All Forum Posts by: Jason E. Smith

Alex, welcome to the area. If you’ll let us know when and where we can try our best to join. Have a great weekend!

Heather, we hope you’re having a great Friday!  The NHI just fell below 50 for the first time in several years. So that increases the chances of seeing residential Multifamily on sale in the coming months. I would recommend allocating a higher percentage to dry capital to be poised to take advantage of properties on sale. If you need another great resource touch base with @Kevin Stringari and the great folks at Bottom Line Reality. Have a wonderful weekend!  

Hey John,  Congratulations on having the courage to tell the world your investing desires and concerns.  Some good advice already being shared.  One critical recommendation I would add, before finding the deal or financing or running numbers, find a mentor.  They will compress time and help you avoid a lot of mistakes.  Feel free to send me a direct message and I'll give you all my personal contact info and you're welcome to schedule a call and pick my brain.  

Welcome to BP Don!  I would check in with @Kevin Stringari and the great people at Bottom line Realty and let them guide you through the acquisition process!  

Hey Kiran, contact Ruth Hudspeth with Fairway Mortgage and see if she can help.  Good luck!  

Hey Bryen, I recommend @Kevin Stringari and the great staff at Bottom Line Realty and Management. 

Katelyn, hope you and your family are well in these unprecedented times. I recommend JR French with 360 contractor service based in Rock Hill SC. His website is 360 contractor services dot net (sorry I can't put a very easy hyper link in here, I did that first and apparently it's a federal offense on Bigger pockets to post valuable information such as website, phone numbers, etc in these forums, so much for value add)  and another great Charlotte resource is @Kevin Stringari and the amazing staff at Bottom line Reality. Hope that helps! Have a great quarantine weekend!

Hey Bianca, for Charlotte I recommend @Kevin Stringari and the awesome people at Bottom Line reality. Good luck!!

Matthew, I think trying to go after the buyer for anything additional will just make a bad situation worse. Put yourself in their shoes for a moment. Given they're paying cash they are more than likely middle age or older. So there's a high probability they spent many years slowly growing the savings they have. Then they watch about 30% of it disappear in a matter of weeks to something they feel was out of their control. Consider the fear they have now. And if paying cash for your property leaves their pool of remaining capital very small they could be afraid of how long they will survive on their remaining cash and worrying about having to return to the work force at a time when many are being laid off. So going after them would only add to their current anxiety. Empathy goes a long way in real estate. You could offer them a 20 day contract extension where you can resume showing the property to new prospective buyers. Then if the market provides them some peace in that time they possibly would close. Or you may find a new buyer in that period and even be able to return this buyers EMD to them when the next buyer puts up EMD and everyone would be happy. Real estate is about finding a wining deal for everyone involved. I would look at this as a great learning opportunity but I definitely would not purse any more from this buyer. And one last piece of guidance. The residential world has tens of thousands of people in it. You can hide your reputation in the residential world. The commercial world of real estate is exponentially smaller and your reputation is paramount. How seller's and buyer's handle these situations will determine your reputation and your success. Best of luck!

Hey Kyle, if you're still looking for guidance the below may help:

Dear Friends,

Please feel free to forward this email to friends, family and others in North Carolina who might benefit!

The NC Bar Association’s 13th Annual “4ALL Statewide Service Day” will take place on Friday, March 6, at call centers in Asheville, Charlotte, Fayetteville, Greensboro, Greenville, Raleigh and Wilmington. On that day, North Carolinians will be able to talk to an NC lawyer by phone for free!

Attorney volunteers from the North Carolina Bar Association will take calls from members of the public with law-related questions. Each year, nearly 10,000 North Carolinians call in and talk to volunteer lawyers at no charge during the 4ALL Statewide Service Day.

Anyone in N.C. can call one of the toll-free numbers between the hours of 7 a.m. and 7 p.m. Callers will not be asked for their name or any contact information - they can just ask their questions!

The toll free phone numbers will be available later this week, so be sure to check out our Social Media (and search hashtag #4ALLNCBF) to receive the phone numbers. You can also go to www.ncbar.org to get the phone numbers for the other call centers across the state when they are released. If a toll-free number is busy that day, callers can use any of the phone numbers listed.

Areas of practice will include criminal law, real estate, wills and probate, powers of attorney, landlord-tenant, immigration, child custody and support, divorce, business, debt collection and more.

We would appreciate your help in getting the word out, so please feel free to forward this message to organizations, friends and family so those who have legal questions know about this opportunity to talk to a North Carolina lawyer at no charge.

Again, it’s this Friday, March 6, from 7 a.m. to 7 p.m. Thanks for helping us spread the word!