All Forum Posts by: Jason Cohen

Hi All - I've never been to Jackson, MS but a deal has come to us that is too good to pass up.  We are looking at a large multifamily property in the heart of downtown Jackson, MS.   I hear that there are a lot of bad pockets, but my question is related to an area I hear is acceptable. Our project is downtown Jackson, MS near the Governor's Mansion. 

I'd like to hear if anyone has experience in this market. What your thoughts are about the area? What type of exit cap rate can I expect to sell the property at? What type of rents should I expect for studios and 1 bedrooms with good quality finishes?  Who will be my renter for studio apartments?

I look forward to hearing from you.

@Hussein Adan can you direct me to a list of wholesalers in Maine? Any you might know?

@Amy A. Would you consider a sell?

@Scot Jalbert would you consider a sale?

@Bryan Whittington good to see you active in the business my friend. The little that I do know about this is that you cannot use your self directed Ira funds in your own deals. They need to be put in other deals that you don’t have an operating role. My buddy Dan is much more experienced in this than I am and can help guide you. Reach out to him. Tell him I sent you.

Dan Kryzanowski at rocket dollar

Anyone have any experience with multifamily properties in Greenville, South Carolina (ie. Near GMU airport, Haywood Mall area? How’s vacancy? What kind of demo can I expect? What’s the highest end of finishes you would assume is reasonable for the area? Are we talking stainless steel and quartz or more vinyl and white appliances? Is this area landlord friendly? Any draconian landlord/Tenant laws I should be aware of? Do you think studio rentals would do well in this area? What type of rents would you expect for a studio in this area?

Jaime - send me what you have. I’ll consider.

Sounds promising. While a lot can happen within 3 and 5 miles, it’s certainly good news regarding the growth in the area.

Invest minimally into the property until you have a sense that higher dollar renters are willing to relocate there for the right product. 

Know your market and beware of diminishing returns is what I’m trying to get at. Best of luck to you!

Careful with over investing in C areas. Fence and surveillance can get pricey. Fence won’t stop anyone from coming in that wants to. Nest Cam is a great inexpensive alternative to any type of hardwired system if you’re going to go that route anyways. Pictures would help me give more advice... Try to limit exterior to “MUST Repairs” ie. Life safety issues (railings, sidewalk repair etc). Outside of that, paint and Landscaping can go a long way to beautify exterior on the cost effective.

Brian - We own appx 1000 units in Pittsburgh, and am happy to provide any insight I can if you need any further guidance.