All Forum Posts by: Dan Wynn

@John Watson, Great post! 

I finished a four unit in FT Mitchell a few months ago and ended up buying PM software and self managing. After calling 5 diff property managers (one of which was bickerstaff) in the area, only 2 called back. Of the 2, only 1 showed up to interview on time. 

Maybe I just had bad luck or maybe it was because the property is in Ft Mitchell but i wish you the best of luck.

Isaac,

PM @Eugene Kemp, his wife Lisa is an excellent investor friendly RE agent who I have worked with in the past. Extremely professional and adept on the Jacksonville RE market. Lisa and Gene are both investors as well. Happy hunting friend.

-Dan

@Christian Reese, 121 beatty downs rd Columbia SC

Hello, im an investor out of Jacksonville looking to transition from residential to CREI. Searching for 5-25 unit, mom and pop, value add apartments in the Jacksonville Fl and Columbus Ga markets. Im always looking to network with brokers, lenders, property managers etc. If you have any referals shoot me a message.

-Dan

 Yes, after several interviews, i found a GC. The project is wrapping up now and will let you know how everthing went once done. So far its going well, a little behind schedual but going well. I willbe in town this weekend, if anyone would like to link up and see the property shoot me a message.

-Dan

@Matthew Schroeder, thanks for the reply. 

One of the quads just sold 2 mos ago for 120k. It is 200 sqft larger and slightly more updated. That's why the ARV is at 115k.

Welcome to BP @Jeff Desmond, you will find that there is an abundance of knowledgeable investors on this site that will assist you in your REI journey! I grew up in Jax and also started my investing journey there as well. Let me know if you there is anything i can help you with.

-Dan Wynn

Hey @Darien Holder,

Welcome to BP! 

Keep learning, listening to podcasts, and networking. Asking others how you can help them in their operation will go a long way! 

Remember, Learning leads to action, and action leads to success! Let me know if you have any questions. 

I have a quad under contract right now that looks great on paper! See link below! I am hesitant to pull the trigger on this one because of a few factors:

1.MFs on street- Quad is in a C area but this particular street is lined with other du/tri/quadplexes in varying conditions. About 5/20 MFs are boarded up for various reasons. The quad next door to mine has fire damage and has been boreded up for about 5 mos, there are also duplexes within sight that are boarded up due to water damage. 

2. Increasing personal DTI- I am using conventional financing (4.25%, 30yr fx, 5% down) in my name in order to buy this quad. Most of my capital is currently tied up in the rehab of another quad. The acquisition of this quad will increase my DTI. My focus for 2017-2018 is to switch from buy and hold to purely flipping and learning apartment syndication. This will allow me to build capital then move into larger (25+) MF apartment homes. I am worried that increasing DTI will make it more difficult to secure loans in the future.

Any advice? 

Link to numbers below:

https://www.biggerpockets.com/calculators/shared/3...

Thanks in advance,

 -Dan

I recommend Lisa Kemp, very knowledgeable and a pleasure to work with. She was able to find several deals in the area that fit my criteria. Her husband @Eugene Kemp is an investor in the Jacksonville area as well. Very good people.