All Forum Posts by: Anthony Johnson

I am a seasoned SFR hold investor and I own two property mgmt companies. One for my portfolio, and then I am a RE Broker so my brokerage manages other folks homes. So, the next step is multi family and I have a long list of friends and investors that want to do deals with me. My plan is four investors per deal, plus me. I will sign for the commercial loan with recourse, and have no cash invested in the deal. We each take 20% and my PM company will manage the properties. We plan on holding 24-60 months and then selling. I will be doing many deals, about one per quarter and each deal will have different investors as we go forward. Some investors will be on every deal, etc. So where I am at right now after talking to my accountant who is a RE guru is to take the deed in a LLC mm for the investors at 99% ownership, and my LLC will be 1% owner of the deed. I will be able to get the financing thru my LLC this way, and I will be an equal owner and manager of mm LLC. The mm will list us all as 20% owners and then we will draft up a joint venture doc to further tighten it all up. So then we do deal #2 and the new entity will be a joint venture and my LLC will own the 1/5th share or 20% of this property. My CPA does not like the LLP set up for these deals, says it is not needed, he is very respected in our RE circles here in Tampa Fl. I would like to see what you all think. Thanks in advance. Also looking for more partners, must be experienced and "somewhat accredited".

Hi Josh, I am working a deal on a 4plex in St Pete right now where I am the syndicator.    St. Pete is great if you are in certain areas, really good in old Northeast for example, or near the  Kenwood area, beach area,  you have to be careful, but overall very good.   I am putting together four investors per deal,  and if you get on my team, you can get on four deals instead of just one.     Let's schedule a call.

Have you thought about financing the rehabs?   Talked to a commercial lender yesterday and this product is available.    Save the credit line for  something else, maybe another deal, and use your cash for the down payment.  

If you goal is to  acquire many, have a real company and self manage, then move to   Florida, you can turn that into 20 doors leveraged.   Florida is the #1 state to invest in RE as 1,000 people a day move here.   My rentals  have many applications in less than 3 days and knowing what I know about RE, and I know much, I cannot move anywhere else.   If you just want to make some side cash then find a small town about 2-3 hours away and hire a property mgr.   That way you can still drive out on a Sunday to check on big rehabs and stuff.    You could find a syndicator like Grant Cardone and go on a multi family deal and get great returns without disrupting your life.  Keep us posted. 

I own two real estate companies and two prop mgmt companies, one an LLC and one an S-corp. I am writing a book called RevDebt that shows how to buy and hold faster and easier than BRRR formula. My CPA is an international success and on the board of directors for SREIA and a seasoned investor. I also own many many doors in my LLC hybrid. The best way to hold deeds is in an LLC with holdco and opco or a multi member mm owning several sm single members llc. I have owned in land trust and there is no value there just extra work, a lot of extra expenses and I am not a billionaire trying to hide assets and everything I own is on my return as I want to pay taxes so I can get credit lines. By the time you get to 20 doors, some will be in your personal name, and then in various LLC's. You mm llc will be the brand and the prop mgr, banker etc. You will need C&L liability insurance, XPL liability, an umbrella for the deeds in your personal name, 500k on your auto, and hazard ins. on all. My attorney told me I am more likely to lose assets from something I do in my car versus a liability from a rental home. Pm me as I have a seed package where I teach you everything you need to know to own and grow a rental home company.

I am on Zillow RMgr now and I do not see the CL link either, gonna go in manually and do it then at CL

Unsupervised is the only way to go for the vacant  homes.   We add it to our LB agreements and we have systems like a soft social media search, ID is sent over, a 10 question form,  and then they get the LB code, we are switching to  digital codes that only work once from Shomojo.   Once at the property, there is a placard on the counter with instructions to apply online, and it is fully automated.   Lazy? no, fully  systematized PM divisions are already here doing this and if you do not do it you will not compete, this is now the norm.   I have insurance, and like the guy above said, If I had to write a check once every few years that is way better than driving to my last rental for all 23 showings 20 minutes each way from my office, that is about 27 hours if you add 30 minutes for the showing and  time blocking from the day...no way!   This is business, and a simple decision.  Anything else is rhetoric, ego, or just opinion.     here is the caveat, my owners know I do this, and they know we do not ever miss a showing, never, if they call from the front yard and I am 3 hours away, I can get them in less than 10 minutes.   It is better for the owners, better for me, and the tenants.   No one can  squat, that is called Trespassing, and I would have them removed the same day.   If I had a luxury home,  then I would show of course, these are  $800-$2000 rentals for us.  I do this on homes that I own also, so I put my money where my mouth is to speak.   The owners do not hire me to show rentals, they hire me to get top rents, get it fast, keep it, and protect the equity of the home.    In the field of RE, the less you work the more you will make.   -Ron LeGrand.   Flow  like water my friend-Bruce Lee.  

21 Trillion in debt is bad?    Picture this, household income avg family say $ 120,000, that florida family has a 350k mortgage, 50k in student loans, they are mid 30's, car debt 25k  on the   mini van, another  5k on Visas, so  lets say around 450k in debt.    So debt is 300% of gross earnings and they are doing fine.     USA is a 6-7 Trillion+ dollar economy.     So the Debt load is  3-3.5 times gross earnings, so normal for any business.    i personally have 7 digit debt on 36k income,  and I am doing better than all of my friends, some  HOLD peeps will understand.      ***I would prefer our gov to be debt free but hey, we are  getting boatloads of sh*t from China and we give them worthless paper that adds to the debt,then we get boatloads of oil from middle east and we give them paper ...so we get all the worlds resources and we are only at 3x earnings on debt, it is an amazing system we would all do it if we could buy houses this way.     USA#1!!!   

Personal Line PLOC, and BLOC Business Line, it was pretty easy, just ask them if their underwriting guidelines are still this way.  I always want to know the guidelines so I can get it.  The employees in the lobby are the challenge, getting them to find out the  underwriter guidelines.    Good luck

Wells Fargo 100%.   They gave me a BELOC for 25% of deposits, very high limits, business Visa, PELOC   for me, and  credit lines with the BLOC"s and  $150 annual and you get a business mgr in the lobby you can email for anything.   I get .99% checks often enough buy rentals and fund the down payments easily.  Let us know what you do.