All Forum Posts by: Saul L.

Agree with Jeff above. Sounds very fishy. Today there are so many ways to move legit money , wire, paypal, bitcoin, transferwise. 

If this isnt a scam and your client is actually having trouble sounds to me the money he is trying to move isnt legit. Find a different client.

David, I have invested with POL and RS with varied success. Have moved on to better options since (IMO) Crowdstreet, Realcrowd, Fund that Flip and others.

Suggest you search the forums, there are a fortune of threads on this topic. Take a look as well at Ian Ippolito's site https://www.therealestatecrowdfundingreview.com

 Can you PM me with more details?

@Sam Bastin- as a fellow foreign investor- and one that went into the Detroit market on a number of properties back in  2015-16  - I have only one word of advice- RUN and dont look back. If @Robert Plumpe reccomends staying away- and he is a local - then listen to what he says. 

Dont get me wrong I have met many succesful Detroit investors- but they are local pros - in the trenches slogging it out day in and day out and they know the game like the back of thier hand - not thousands of miles away with 0 knowledge and experience.

After trying for a long time very hard to make it work - I came to the conclusion these markets are not worth the headcahe and heartache for long distance investors. Dont get pulled in by smooth talking Turn Key operators and thier slick excell sheets showing double digit returns. The second they have sold you the house your intrests are no longer aligned and they have walked off with any profit that was in the deal. 

There are far better opportunities for your hard earned capital. 

@dave mason If you qualify its really not difficult at all to get accredited. All that is required is a simple letter from your CPA, advisor or attorney confirming the criteria that qualify you. If you dont qualify there are other options out there (admittedly far fewer but never the less). Suggest you start by taking a look here:

https://www.therealestatecrowdfundingreview.com/single-post/2017/10/27/Which-real-estate-crowdfunding-fund-should-I-pick-For-non-accredited-everyday-investors

@Dave Mason - I have owned SFR in the past but found it to unwieldy and far less lucrative than expected managing long distance. I only invest in syndicated investments now, amongst them numerous MF investments. If you are an accredited investor, I would highly reccomend this option as a foreign investor in the US. It will also allow you to diversify the same capital across geographies, asset classes and types, instead of sinking all into one or two buildings.

Happy to discuss further if of interest.

@Dave Mason - Not quite clear from your post - What kind of deals are you looking for ? Single family, Multi, Syndications or something else ? 

@Oz Radiano US banks are notoriously difficult on this issue due to regulations requiring that you appear in person to open the account. I also tried a few of the online banks mentioned above as well - none worked.

It can be done- but there are a few hoops to jump through and costs a bit.

I use a US-Israeli accountant (offices in both countries) who can facilitate this- PM me if relevant and I am happy to give you his contact details.

@Graham Dersley - This is really not a topic to be covered in a forum post. Analyzing RE syndication deals is a complex task- but can be honed, practiced and improved with experience as you see more and more deals. When I started out a few years ago in the space  I was pretty lost- I still dont claim to be an  expert- but now 90% of the deals dont get past my initial sniff test. The other 10% may get a deeper look, with ones that I eventually go for generally taking me 10s of hours of DD  before pulling the trigger.

There are many topics to get an understanding of- Investment structure, product type (office, retail, multi family etc.), strategies, capital structures, evaluations, fees etc. to mention but a few. IMO the first and foremost check is evaluating the Sponsor- In these kind of investments you are betting on the sponsor more so than on the deal.

I highly recommend the book "Investing in Real Estate Private Equity" by  Paul Kaseburg under the pseudonym Sean Cook. It covers all the basics in clear concise explanations.

@Jay Richards - Preferred return and Target annual cash are not the same terms. Every opportunity is slightly different but generally the preferred is what comes out to investors prior to the sponsor sharing in any of the upside as per the terms of the offering, - whereas target annual cash is what the predicted cash flow to investors  will be as per the pro forma calculations. (neither are guaranteed of course)

In order to invest on RC or CS you need to be accredited ( ie: have a net worth of at least $1,000,000, excluding the value of your primary residence, or have income of at least $200,000 each year for the last two years (or $300,000 combined income if married). 

If you are accredited and once you register on those sites - you will be able to preview the details of each offering including the terms regarding profit sharing and predicted cash flows.

Kudos for having done so well in 2 years and for thinking ahead already (a lot of people your age don't). 

I would suggest you keep doing what you are doing as intensively as possible to build up your assets (looks like you are on to a good thing), while not rushing into anything regarding placing your hard earned savings. Take your time to learn the options, take advice form others who have successful investments,  don't put all your eggs in one basket and don't invest what you cant afford to lose. Remember as well that you have just posted on a public forum that you have a nice sum available- I would expect a lot of soliciting coming your way- be very wary- there are all kinds out there.