All Forum Posts by: Jamie Parker

Many times while networking I will admit, my understanding was only as far as the deal I was getting to or the one that I just closed. As stated in my bio, I have taken some much needed time away from being active in the community. Since coming back to real estate and investing Jan 1 this year, I have learned some new concepts and have made sense of some concepts that were way past my understanding 2016-2019. That being said;

Oppurtunity Zones: I have seen the new bill thats been proposed, I read thru a good piece of it (first bill I have ever seen or read). However this is an angle I would definitely pursue in the way it has been related to me. 

PPMs: Will be sitting down with an attorney to figure out what this means and how it should be approached.

Businesses that own real estate: I have come to understand that I will need to occupy my time with some form of gainful employment on a day to day basis. scouring for need deals in various markets is a good way to maintain that feeling of usefulness. However, gaining inspiration on "what and where to buy next" is more of a complexity than i first understood as a wholesaler. 

Ok So for the ask> What does "Raising a Fund" Look like? 

Ive heard of raising funds, heard of syndicating, and also heard of private lending and private equity. Hell  never even raised funds yet, but through chasing the rabbit and networking with others that are above where I am. Where do I start breaking the concept of Raising a fund, down into digestible pieces to bring value to investors/agents/brokers that i would otherwise may have over looked if I were to dive into this side of the pool looking at opportunities one-sided or swimming upstream because its that time of the year. 

Alright, before i lose my train of thought because of analogies. Raising a fund?  

@James Wachob thank you for the inside track. You answered precisely. “Sticks and bricks” is the number I’m looking for. I was quoted on a rehab for around $131/sqft the official quote came in closer to your number $116/sqft. 

In to the weeds: I can check with codes and planning for what’s allowed. 

As I get closer to making waves can I contact you? 

Just jumping in here at the tail end. How similar is managing multifamily vs a portfolio of sfrs?

Im looking for one as a well. do you have google drive.  I may have one in my files that you could use. gonna have to dig for it, has all the insurance taxes and whatnot on it. the ones i use now if more for cap rates and making offers. 

Ok bro!! 

Looks to be retail from new paint, doors and windows. Interior is crisp! 

looks like a solid STR or top of the market rental. (4)2/1 (2)1/1? going off the windows

according to the realtor dot com the property need to cover $3900 mortgage. that is 650 per door.

However, taking into account for maintenance, insurance, taxes, management, and spread. 

Question can it rent for 750-850 per door or 850 for the 2/1 and 650-750 for the 1/1? if the rental comps support these numbers it may work. 

Biggest problem now in the market as a whole. Tho interest rates are uncomfortable, bank closings have made the lending market pucker a little. It is easier to by an asset that is already performing  because non performing assets have to be stabilized into the debt service cost.

Huntsville is a good secondary market to nashville investors. I don't know the area honestly. been to redstone arsenal a couple times but thats bout it. 

Hope this helps

What kinda of investing are you aiming at in Jackson. Im not in your area but curious about the region. In up in memphis and desoto county.

What is the cost to build in memphis on average. I want to make an offer on a 2 packages of vacant lots looking like 10-20 builds. If I'm getting the lot for 25-35k am I listing @ 225-250. What are the hard cost(sewer taps, GC fees, permits), time frames from surveys to footers to frame to ruff ends?  

Looking to factor the cost of money. Timing is what it is. BFR (building for rent) may be an alternate exit with cash out refi. Main objective is building for sell. 

Hello,

What market do you flip in? what type of loans and/or financing opportunities are ideal for you situation?

Well my first thought would be states with no income tax,

Second possible oppurtunity zones, (legislation is currently stalled as of 22 March to include more census tracts)

third asset types, I like multifamily 4-20 units, sfr portfolios 5-10 or ones you can cherry pick.

then to markets Memphis is a good rental market secondary market like desoto county, bartlett germantown etc. Nashville is a alittle hot and it would take some work to get in a deal. A secondary market of a city like nashville tho. Clarksville, murfreesboro, hermitage, hendersonville. Worked for an investor and acquired nearly 200 doors in 6 months in bham. Only draw back to good markets is heavy hedge fund presence. There is a good amount of competition. WIth good property management things seem solid. 

I have been canvassing San Antonio and Dallas, Phoenix, Ft Lauderdale, Asheville and surrounding areas. 

would you ever consider putting down 25-40% down to get a better CoC?

Well im glad you mentioned seller financing. I gonna close (finally) in April on a rehab. Then may grab a seller financing deal every couple months. because 0% is way better than what anyone can do at this moment. I do offer the seller 3% of the purchase price due at closing. To say hey thanks for letting me finance with you versus the bank.