All Forum Posts by: Daniel Johnson

Hey Everyone-

Thanksgiving is conflicting with our normally scheduled meetup, so we are going to meet a week earlier than usual. We are also trying out a new venue, Fiddlin' Fish Brewing. We had a great crowd last month, but being forced indoors with a band was sub-optimal(sorry for everyone's hearing!) --- Looking forward to connecting again this month, just look for the BP sign at the table if you are new!

@Oman Hattley - good call on the date conflicts. I was thinking we look at adjusting the date, as well as the venue. Last meeting was quite loud, since there was a band and we were forced inside by the rain. Here is the plan for November. Let's move the meeting to Nov. 18th, 7 pm at Fiddlin' Fish Brewing. It is around the corner from where normally meet, the address is: 772 Trade St NW, Winston-Salem, NC 27101 --- I'm going to put a new event up here on BP, but look forward to seeing everyone that can make it to our adjusted meeting date!

Hey Everyone! I'm nudging this thread to remind everyone we have a meetup scheduled for tomorrow evening at Radar Brewing. If it is rainy or cold, we will take it inside and grab some tables to the right of the bar. More info here: https://www.biggerpockets.com/...

Investment Info:

Single-family residence buy & hold investment in Winston Salem.

Purchase price: $115,000
Cash invested: $17,250

Purchased one side of a "twin home", it was turnkey, so we repainted and furnished the property. Once complete, we listed on Zillow as a all-inclusive furnished listing and found a tenant at $1,700/mo.

What made you interested in investing in this type of deal?

This is a little known neighborhood in my town. It is a very private community that is well maintained, but prices are still very affordable.

How did you find this deal and how did you negotiate it?

It was listed on the MLS, negotiated with a quick close.

How did you finance this deal?

We financed the deal with a local commercial lender. They allowed a 15% down, 20 year amort, 5 yr balloon.

How did you add value to the deal?

We furnished the property and got professional pictures taken.

What was the outcome?

Long-term lease at above market rates.

Hey Everyone! Looking forward to another great meetup at Radar Brewing Company. We have had great turnouts for the last 3 meetups. We will continue to have it as a casual gathering, but interested to hear your ideas on the meetup and how we might be able to make it more meaningful for everyone. Look forward to seeing all past attendees, and any other new folks!

@William Wilson - Yep! 7 pm at Radar Brewing. Looking forward to seeing everyone there!

Hey everyone! Looking forward to our meetup this Thursday at 7 PM at Radar Brewing! Let me Know if you have any questions!

@Wendy Diaz - This is a difficult area, because a financial planner "connected" to DSTs would have an incentive to sell you the DST investments. In my experience, anytime someone is compensated to sell a product, that is always going to be the recommendation. It is very likely that a DST will be a good option for you to 1031 over into a more passive investment vehicle, however, much more also probably needs to go into the consideration of this. A good financial planner will look at your situation, help you understand your goals and design a path forward that both hits your goals and is tax-efficient. There are now a few of us real estate oriented financial planners around.

@Jonathan Swanson - if it happens, I will be there. I’m in Winston Salem.

Everyone welcome! We are still in our first few meetings here in the Triad and have enjoyed meeting each other and getting to know one another. If the weather cooperates, we meet outside. Questions? Don't hesitate to ask or reach out!