All Forum Posts by: Jamie Parker

Rich Hupper I'm an investor from Nashville. I would like to get some information about the cost of buy and hold in that market. I'm really curious because I noticed tons of multi family units in the metro area. Being in the north east is there other cost for heat gas and so on that someone from the south may not usually have?

@Joseph Scorese  I recently caught wind of this program in Tennessee. I would expect for different counties and states to approach this program differently but I would like to get more information about how you implement this program in your city. Is this a paid event? How can I leverage this program from my state if I'm not able to attend? 

Business management for Grand Canyon University. I thought this degree was bogus and a quick way to finish a degree to get a piece of paper. But I'm grateful to be 3 classes away from finishing because I've learned so many different things about business theory and how to approach different situations in my business. Though my business is still in its infancy (a year and half) I feel more confident in my pursuit in business.

Jarrod Cook yes please send that info over I would like to give it a look.

Jarrod Cook i would like to take a look at the 22 unit complex. But I also would like to ask a question. I am eager to get this ball rolling within the year. For someone in my position starting fresh, would this opportunity be best realized with respect to cash flow with a creative owner financing type of deal with 10% down or with a conventional 20-30% down being that I plan to you use property management in every deal?

@Jarrod Cook I appreciate your honesty about the lofty aspirations of my goals. I look to start my commercial journey now. I am currently in a partnership in Birmingham to purchase SF properties. I plan to use funds from that partnership to build cash reserves to pursue a commercial equity to establish incomes of scale. 

CCIM is something i thought would be cool to do, but the rest of the plan if is solid. I can understand that could be reaching if i need to adjust my time frame I'm cool with that, but I really want to be in the commercial space for the access more apartments and other residential based dwellings. 

Why did you switch from commercial? Competition and cut throat nature? Or for residential ease of access to deals? Could you please elaborate on that point.

I have been wholesaling for a little over a year now, I made some progress in my first year, but I want to move my investing career toward CRE. While I move in to the commercial arena for equity I will still pursue wholesale, flip, and new construction opportunities in the markets I am in (Nashville, Birmingham, Memphis) thru partnerships and direct mail. While I'm still a noob in the REI space, I want to know what are best practices to build rapport with a broker(s) to start walking properties and seeing deals before thy hit loop net or the MLS. My plans consist of: 1: purchasing a apartment 10-20 units. 2: partnering with an experienced investor on my first 1 or 2 deals until I gain the confidence to pursue deals solo. 3: becoming a CCIM in the next 5-10 years.

Tom Reid I would pose the question, is 18 months the earliest you can cash out? If you have all the ducks lined up and "you investor" is the only hold up;then I can understand your frustration. If there is still time before day 1 of this partnership, I would check around to find a. lender that can cash you out in say 1 year vice 18 months. Seasoning requirements could vary between institutions. The reason I bring this up is Jay Hinrichs Brings up a great point, about simply getting in the game. If this 50/50 split is this much of a issue, is it about the money or the fact that you "investor" changed up? Because the investor is putting up 100% I think you would want to take note because most times you can only get 65-90 LTV on purchase/rehab cost. This investor is a really valuable person to maintain a relationship with in the future of you start to take down more projects or bigger projects. Don't focus on the problem, use some of the solutions pointed out, sliding profit split, carve in Property management fee for yourself, something. Just get in the game, since you starting out I would hate for you to miss out on cash flow+ deal with a solid exit strategy right out the gate.

I'm in the Birmingham market as well. I would be glad to meet up with anyone in the market that would like to network and talk real estate. I'm am the acquisitions manager. He is a looking to purchase rentals and rehabs in the area. Does anyone attend any meet ups or real estate groups in the Birmingham area?

Mark Matos I would start by looking at existing structures around that area. If the lot is flat or wooded and need to be cleared. Looking at price per acre on similar lots in that area of the subject property. A partner recently wholesaled 5 acres for 10k per pad for 60 pads zoned R10. Zoning in the area of the land the price can range and as Sean Davidson and Mario Policicchio mention it depends on who plans to develop the land. You could Wholesale it to Sean and make some dough and learn somethings a long the way Mario Policicchio I read your profile and see that you have an intensive background in multifamily and commercial investments. When dealing with redevelopment of apartments while maintaining the same land use is your valuation the same as initial development from raw land?