All Forum Posts by: Taylor L.

@Adrian Stamer yes, off market all day. Agreed, the on market deals are quite bad. That applies to the whole Richmond MSA, not just downtown.

Congratulations! How did you connect with and attract investors?

Hi Krista,

You're earning $900 a month, total of $10,800 per year on $300k invested. That's a 3.6% annual return. I would never figure speculated appreciation into the calculation because with residential assets it's just that - speculation. Commercial folks get to count on higher property values fairly reliably, however.

With $300k at a 65% LTV you'll be able to pull down a $850k building. That'll get you a nice small multi here in RVA. Team up with a couple more investors and you're happily in the $1-2MM property range.

Me? I'd go bigger on a 10-30 unit multi in RVA. Or more units if you can pull in the capital. But, I'm looking at buying multis in Chester and the Fan, so I might be a bit biased.

I left out numerous costs in this back of the envelope calculation, but I think it gets the point across.

@Ethan Lee congratulations and best of luck with your continued success. Have you considered going after far larger deals and bringing in outside investors?

I invested in a syndicated apartment deal in a major southeast US metro. I can't give specific details (sorry!) but the investment made sense to me for the following reasons:

- the sponsors have a substantial track record.

- rent comps checked out vs the planned rent raise & reposition

- comparable sales made the valuation of this deal attractive

- the preferred return structure was in line with my expectations

I have other reasons which are more specific to the deal which I'd rather not disclose.

What's your exit strategy after the teardown?

@Nathan Carter have you looked at commercial scale properties as well? Your feelings on valuations at the moment?

http://tim.blog/2010/06/28/mba/

@Justin 

@Justin Sumulong Why not build a real-world MBA, a la Tim Ferriss? As others have said here - unless it's an Ivy League, people don't care. You can build the skills on the cheap and build a broader network in your spare time, both locally and internationally. 

It's your call. From observing my friends who did, I'm glad I didn't do it. But only time will tell.

@Benjamin Lapidus I'd certainly like to meet you.  I understand you're invested in Richmond; I live in Richmond and am building my syndication business here in Joe's mentoring club. Your take on the RVA market would be invaluable to me. 

I would jump on the opportunity to help you keep an eye on your current properties here and assist your evaluation of any new acquisitions you're considering.

I'd like to walk away with more tools/strategies for building an investment team, raising capital from non-friends & family, and automation. Automation being a general business interest of mine, inspired by Tim Ferriss.

@Kyle Handy sounds like you need to bring in an experienced syndicator to look over your 

@David Thompson have you seen an arrangement like that? What would be a typical arrangement to bring in an experienced syndicator as a kind of co-sponsor?