All Forum Posts by: Omar Khan

@Rik Patel If it's an issue for you don't invest. Tons of great markets where you can make money - Orlando, Lakeland, Jacksonville. 

Ideally, you have the investors lined up before you start making a serious legal/operational commitment. 

That being said, most, if not all, of your marketing is going to come down to one thing: track record. You're off to teh races if you can show an auditable track record. If not, you will have to go hard on marketing and gimmicks. 

@Sean Weichel This is where your local market research comes into play. No calculator is going to solve your problems. It's a case of "garbage in, garbage out". 

You need to start talking with local realtors, investors and lenders to get a feel for your market. From there you can start attending REIA events (beware that there are lots of gurus trying to sell you the easy button option - stay away from these scammers) to further expand you network. That's honestly the only way to go.

Thank you Bill. 

I would have to nominate you for #10 (Mobile Home Parks) and #25 (Financial Analysis). 

@Anthony Wick What seems to be the problem? You didn't waste anytime actually showing them the property. Think of this as your good deed for the day - you gave someone company (if only for 15 seconds)... lol

@Mathieu Gagnon Bienvenue en Amerique!

As an ex-pat Canadian, I think I can offer you actionable advice based on my experience and those of my Canadian investors. 

You should start by reading this article I wrote: How Canadian Can Investors Participate in US Real Estate Syndications

As a multifamily syndicator with Canadian investors on both coasts (and a few provinces in between), your first step needs to be getting in touch with a cross-border CPA. After that you will need to structure your investment (in all likelihood, LLP to avoid to double taxation that comes with LLC).

Would highly suggest not buying single family homes no matter how low the prices might seem (relative to Canada). They will be a pain to manage especially after your property manager finds out you don't live in the country. 

Happy to chat and share more details if you like. 

@Brian K. I would heed the advice of @Daniel Hyman (your comment got an upvote from me). I get a ton of requests but no messages with the request which is kind of pointless if the whole purpose is networking. 

Write a short note. It is polite and useful for you and the person you are connecting with.

@John Abraham In FL, your post-purchase property taxes would be: 

Purchase Price * Appraised as a % of purchase price (bad description, essentially this is the % of the purchase price off which they will base the taxes) * Millage (tax) rate * (1 - Early Payment Discount) (if you're availing it) + Reassessed Ad-Valorem Tax Estimate

E.g.: purchase price = $1,000, appraisal % = 80%, millage rate = 1.80%, early payment discount = 4%, reassessed ad-valorem tax estimate = $0

then taxes will equal: $1,000 * 80% * 1.80% * (1-4%) = $13.824

The formula might sound daunting at first but you get the hang of it pretty quickly. Most of the #s are either available from the site mentioned by @Matthew Baltzell or you can get them from a local broker/tax assessor. 

@Ian F. I don't know Kevin but only going off the information provided in the link, I would pass. There is no value-add information and most, if not all, of this information is accessible on BP or through a quick Google search. 

Kevin (or any other guru) can't teach an investor accountability. That has to come f

@Ricky B. Both markets are solid and on fire. We are closing on a larger apartment complex in JAX. We looked at both JAX and Tampa but got better pricing in JAX. Nonetheless, Tampa is a solid market and would highly recommend looking there.