All Forum Posts by: John Claborn

BP created my entire business plan simply by listening to the podcasts and participating in the forums. 

Caleb Kitchens just finished a flip house for me and is currently renovating a rental house. He's about market price, but he's young (27), and he has a lot of incentive to do a great job. We've gotten to know him on a personal level and he's a straight shooter, which I love. We're hoping this is a long-term deal and so far he's done a great job for our investment company. DM for details or to discuss more!

Good morning! I've been thinking about this for a while, but I'd love feedback from those who have experience. Real simple question. How do we, as investors, differentiate ourselves from our competitors with our current realtors? Essentially, what can an investor do that will make his/her realtor want to send the investor more deals or have first-look?

Without doing anything unethical or illegal, what do realtors look for in their clients that allow them to say, "I want to send as many deals to (investor) because he/she _______________________?

Joan, that's what I'm getting as well. Minimum 15% down, which is fine. I'm just wanting to consider all options with potentially better terms and interest rates. I'll talk to Jonathan. I've known him a while. I've also contacted Larry. I appreciate the feedback.

Good afternoon! I've spoken with a few banks regarding their lending practices for single family buy and holds along with rates, and terms. I've had a few get back to me with typical 15/20 year notes between 5%-6% interest with 15%-20% down. 

Does anyone have any Lubbock lenders that would favor other strategies of lending? I'm perfectly comfortable with the above rates and terms, but I'd also like other opinions if they are out there!

I've heard about a program through Alliance CU where they will loan up to the ARV of the property.

Thanks!

Jordan, let's get together to discuss!

Hey everyone, I have a scenario I'd like some feedback on if possible. Our investment group has been approached about acquiring 4 storage unit facilities. 3 in Carlsbad, NM and 1 in Eunice, NM. 

We've are solely invested in apartment complexes in D/FW and Houston as of right now. The seller is a retiree looking to sell of his assets. He's a current health insurance client of mine as well, so we have to approach this very carefully. 

Based on our discussions with other investors in the area and real estate professionals, we've deemed the storage facilities as a pretty risky venture in these areas of the state. 

What are some good indicators of potential investments in storage facilities other than the obvious (unit mix, sale price, rents, NOI, Cap rate, etc.) What would be a good Cap rate on facilities in these parts if that can be determined without closely examining the numbers which we've yet to secure from the seller? We're brand new into this market, but we know the profitability in our hometown of Lubbock, TX, so we want to see if we can make it happen.

Any information would be helpful to us. Thank you!

Sorry, Artistry Custom Homes.

Chris, Gabriel Reyes with Artistic Custom Homes is doing a flip for us. Jantzen Louder at COTR recommended him to me, and I think you may know Jantzen.

Greg - Sorry about that. Should have been more clear. We analyzed based on the ARV of $151k, which we believe is being conservative in its area. Current value is likely below $100k in its current condition. We've looked at recent comps, and two houses on the same block with similar layouts and square footage sold at $62/ft. and $63/ft. each within the past couple of weeks.

Garrett - That's the issue. We're still early in the option period, so we are not sure if it's permitted yet. We are waiting to find out. It's a converted garage that we cannot actually count towards the square footage apparently. I think that's what we're trying to figure out. If we roll the dice and put $10k in to finish that out, can we add an additional $15k-$20k to the value.