All Forum Posts by: Ken Sean

Let's say there is a certain amount of expenses that have been deferred, and you do negotiate the price down. Obviously, these are still issues you may want to address. What would be the most common ways of taking care of this with OPM?

Thank you for elaborating even more. What is a reasonable rate for a savvy attorney?

Of course... How did I forget about that member? :wink:

I absolutely agree. There are going to be a lot of hiccups, but with the right talent, we should be able to navigate those waters okay. Plus I think its critical to have multiple exit strategies throughout the transaction, and after closing, (which is a whole new thread to have an in depth discussion about).

I noticed a few of you said to get in touch with investors in your target markets. How did you find those people? (other than this forum 8))

I'm new to the real estate investing game, and would like to find out how other people have built their teams. This is a tentative plan I'm building in my head, so feel free to critique it and offer your advice, but I want to create an LLC to invest in commercial properties. I want my first acquisition to be an apartment with over 20 units. I want to be able to accomplish this within a year. Most of my time right now is spent studying how to recognize opportunities and analyze deals. The next plan of action would be to talk to professionals who will make this deal a reality.

I think the key will be to build a quality team to navigate this first transaction, (and possibly future transactions.)

For my specific situation, I want to invest property out of state. San Jose is a different beast for investing, and I feel my time will be better focused in easier areas that will generate positive cash flow.

So it would be great to hear general stories of how you built your team, but the icing on the cake for me will be to hear about people who started with similar goals.

Also, I realize each person on the team is important, but who do you consider most critical in getting your deals done? In my head I'm thinking the attorney, but I could be wrong.

I appreciate the feedback, and I will apologize ahead of time for all the questions I'm probably going to fire away with later.

Thanks Rehab. I updated my profile and am including the blurb about myself below.

My name is Ken, and I was formerly involved in residential real estate sales, part REALTOR and part assistant to another REALTOR. I am now working for the sales organization of a hi-tech firm in the Silicon Valley.

My primary goals are to find a way to start investing in multi-family residential properties, and eventually gaining enough savvy and sophistication for commercial real estate deals.

Some things I've been considering include, forming an LLC, as I do have other people who want to invest along with me. However, this requires more research and maybe guidance.

I'm taking a young start at 25 and hopefully I can use this to venture away from my job because... sitting in a small cube all day, 5 days a week, month after month, is.. well most of you probably know already. Plus real estate is just more rewarding.

I've always had a passion for real estate and even more passion putting deals together and making them happen.

Just wanted to introduce myself to the rest of the forum. I'm looking to get started in real estate investment. For those who are around the area, please give some guidance on resources or clubs I should start looking into to start building not only a sound investment strategy, but also an opportunity to network, and meet great people.

Any feedback is welcome. Thanks again and pleased to meet you all.