All Forum Posts by: Taylor L.

A PPM would be more in the realm of a securities attorney than a real estate attorney. It's difficult to find someone who will do this at an affordable price because the skills to review & interpret a PPM don't come cheap. Combine that with the length of a typical PPM & you're looking at a not insignificant number of billable hours.

If you can expand your search beyond the Atlanta area that should help a lot - you can always meet with them on Zoom. A passive investor told me that Robert Borr in Florida provides this service, but that was a couple years back and I haven't worked with him personally so I can't speak from experience.

Agreed with Chris, off-market is the place you need to be looking. Day 1 cash flow deals aren't hanging out on the MLS.

Can you be more specific? Do you need advice on taxes? Investments? A CPA may or may not be the type of person who can provide the type of advice you're looking for.

The two biggest things you can do early on are 1) defeat your limiting beliefs and 2) get out and network.

We all have limiting beliefs. I highlight that because you said you weren't in a position to get started or simply didn't know how. That describes a whoooooole lot of us at the beginning. It sounds like you've moved past those for now, but limiting beliefs can always pop up. 

Even though you're planning on investing in PA, go ahead and get out to network in FL. You never know who you'll meet or what you'll learn. 

Tampa MSA, Orlando MSA, Houston MSA, Phoenix, Atlanta. It boils down to jobs, the ability to do business, long term outlook, and the overall supply/demand of housing.

The seller may know that the property won't qualify for financing for one reason or another. You may be approved for a loan, but that doesn't mean the bank will loan you money for every property.

The flood & hurricane risk is not the same everywhere in the state of FL. Some areas are higher than others. It's important to note that insurance rates have gone up in Florida, so your insurance costs will be higher there compared with most other areas.

If I were in your shoes I would lean toward Texas, mainly because you will have to travel there from time to time, and the flight will be shorter. Over time, the flight times do add up to the point where you'll naturally be able to be more active & competitive in the closer market. I invest in both TX & FL, so I don't have a bias either way. 

I'd also recommend honing in more on individual markets. Texas is huge, and Florida isn't anything to be sneezed at. Both have markets differ considerably. Investing in Austin is a totally different ballgame vs Amarillo. Same with, say, Miami vs Tallahassee.

You cannot do business with your father's SDIRA, you are a disqualified person.

Long term focus vs short term focus. I'm a long term net buyer/accumulator of real estate, so I'm still plugging away looking for solid deals on great terms, and finding them. The market has slowed down and correspondingly good deals have as well, but we never control the market, we only control our own actions.

"Be greedy when others are fearful and fearful when others are greedy" - I'm not seeing a whole lot of greed out there right now. Not saying that's a reason to be greedy ourselves, just to observe general market sentiment.