All Forum Posts by: John Fortes

In the area in Brockton. Definitely can bump up the rents pending the work that needs to be done. If this is your first, I know all of the information everyone has provided can be overwhelming but if your already at this stage, might as well see how far you can go on this one, if the deal checks out. Also, as @Seth Williams mentions, 3 or 4 family would be ideal. Please feel free to reach out if you'd like to connect. Happy New Year, be well and God bless!

Good work Elizabeth. I'm assuming your moving onto the next project once the refi is complete. But keep in mind that your interest rate projection might be higher now with the recent hike. Just be a bit more conservative on that front. Good work and God bless going forward. 

Thank you for the heads up Derek. Best of luck to you. Happy New Year!

@Daniel Forte With the OZ opportunity, make sure you can develop more units if there is already a multifamily component already established. It's very hard to put X amount of rehab and renovation into a complex without the development component minus the price of the land. So if there is room on the parcel to build a few more units go for it. Other than that, development on a zoned land is a good way to tackle the OZ. Very hard if there isn't much development play.

Love this! Thank you for sharing. Have a Happy New Year and here's to 2019!

God bless!

Steps to take

1. Educate yourself! This is going to be what you do for the rest of your life as you constantly tweak and insert what you learned into action.

2. Analyze as many deals as possible. Keep reviewing and learning how to spot a good deal from a bad deal.

3. Connect with like minded people.

4. Talk about real estate! Be vocal and intentional with your conversations. You never know who is interested and needs help. Since you have educated yourself and analyzed deals, great chance to partner with a money partner on that front.

5. Raise money for your own deals.

6. Find deals for others. Also known as bird dogging.

7. Invest in someone else's deal or syndication. Learn from the process and get involved someway, somehow.

8. Find a mentor and volunteer to help them for free. Add value to someone else for free education and building a friendship/relationship.

9. Write a blog, start a podcast, start a YouTube channel, or do all 3.

10. Be active on your social media platforms and create your own brand.

These are not step by step processes. Just guidelines to help you get to your end goal. 1, 2, and 3 are crucial but everything else tackle it in your own way and process. Just do it. Hope this helps, good luck, and God bless!

Currently looking into OZ in my hometown and the opportunity is tremendous. Kicker is finding investors trying to move capital gain taxed funds. Could be via stocks recently sold or an asset. Hard part is making sure you can improve/add to the existing property or a development is more ideal.

One must double the basis minus the land for it to fit the criteria of the OZ. Example: you buy for $1.2M the land is worth $200k so you must improve the property by $1M. Opportunity I'm looking at is a building that has been approved for multifamily conversion.

As it is now its a shell. Pending the cost of development and the type of financing we can leverage this may be a great opportunity for the high net worth looking to shield their current capital gains and defer it out. Goal is to hold for 10 years and a day before our exit. Still learning more about this and looking into the opportunity but that is all I can go on as an example. 

Exploring financing options as we speak! Love the aspect of leveraging with debt and being able to refinance the initial capital or part of it back out upon completion and stabilization of the building. Sounds ideal and a great opportunity. @Austin Hendrickson please let me know if I'm missing anything. Lets connect!

Seems like you already started some of your research. @Joe Fairless is a great one to hitch your wagon to. @Gino Barbaro & @Neal Bawa also have funds. There are many more out there that do this as well. Treat it like you would a job search. Do your homework on the company, analyze the deal, recognize its the right fit, then move forward with it. 

Always remember that not every deal is the deal for you. You might be spread out into different funds with different syndicators. Which is completely fine. Example: if you have 100K to invest and you like 2 opportunities, go into both deals with 50K. This will allow you to measure the syndicator and styles. Hope this helps! 

@Derek Rice how long are you planning on holding these for?

@Jim Goebel thank you for sharing! Currently looking into OZ in my hometown and the opportunity is tremendous. Kicker is finding investors trying to move capital gain taxed funds. Could be via stocks recently sold or an asset. Hard part is making sure you can improve/add to the existing property or a development is more ideal. One must double the basis minus the land for it to fit the criteria of the OZ. Example: you buy for $1.2M the land is worth $200k so you must improve the property by $1M. Opportunity I'm looking at is a building that has been approved for multifamily conversion. As it is now its a shell. Pending the cost of development and the type of financing we can leverage this may be a great opportunity for the high net worth looking to shield their current capital gains and defer it out. Goal is to hold for 10 years and a day before our exit. Still learning more about this and looking into the opportunity but that is all I can go on as an example. If anyone would like to connect on this topic, I'd love to connect and share what I've learned and what I'm learning on this. Merry Christmas and God bless!