All Forum Posts by: Ray Johnson

@Daniel Pitta There are good deals here in the DC area, it just depends on what you're trying to buy and your hold or exit strategy. First off I'll say getting a good deal is going to be hard work and you'll need to know what you're doing, not guessing but know what you're looking at and evaluating and already have a clear concise strategy ready to go. I purchased an REO from Bank of America several months back near the Rhode Island metro station (Red Line) I knew it was priced slightly below value based on my research, Comps, and ARV, so I offered list price, I did this knowing most people will low-ball an REO price no matter what the price is because that's what the Guru's, Podcast, and online forums said you're supposed to do with REO's because they said so, This property appraised $25K above what I paid, I spent another $16K having a contractor do some minor rehab on the property (all cosmetic). Two of the same model/plan have sold for $124,000 above what I paid, and a third property is on the market for $125,000 above what I paid. There's opportunity in DC!

@Tab Teehee congratulations on your first Multifamily property! How many buildings/Units? What part of the US did you find your deal?

@Josh Sullivan What type of Syndication are you forming? This will determine your accredited investor base, the avenue in which you will contact them and them contacting you. Are you syndicating portfolios of 250 units and up? 100 units and up? Class B- value add to Class B+? What's your targeted property sector? What I'm getting at is your question needs more information in order for us to give you a better response.

@Rowan Drake I worked in the private equity sector, this is referred to as Institutional Grade Real Estate investing. These transactions are typically done by private equity firms, Insurance companies, large Pension funds, large REITS, and sometimes large Syndicators depending on the exit strategy.

@Tony Marcelle Always work smarter not harder, have your agent provide the Comps on the recent actual sales for you, eliminate the guesswork.

@Dan D. you said the opinion is floating around the internet, You started this post but didn't give your opinion, What do you think?

@Elliott Elkhoury thank you for the post, While this is a great story, Can you and @Steven Kwan share the Net numbers? I think the Net numbers will tell a better and more inspirational story, $6,000 gross could be delivering $3,000 net or $300 net

@Andrew Kuiken There are deals on the MLS you just need to know which ones they are, the REO's, Short Sales, and HudHomestore deals may be an option even though they show up in the MLS.

@Stuart E Nisbett Looks like you forgot to attach the deal to your post

@Scott Moody if you did a cash-out refi, would you still Cash flow on the property as a rental? If so, you can use the cash for a new primary residence and rent out the current property. If it won't cashflow with the higher debt structure on a refi, then you're looking at renting as is, or selling and using the profit for a new property. What investment path are you looking to go down, Buy-and-Hold only? Obtain a few properties for some additional cashflow at retirement? Become a full-time RE investor and quit your day job? What's the end-game here?