All Forum Posts by: Rick Snow

Hi Everyone, we are buying properties in specific markets across the nation. If you have a lead on any assets, please feel free to contact us. Here is a link to the specific markets. Referral fees paid for addresses. Buyers rep fees paid for contracts. Good luck out there. APARTMENT BUYERS
 

Lookup: Dave Lindahl, Joel Block, Brian Burke, Peter Harris and Joe Fairless. I am also an experienced Multifamily Investor from California and can mentor you through the missing pieces. Contact me directly for that. Good luck @Mark Layton. Rick  

I might be able to finance you, if you can prove to me that you are an acceptable risk. The best thing to do is fill out an application, get you prequalified and open a discussion on the deal.  Good luck @Alex Babayev. Rick  

clarityreturns.com/financing 

I work with Deana Curtis at Stewart Title on Sunrise. She understands investors, but you need to build a relationship with her. She's straightforward and what you ask her as to be legal and ethical. She's good! I've worked with her alot. Rick 

Hey @Matt Inouye. To quote the A-Team "I love it when a plan comes together". That deal was thin but you made it work. Expensive money to control the deal then refinancing is how a lot of deals are done.  The trick is to control the numbers (run them against best and worse case scenarios) and always be negotiating for a better position.  

Congratulations. I'm proud of you man. 

Glad I could help. If you need help reviewing any other deals reach out to me

Rick

Haha @Jack B. LOL@ Unicorn Proformas! You get those in off-markets deals too though, trust me! 

@James Evertson is on the right track with his response.  The opposite of networking is notworking!  

I have direct lines of communication with Brokers in markets that we are targeting. I've had leads sent to me, and if I pass the next day they are on Loopnet.  

The best way to get leads is to become the thought leader in your market.  Get creative. Get your name out there and people will find you.  Connect and network. Build partnerships and help others achieve their goals.  These are the elements to winning in a competitive market.   

Keep hustling Jack. You'll get there. 

Rick 

MLS.

You can find good deals if you know how to look. It's not always about flipping. You can lease option, seller finance, trade notes, BRRRR.

The MLS can be crazy-rewarding. If you're educated and know what to look for!

Fun question. Thanks for posting. 

Rick 

Hey @Angel Moreno Welcome to BP and good question. 

The question of partnerships comes up a lot when dealing with MF acquisitions.  Keep in mind, the law only looks at financial partnerships three ways: Lenders, Investors and Partners.  It's important to structure your deals in categories that the IRS understands.  Mixing and matching could lead you to an audit.  Always seek legal advice when structuring a deal! If you need an attorney, my guy is great! PM me.  

That being said. It depends on what your potential partner is looking for out of the deal. Are they looking to go on title, are they just looking for a preferred rate of return or are they looking for a piece of the equity? Sit down with them and discuss what they're looking for and put it into a JVA (Joint Venture Agreement) or operating agreement.  I've had the same partnerships so long that I don't even use JVAs any longer, but I have some good ones if you need one. PM me.  

Most partnerships are based on percentages (like preferred stock) if you've ever been involved in an IPO.  A set amount of shares are disbursed based on the equity you've built in the company.  It sounds like you might be pretty safe with a 50% split down the line, but I don't know enough about your deal to guarantee that.  

Begin with the end in mind. Be honest and open about your needs and make sure you communicate with your potential partners.  

One of my mentors once told me "The only ship designed to sink. Is a partnership"

Ships sink because of a lack of communication and trust. Build trust, communicate often and align your goals and you'll be fine.  PM me if you need any help with anything. 

Best wishes, 

Rick 

Hello BP Family, 

Our company is actively seeking off-market multifamily deals in California and Nevada. We are cash buyers with quick closes. If we like the deal we can move on it pretty quickly. Off market deals are preferred. If it's on the MLS or Loopnet we already know about it.

A little bit about our company: 

Clarity Acquisition Properties specializes in identifying, controlling and managing income producing assets that yield double-digit returns to our investors.  Our deals go through 3 stages before they are funded:  internal underwriting, independent underwriting, prequalification then funding.  

How to submit your opportunity? 

1. Gather the following information on the property: Last 3 years Profits and Loss statements, Trailing 12 operational statement, last 3 months Rent Roll and details on any major repairs that have been performed on the property in the last 24 months. All of this information can be obtained from the properties current property manager or CPA. 

2. Email the details to: [email protected] 

3. You will get a response back within 24 hours.  

Non-Disclosure / Non Circumvention Statement: 

We are an honest company and will not cut you out of the deal.  if you'd like us to sign a NDNC please send it along with your offering memorandum or investment package.  

Thank you and let's close some deals!

Rick 

916-900-6659