All Forum Posts by: Logan M.

 I will message you

For you investors that have ordinary income to write off let me tell you the greatest secret to minimizing tax liability, Cost Segregation.

When coupled with zero down seller financed purchases the numbers get crazy.

These numbers below are one of two parks I bought zero down with seller financing last year.

This one park one year is a $140,834 write-off equal to $40,842 in tax savings and the second park is $14,000.

I am projected to save almost $60,000 on two community purchases that I don't have any of my money invested into, they were true 0% down parks.

Don't kid yourself, real estate is the best investment opportunity that exists.

Quote from @Robert Ellis:

Quote from @Logan M.:

In November 2021, I purchased a single-story commercial building in a downtown area outside Provo Utah.

Attached is the first picture of the front of the building. This building will have 8 apartment units, 5 short-term rental units, and 2 office spaces. 

Three keys allowed me to own 50% of this building with $130,000 invested. (To give you some numbers we are all in at 2.1 million and it appraised just shy of $3.2 Million)

This was a seller-financed transaction, the terms allowed us to use the ground as collateral and I brought partners in after I got all of the city approvals, and they took over the future expenses for the seller financing note and the other costs like engineering. 

We leveraged the land and got a bank loan for $1.6 Million.

THESE DEALS ARE OUT THERE!

 did you face any hurdles for land appraisal without seasoning? interview multiple banks? I think a lot of people don't focus on the financing side or what it takes to get a deal done but that is everything 

 It is also one of the more difficult parts to understand.

We didn't run into seasoning issues but it was because I had owned it for a year by the time I got the construction loan. In that time I worked on approvals and interviewed several banks. We had full approval from three different banks before we made a decision.

After a recent fire that destroyed one of my park-owned homes, I am determined to sell them all.

I bought this community for $694,000 with 8 park-owned homes and two single-family homes. My plan is going to be to sell the homes ranging from $40k-$60k, which will allow me to pull out about $400,000. That means I got the park minus the home sales for $294,000 with two single-family homes. Each single-family home is worth about $125,000 since they are not on separate parcels. (I may try to subdivide them from the park)

All of the numbers come down to me getting the park portion at basically no cost. Getting creative with the hard assets opens up endless opportunities and can bring your cash-on-cash return to triple-digit returns.

The attached picture is of a 1971 mobile home. In our market, I believe I could sell it for $45,000.

 Thanks, it is turning out great!

 I would focus on certain markets and build out your portfolio there. It is difficult to beat Utah but I see too many investors enticed by other markets like it is going to solve a problem or diversify them which I only think is partially true.

In November 2021, I purchased a single-story commercial building in a downtown area outside Provo Utah.

Attached is the first picture of the front of the building. This building will have 8 apartment units, 5 short-term rental units, and 2 office spaces. 

Three keys allowed me to own 50% of this building with $130,000 invested. (To give you some numbers we are all in at 2.1 million and it appraised just shy of $3.2 Million)

This was a seller-financed transaction, the terms allowed us to use the ground as collateral and I brought partners in after I got all of the city approvals, and they took over the future expenses for the seller financing note and the other costs like engineering. 

We leveraged the land and got a bank loan for $1.6 Million.

THESE DEALS ARE OUT THERE!

@Jeff Miller if you come down South I would be happy to meet up with you.

I haven't been as active as some other investors in going to investor meet-ups but I find that they can be a double edge sword as you have seen with Rich Dad Poor Dad.

Real Estate is about the long game and so is life.

You want to decide where you are going and make investment and life decisions to get you there.

 Hahaha

Once in the past, I used an Ozone machine to help with the smoke smell and it did make a difference. Enough that we sold the home without it being a smoker house.

Today, I will be trying out an even more powerful machine in a mobile home we are renovating that smells like the worst smoke smell you can imagine. 

What I want to know is what others have experienced using OZone Machines for bad odors.

You are supposed to be able to use them to kill bugs.