All Forum Posts by: Devin Pickett

Hello guys,

Its been a while. So, I have a piece of land that I recently purchased all cash. It’s .34 aches and is zoned R1. I am wanting to get build a new construction home on it to sell as inventory in this area is very low and has been for some time. I have spoke with a few developers and one in particular was on board but backed out. The plan is to get a pre qualified buyer using the USDA loan which will pay 100% of the cost for the buyer but the developer would need to use there resources to foot the build after finding a buyer. I see now that it may be better if I can assume that risk. What options do I have to finance this deal?

Investment Info:

Retail commercial investment investment in Pembroke.

Purchase price: $119,000
Cash invested: $12,000

I purchased a 3 unit cammercial property with 2 units occupied. Then partner with a established business to open a second location in the 3rd (store front) space.

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

I was looking for a location to open a second location for a business partnership.

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

This was a off the market deal that was initially for rent but I saw it as a potential opportunity.

How did you finance this deal?

Owner financing

How did you add value to the deal?

Changing the out ward appearance by making it look more commercial. Painting the exterior, landscaping, replacing the sign, ext. On the inside we made defined every space, made it more functional, replaced floors, painted, ext.

What was the outcome?

We had a successful grand opening. Tenants are very happy with the improvements.

Lessons learned? Challenges?

Have a very clear understanding on compensation before you start working on even the laborer level.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a licensed Real Estate Agent!

@Julianne Udeinya let's connect!

@Jon Sidoti the market is here in Savannah Ga. I been a licensed Realtor for 3 yrs.

I am purchasing a property and inheriting tenants. I was told that one of the tenants has had issues paying in the past. I normally don't do month to month but I heard it's easier to evict than having a one year lease. Is that true? And what do you suggest?

Good Morning,

I have a owner finance deal on my hands. 3 Units total. A store front that is vacant with a hair salon in the back of it. It also has a house that being rented. Seller is asking $130k with 7 % interest and only $5k down over 15 yrs. All three unit when fully rented bring in $1675. My issue is the current Landlord pays the lights, water, insurance, and lawn care witch equal up to $530 per month. How can I make this a deal?

@Joel Owens I would be happy with the tenants paying the utilities.

Good Morning,

I have a owner finance deal on my hands. 3 Units total. A store front that is vacant with a hair salon in the back of it. It also has a house that being rented. Seller is asking $130k with 7 % interest and only $5k down over 15 yrs. All three unit when fully rented bring in $1675. My issue is the current Landlord pays the lights, water, insurance, and lawn care witch equal up to $530 per month. How can I make this a deal?

Good morning everyone! I am looking for an investor friendly closing attorney in the Savannah Georgia area. One that is in favor of creative investing technics. Thank you greatly.

Current mortgage is $800. Rents go for $1100-$1300.