All Forum Posts by: James Colgan
James Colgan has started 24 posts and replied 71 times.
Post: House Hack - Duplex
- Real Estate Agent
- North NJ
- Posts 76
- Votes 16
Hey All, I’ve found an off market duplex in need of some repair (estimate unknown as I haven’t been inside yet). Both sides haven’t been touched since 1980’s and outside def needs some love. I plan on living in one side and renting the other side out.
Home is potentially upside down on mortgage (verifying that) and current owner wants too much for the house. Asking $600k and worth about $500k.
Question 1: I’m aware of Reno 203k loan and Fannie Mae home style construction loan. Any other loans I should look into? I’m not a first time home buyer but wife would qualify, I want to put down less than 10%.
Question 2: if homes upside down on mortgage what are my options?
Would love other feedback/info. If missing info is needed, lmk. Thanks!
Post: From Cali to Memphis were gonna make it happen.
- Real Estate Agent
- North NJ
- Posts 76
- Votes 16
Quote from @David Hutson:
Hey Keenan,
Welcome to Memphis. I'm from the Sacramento area and started investing in Memphis in 2013. I sold all of my CA properties, moved to the Memphis area in 2019 and purchased many houses here. It's definitely more of a street by street market with many good areas.
One thing that may help is our local REIA, Memphis Investors Group. We are a non-profit group and have a lot of investors from all over. We have agents, contractors, wholesalers, etc. memphisinvestorsgroup.com is the link. Reach out when you have a few mintues. I'd be to chat.
David,
My name is Jimmy, my business partner and I are looking into this market now and have reached out to a couple investor friendly agents about areas. We're planning to come out next month, If you're open to a call I'd love to chat and get some more insight.
Thanks!
Post: From Cali to Memphis were gonna make it happen.
- Real Estate Agent
- North NJ
- Posts 76
- Votes 16
Quote from @David Hutson:
Hey Keenan,
Welcome to Memphis. I'm from the Sacramento area and started investing in Memphis in 2013. I sold all of my CA properties, moved to the Memphis area in 2019 and purchased many houses here. It's definitely more of a street by street market with many good areas.
One thing that may help is our local REIA, Memphis Investors Group. We are a non-profit group and have a lot of investors from all over. We have agents, contractors, wholesalers, etc. memphisinvestorsgroup.com is the link. Reach out when you have a few mintues. I'd be to chat.
David,
My name is Jimmy, my business partner and I are looking into this market now and have reached out to a couple investor friendly agents about areas. We're planning to come out next month, If you're open to a call I'd love to chat and get some more insight.
Thanks!
Post: From Cali to Memphis were gonna make it happen.
- Real Estate Agent
- North NJ
- Posts 76
- Votes 16
Quote from @Keenan Patton:
Headed into a new market and loving learning the way things go. I'm a California investor pushing capital into Memphis. Just starting my TN journey and I can tell this is gonna be a fun endeavor. Lots of rehab, lots of potential, and lots of cool stuff to do when I go to see the properties(hahaha). I have a few door in Cali right now but pushing into TN I've put in 8 offers in 3 days with rehab budgets ranging from 20k to 55k. If you're in the Memphis market and want to connect don't be scared to send me a message. Always looking to connect with other like-minded people.
Keenan,
How's the new adventure going? I'm diving into this area now with a partner but open for partner possibilities and to learn!
Post: Anyone use USDA loans (commercial or residential)
- Real Estate Agent
- North NJ
- Posts 76
- Votes 16
Following. I would be interested to learn more about this as well.
Post: New Member Intro! (Out-of-state investor)
- Real Estate Agent
- North NJ
- Posts 76
- Votes 16
Quote from @Jen Arizmendi:
Hi Martin, I'm an investment real estate broker in the South Bend, IN area. This will be my 14th yr in the business and I have client's who are primarily investing from out of the state and country. I'd love to connect! Best of luck in your journey!
Hey Jen, I just started looking in this area for STR. Would love to connect and chat about this!
Post: Investing Strategy - Greater Savannah, GA area!
- Real Estate Agent
- North NJ
- Posts 76
- Votes 16
Quote from @Ryan Cretens:
I'm a real estate agent and long term buy/hold investor in Savannah, GA. I was fortunate to meet some phenomenal people in Orlando a few weeks back at BPCON23! I'd love to connect with more like-minded individuals here in the forums.
For those that are also on their REI journey, but didn't have a chance to attend the conference, what is your niche in this market/location?
Post: South Carolina Properties
- Real Estate Agent
- North NJ
- Posts 76
- Votes 16
Quote from @Brandon Greenplate:
Hey V.G - You are very smart to be focusing on the Carolinas due to the serious wealth migration that is upon us. I'm a realtor/investor/str specialist in Hilton Head and too have properties in both Beaufort & Charleston, as well as several STR's on HHI.
Both plays are great - Beaufort due to the low acquisition prices & immense appreciation potential. Have you looked into executive leases for your charleston duplex? Might be something worth looking into. I would be happy to also get you up to speed on the opportunities on Hilton Head, as the STR demand rental potential is huge.
Keep it up!
Post: Aven HELOC card/general HELOCs
- Real Estate Agent
- North NJ
- Posts 76
- Votes 16
How has everyone's experience been up to now with Aven?
Post: Savannah Georgia multifamily
- Real Estate Agent
- North NJ
- Posts 76
- Votes 16
Quote from @Account Closed:
My friend Beth might be able to help you. She's. a multi-family investor and Realtor in Savannah. 912-484-5804
Hey Kim, I've just begun my search in Savannah and am looking for a potential agent to connect with who specializes in MF and investments. Would you mind asking your friend if she's open to me contacting her? Thanks