnow.com and sign up for their monthly service. It's ridiculously affordable and in most areas they'll have all the ownership information you can ever want with the ability to print mailing labels via .xls files.
Have you closed deals using this system? I would like to know how much it costs per month and what your general experience with the program has been.
Post: Crowdfunding Syndication Sources
- Simi Valley, CA
- Posts 22
- Votes 16
The hardest parts of real estate is finding the deal and finding the capital. I would like to know if anyone has used crowdfunding sites to raise equity for $1M+ deals. I would like to find a good crowdfunding site to really help with the equity raising side of the business. A few questions I have is.
1. What are the fees associated with the equity raising platform?
2. What was the speed that the equity was raised and how much?
3. What are the crowdfundings sites requirements of the sponsor? What experience must the sponsor have?
Post: Different List Sources
- Simi Valley, CA
- Posts 22
- Votes 16
I need help finding the best list available to send some mailers out to find commercial deals. I havent been able to find any list that has the following criteria.
1. Owner Address
2. Property Type (multifamily, office, indsutrial, etc)
3. Square Footage / # of units
4. Property Address.
Thanks
Post: My multi-million dollar first deal at 20 years old
- Simi Valley, CA
- Posts 22
- Votes 16
Originally posted by @Mike H.:
Those would be some of my questions as well.
1) What kind of share did you get out of the project?
2) What was your actual effort in putting the deal together? It sounds like you found the deal on loopnet. But did you do all the legwork up front to qualify the seller and see if they were motivated and/or willing to deal?
It sounds like the mentor really was the lead on everything (putting the money together, etc).
Just curious as to whether this was really your deal or just an incredible education and maybe a bit of a kicker. I'm guessing you had to get some part of this deal or else the post wouldn't read "My....... deal". :-)
But talk about an investor's dream. 20 years old. Commercial deal under your belt. And hopefully, you have some kind of position in the deal. Even if its only a little bit, thats still a great start at your age.
I am part of the deal. I did get a portion of the equity position which will provide nice dividends in the future. This deal is kinda just like dipping my foot in the water. I did the insurance, taxes, looked at the leases, underwrote the property. I did a great deal of learning on this property.
My mentor did take the lead on this property with the financing and equity raising. On the next deal I plan on taking a much more active role in the money raising, due diligence, and financing of the property. I would like to learn much more on acquisitions and management of property's and I will have the opportunity in the future
Post: My multi-million dollar first deal at 20 years old
- Simi Valley, CA
- Posts 22
- Votes 16
Originally posted by @Josh Justiniano:
Congrats! How did you structure the deal? Are you taking equity, or an acquisition fee, or both?
I am getting a portion of both