All Forum Posts by: Vessi Kapoulian

Stephen Polk at Solid Properties - https://solidpropertiestn.com

The self-directed retirement account is one of those sources that I uncovered as I started my financial freedom journey.

I am thrilled to have Rachel Nabers from Nabers who will unveil the secrets of self-directed retirement options and how one can utilize this powerful tool to invest in real estate.

Entry is complimentary.

Tap the link below to learn more and join the party!

@Richard Nassour: There are many tools out there - Michael Blank, MFA, Next Level, Synthesis, etc.. It is best to select one and stay with it, especially in the beginning when you are learning. I teach a course on multifamily underwriting too, and have helped many vet deals efficiently and quickly.

Feel free to DM me for more detailed feedback, @Remy Piazza. I am happy to share about my experience.

@Tenzin Samphel, Rod Khleif has a virtual bootcamp coming up. If I am not mistaken, it costs $97 and Rod gives you a ton of value over 2 days - the bootcamp is packed with a ton actionable steps you can take and believe it comes with his book, other free resources, and a 90-day action plan. This would be a good place to get started (this is how I got started and glad I took that step).

There are so many options @Andrew Zhang. 

I would first start by deciding how you want to get involved - actively or passively. Then determine your strategy - cash flow, appreciation, tax deferral. Then decide on an asset class. Once you have narrowed down options and focus, education is a key first step. And eventually taking action. Down the road one can certainly diversify across strategies and asset classes but from my own experience in the beginning focus is key.

Real estate is not a get rich quick scheme, and it will take some time to build that income stream. But it is possible.

Great story - full of golden nuggets and inspiration, @Jason Malabute! Thank you for sharing! Keep crushing it and keep inspiring others!

@Dave Foster would be a great source to help. He also wrote a book re 1031 Exchanges, which I personally found very helpful.

I second Leftfield Investors! Local and virtual CRE and MF meet ups as well as certain conferences are also a good way to meet with and get to know operators/sponsors.

This is not ideal but not unusual if you are dealing with a mom and pop operator. 

Re rent roll, obtain copies of the executed leases and validate collection via bank statements and tax returns. 

Re expenses, the tax return will have at least some info. Regardless, you will likely be adjusting the expense base to reflect the tax reassessment (which you can obtain from the local county), insurance (from your insurance broker quote), property management fee, and usual repair/maintenance expenses/admin/advertising/contract services/utilities. If you (vs tenant) is paying for utilities, you can request to see the last 12 months of utility bills. If they have maintenance contracts (landscape, pest, etc.), you can request a copy of those. The bank statements will also show these expenses, so you can validate. Validate the expenses by your PM too. 

If they decline to share, that is a red flag which would warrant walking away or at a minimum substantially reducing the price instead and basing the offer on your own numbers validated by third parties.