“I am at peace knowing what is meant for me will not pass me by, and if it passes me by it is not for me.”

The promote: Candle, I know you want in on this 36-unit apartment fully occupied…

Candle: Meh, I’ll pass on this one.

My Life in Real Estate

Whenever someone asks me how to get into real estate investing, I also say, “Tell people you are a real estate investor and the opportunities will come because you will be top of mind.”

That’s what happened to me.

I received a DM from the promote (the person putting the deal together) that my name was mentioned in a room where he was seeking limited partners to buy an apartment complex.

I took the pitch call. The location, strategy, current cash flow, and predicted returns all sounded great.

I even told two other investors about the opportunity. When the formal presentation took place over Zoom, it was an immediate “No” for me.

Although the numbers, location, reports, and valuation, were good. The limited partners' role is silent. We bring the money to the table so that we can see a return on our investment over a certain period of time.

We have equity ownership but we do not get to decide on important decisions. Such as property management, operating expenses, rent rates, and other items. The promote, would be the general partner making all the calls.

He had no experience working with limited partners nor experience in making these types of decisions. This could be costly because a plan was not in place to offset risks that can happen when you own and manage a 36-unit complex and… that was a big risk that I wasn’t going to take.

I realized I could take my money and invest in other ventures when the deal made sense and cents. I may not get the same return but the risks would be way less.

The lesson:

As an investor, you will have many opportunities available to invest in real estate. Every opportunity is not a great one. When you see red flags or it doesn’t match your personal goals for the short-term or long-term it’s okay to say- “I’ll pass.”

✨love and light,

Candle

Have you thought about buying an apartment complex?

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