The New Guy from GA

[Michael G.]

Hi everyone! Wanted to be courteous and introduce myself to the community.  Just call me Mike or J.R

About Me:

Born and raised in Atlanta GA...don't talk about my Falcons! Pops owned real estate sales brokerage and moms owned a mortgage brokerage. I used to draw all the time. I figured why not design the houses my parents closed on. Ended up graduating from college of architecture at GA Tech. Go Jackets. 

I've worked with HUD doing asset management & contracting. I've built a national title and escrow network for Altisource/Ocwen (yikes lol) which was absorbed by another large national company. I've managed bulk acquisitions and securitizations of SFR portfolios involving well known banks and REITS. I'm now working from home doing...stuff lol.

Basically Ive had alot of exposure to Real Estate from so many different perspectives! But only recently have i shifted my attention to the investment realm. Really hoping to leverage my experience and resources to empower others and also learn from everyone here! 

Investment Experience:

• --My starter home lol. 
• --One single family home bought from a family who inherited from deceased parents and wanted nothing to do with it. Took out hard money loan to rehab it. Currently finishing lawn before listing. 80k buy / 100k rehab / recent comparables sold 390-415 with less than 2 weeks listing time. Issa hell of a win I think. Fingers crossed that it sells quick once listed. Only held for 4-5 months. No clue what taxes gunna look like. wondering if I should try 1031.

Immediate Things to Figure Out:

• --I really would like more insight on holding strategies...what entities/trust/corporate structures to use for various strategies, the potential implications on financing/refinancing, and taxation at sales.
• --Creating a partnership for me and two close friends - can combine resources/knowledge to jump on opportunities...like yesterday. How are accounts usually set up for capital, distribution of proceeds/profits...I feel I can free style but I do like to see what works before reinventing the wheel.

This seems long as heck but I guess I'm a little excited. I'm pushing myself to move forward with the investor/owner path. Look forward to hearing of my future struggles lol...and blessings! -JR