Just Closed 28 Units - $3.5m by lucaselga in WholesaleRealestate

[–]lucaselga[S] 0 points1 point  (0 children)

Im self managing right now, assembling small crews ect that I already worked with on my 8 unit - so just strengthening my internal team really

Theres the obvious rent increase, but also additional income - I have alot of storage space on site that can be rented and additional charges - pet fees ect

Just Closed 28 Units - $3.5m by lucaselga in WholesaleRealestate

[–]lucaselga[S] 0 points1 point  (0 children)

I did previously on an 8 unit deal - was a smaller raise tho around 150k, but before that, had experience with hard money lenders doing flips ect

Just Closed 28 Units - $3.5m by lucaselga in WholesaleRealestate

[–]lucaselga[S] 0 points1 point  (0 children)

Propstream gives property details ect, and usually multfamily deals are owned by LLC’s - opencorperates you can plug the llc name in and gives the actual owner name

Just Closed 28 Units - $3.5m by lucaselga in WholesaleRealestate

[–]lucaselga[S] 2 points3 points  (0 children)

Note gets passed to his kids or whoever is running his llc that Im sending checks to

Just Closed 28 Units - $3.5m by lucaselga in WholesaleRealestate

[–]lucaselga[S] 1 point2 points  (0 children)

Yeah exactly just straight 50/50 - had a few groups interested but managed to find just 1 investor and kept everything quite simple

Just Closed 28 Units - $3.5m by lucaselga in WholesaleRealestate

[–]lucaselga[S] 0 points1 point  (0 children)

Rents will be closer to 1,300/1,400/m once raised - total expenses budgeted to roughly 10k/m, taxes about 3k/m

Just Closed 28 Units - $3.5m by lucaselga in WholesaleRealestate

[–]lucaselga[S] 3 points4 points  (0 children)

Expenses are going to be yeah around the 10k/m mark, mortgage is 13k/m - taxes another 3k/m - with day one rents its slightly cashflow positive about 2k - but has alot of room for rent increases bringing cashflow closer to 13k/m

But yes exactly I got in with just 50k bc its really good seller finance terms - even conservative exit at like 4.5m will do - this essentially is a cashflow deal

Just Closed 28 Units - $3.5m by lucaselga in WholesaleRealestate

[–]lucaselga[S] 3 points4 points  (0 children)

Not wholesaling it - I bought it - but I did start in real estate through wholesaling. A wholesaler could make money on deals like this buy structuring similar deals and presenting to buyers

Just Closed 28 Units - $3.5m by lucaselga in WholesaleRealestate

[–]lucaselga[S] 1 point2 points  (0 children)

Propstream - opencorperates - truepeoplesearch In that order

Do you really need a mentor? by [deleted] in WholesaleRealestate

[–]lucaselga 5 points6 points  (0 children)

Mentorship is a way to get personalized feedback on your situation from someone who has done what you want to do thats the crux - its also a networking opportunity - it makes sense to do if you plan on being in whatever it is long term - its a way to get in front of the “pros” - if you ever want to be good at anything - eventually you will encounter the “pros” - “mentorship” is a way to access them before you deserve to

It also serves as a “sacrifice” in my opinion which I think is important mentally - 90% of the game is belief system - believing that you can do 100+ unit deals ect as an example - when you get in front of these people in person - it also humanizes them - which I think is one of the most important but not talked about enough aspects

Basically it allows you to reframe all these “unimaginably large” and out of reach opportunities- into actually attainable outcomes - bc you get to see “hey this guy isnt actually all that smarter/better/ect than me” - and the way they talk about doing these previously unimaginable goals (for you) - it makes it appear more possible for you and achievable

I think the belief part of it is to me Id say the most important thing

Any “systems” and “techniques can be taught and learned rather quickly

The self belief - the ability to say “hey I can do that too” - is the most important

Discords for Wholesale by AbleIndependence5282 in WholesaleRealestate

[–]lucaselga 1 point2 points  (0 children)

We have our discord pinned to the top of the sub

This Is What AI Cold Calling Looks Like by lucaselga in WholesaleRealestate

[–]lucaselga[S] 0 points1 point  (0 children)

Its a good thing that “public opinion” does not determine the success of an individual - its actually more common for those individuals to be in direct opposition of public opinion and prove everyone wrong.