All Forum Posts by: Yussef Gilkey

Pretty much! I have been around this industry long enough to see the writing on the wall. I have personally had to stop a few newbie investors from going through with their purchases after looking over NWs  ARVs, comps & contingencies.  Companies like this push the limits until some landmark class action suit is filed and one bad actor (i.e. NW) makes the front page news. Then federal regulators step in and we all pay the price by getting shut out. NW filed a suit against a group of guys in California who worked for them and allegedly ran off with their buyer's list and started their own wholesaling company. NW lost the case. They actually tracked the chain of custody on the deeds of properties they had in their database to see who bought them and if they matched with any buyers in their data base they assumed these guys had back doored them. They have some interesting stuff going on at that company.

This is the sandbox where I play and I love it not only for what it has been but what I see it is becoming. I have been dabbling in the REI space here since I bought my first property back in 2003.

FRIENDS, MY REI BUSINESS IS EVOLVING! Long post alert but for those that care, here it is. I am back in class learning how to raise capital, and acquire and structure, multi-family (apt) deals. I have loved real estate since I was old enough to understand what it was. My new 4 awesome mentors are teaching me how to properly structure deals, raise capital, and put the right people in the right seats. Including my own booty. Fortunately, in the past, I got lucky and did 2 (30 unit) apartment complex deals with my wife's help and a very very good attorney that's retired now. So I had somewhat of an understanding of the mechanics of how buying apartments works. This post is actually part of an assignment that forces us out of our comfort zones and opens us up to the engagement. I have been a lone horseman for so long that this (partnering stuff) is really different for me, but necessary for growth and longevity. I have a skill and proven track record of finding amazing, off-market, residential properties that have provided me and other experienced investors with some pretty good returns year over year. The only difference with this is that the buildings will be a little bigger. Ok, A LOT bigger, and the checks we write will have a few more commas at the closing table. Same concept with a few extra people and steps involved, but I have met some amazingly smart people on this journey that are ready for me to take my skills to the next leg of this journey. Thanks to everyone's support that has believed in me/us in the past, has purchased a deal or has sold me a house. We are not leaving behind what we do and love, just adding on some new skills, amazing talent, and incredible partners that have been waiting for our next move. SEE YOU AT THE TOP!.

 This is/was my line of thinking as well. I am about to buy 3 free and clear and want to put roofs on 2. The 3rd is already rented and generating income.

Yeah I have been watching the deals that come through and I am wondering how long it will be before IV gets stigmatized as being the place with the overpriced, bad deals and investors start ignoring the emails? It doesn’t take long ask New Western!.   

REI pro is ready to go straight out of the box. I have watched what people go through getting Podio setup to their personal preference and never understood the hype with API and inbound/outbound capability. REI Pro is already configured to do what is most important to investors. Deal flow, research, organize and manage. All those other bells and whistles that people would like for machines to manage can get convoluted when you certain processes need human discretion. Thats just my .02.

I love it and the more I use it the more I learn.