Hello I am Mr. Toby J. Henderson,
We do most of our investing in Orlando yet 1 in California as well.
#1 I started with zero properties and a horrific credit rating 10 years ago with my wife a Realtor.
#2 I started with zero rich family members or friends that would help
#3 I Began not long after the 2007 banking crises.
#4 Now we are very close to being totally financially free beginning this Fiscal 2017 it seems if we live through election year 2016 (not joking very scary).
Love your story about 16 properties in a short amount of time great to hear it. I also am restructuring my plan for fiscal year 2016 as we are headed into more commercial property investing I found 2 typo errors in the book which made me realize that you are Human like us. Told my wife see "even I could write a book on investing" and perhaps I will very soon. Regardless if the book was a refresher I did glean quite a few nice gems that I can take to the bank and I sincerely appreciate that. I would recommend "Build a Rental Property Empire" to beginners and Intermediates as the game is always changing and we need refreshers to get pumped up sometimes.
The strengths we (my wife and I) do have are:
Locating Deals Below market Writing Offers
And Reaching a target 30% annual ROI Through Sweat Equity
Marketing - Technology or brick and mortar
Inability to pull enough cash at the moment to structure large residential or commercial deals.
Inability to obtain conventional financing at the moment for any significant amount.
Very Slow Growth
One of our goals is to syndicate with people that can pull the larger cash at the moment and make larger gains, by purchasing larger deals for the long term. This person would benefit by not having construction nightmares and the foot work needed to execute deals, as well as the management aspect. Hence a win/win solution.
All of our real estate investing as of yet is long term because its conservative and desirable for us. We are not apposed to flips when the numbers will result in LARGE cash flow injection only, At least 20k in a 30 day period. So I am reaching out to syndicate with others, together we win and as Mr Trump says we win "Big-ly".
Interesting Deals Listed from most to least interesting:
*** Strip malls - New Technique I learned to reduce risk and insure ROI and CASH on CASH limitations are met.
*** Urban Parking Lots - Considerations... $100 to 200 USD per slot, cost of land acquisition, ease of construction combined with full automation. Parking for box trucks, RVs, perhaps 18 wheelers, boats. Within the urban sprawl.
*** Self Storage - Yet this one seems a bit risky although a large upside with small land requirement and building cost of construction.
*** 5 to 10 unit properties - with a live in landlord and grounds keeper.
If we syndicate and put our minds together we can help each other and each others contacts and grow larger together this is why I am reaching out!!!
***Current multi unit property deal, a complete rehab, 1947 yet in a decent neighborhood perhaps ARV 80-100k purchase around 45-60K yet the upside is 25-30% annual ROI. Comps are in the 200-250k range. There are many deals like this we just need cash in hand ready to move on the deal. I hesitate because we will have to pull 40-50k for repairs as well as the initial money for purchase which seems a stretch I'm open for flip or long term. ***
Have a Great Day and Nice to meet you
Mr. Toby J Henderson