Reed Goossens welcomes us to his website by saying g’day like how I expect an Aussie bloke would. Of course, he follows it up by saying who he is— a bestselling author, a multifamily investor, and an entrepreneur— in that order. Speaking of being a multifamily investor, he mentions how you can invest alongside him, and earn double digit returns… Is there any reason you should? I’ll give you my thoughts in my review about the dude below.
Too early to ask? Nah, I’m just asking the important questions. It’s because the return in investments like this is usually just under ten percent, yet here he is claiming double digits. Specifically, he mentions one recent deal where he’s able to give back 18% annualized returns to his investors.
“I was really proud that I was able to do that,” Reed adds. He really should be proud if that’s true. It’s a good figure, too good to be true even. Just keeping it real, alright. But yeah, can’t say he’s capping until I know more about him. We fair out here, especially to this dude who quotes “be bold, be brave, and go give life a crack.”
Besides being an Aussie, Reed didn’t really reside in the US until 2012. He only got in because of his love of two things— his wife (then girlfriend) and NYC. Must be the empire state of mind, amirite? But yeah, that’s how he set foot on US soil, and the reason he made the switch from being a 9-5 civil engineer to real estate investor.
Within the first year of living in the US, he’s able to purchase a $38k duplex. He adds, “barriers to entry are a lot lower compared to my homeland of Australia.” Yup, I guess he can say that around the time he bought his first property. But I’m certain that he can’t say the same today as duplex prices usually start at six figures now.
You’ll know what I said about prices is true when what he did since purchasing his first property is build two multifamily syndication firms. Ain’t no way something has a “low barrier to entry” when you need to pool your money and someone else’s money together at the very start to expand the biz.
To be fair, he would eventually need other investors’ money regardless. Why, both his firms have over five hundred million dollars worth of property acquisition combined (or so he says). He can’t be funding all that alone, he ain’t Elon who had a freakin’ emerald mine back at home.
Anyhow, that’s his business opportunity right there. He’ll locate value-add assets (those with room for improvement still) in markets with strong population, job, and GDP growth. Then, he’ll identify sub markets that are within the true path of progress (as indicated by HHI, crime statistics, etc.).
Invest with Reed and his chosen value-add assets by heading over to his website ReedGoossens dot com to schedule a call. Cost of investment starts at $50k. Targeted IRR is around 12%-14%, and you’ll receive your distributions every quarter starting with the first quarter after closing.
In fairness, I see no one’s throwing mud at him (figuratively BTW, don’t mind the mud that’s literally all over him above) that’ll serve as an indication that his investment opportunity is as sh*tty as Fundrise. Not much talk online to say it’s good either, but, at least, I don’t think it’s just a scam.
Unlike the scummy gurus who would get money from whoever, Reed here only limits his investment opportunities to accredited investors. They are those with over $1m in net worth and/or has a personal income exceeding $200k ($300k for joint accounts) in each of the two most recent years.
Still, I’m not recommending this investment opportunity. In other words, I’ll give you reasons why you shouldn’t invest. Besides the high capital requirement, you might also need your money back early. Lots of things could lead to that such as financial difficulties (usually due to unforeseen circumstances like sickness and layoffs), changes in the market, or problems with the property.
You might need to exit the investment for whatever reason, but the problem is you really can’t. Not until many, many years have passed. In Reed’s investment opportunity, for instance, they’ll typically hold ya money for three to five years. I ain’t a fan of that in syndication. Not to mention the risk of it going sideways while having no control on it yourself. I’ll pass.