All Forum Posts by: Jeffrey Holst

@Nathan Recchia being a pilot would be a pretty cool job. Best of luck with that. Also feel free to look me up before you leave the area.

@Brian Ellis thanks for the response. And thanks to everyone else. This has been a lot of fun!

Originally posted by @Jay Hinrichs:

Originally posted by @Kevin Dong:

I have a blast year. Going from 4 rental units free and clear hitting the 16 units free and clear by the end of 2018 .   I have flipped over 15 house this year . Now have 5 flips going on .   Def a life changing year.   Just realize how great the real estate is . Making money quicker and faster along the way you are having more money to play. Longer you are into the business, more quality people you meet.  Your net worth is equal to network . That’s def a true statement. It is a fact. I would personally take some loss in order to build relationship.  Making over half million dollar pure profit from real estate plus 12 units free and clear properties to my Profolio is not a bad year.  Not bad as a 27 year old boy lol.  

Thank @Jay Hinrichs for all the knowledge and guidance.   Happy Thanksgiving everyone. 

 Awesome job especially the free and clear rentals don't let anyone tell you that's stuck equity or any of the other BS people throw out there free and Clear is the way to go if you have the means to do it.

 I also love free and clear rentals we keep a smattering of them just as a hedge I fall into the middle category some free and clear and some leverage

Happy Thanksgiving BP community!  I thought it might be fun to all share a little about what we are thankful for this year.  Ill go first hopefully a few others would like to share as well.

This year has been great,  my primary partner,(@Travis Bronik) and I closed on a 32 unit complex, and have fully stabilized our 19 unit that we bought last year at this time.  We were able to increase rents by more than $100 per door! Travis and I also have been able to sell a couple properties for solid returns and bought some new one down in Chattanooga (where I am located) 

I am also thankful that I was able to form a new partnership with my good friend and now partner @Brian Levredge  Brian and I formed a new company (Old Fashioned Real Estate) and are about to roll out our new video podcast where we talk about real estate while drinking bourbon  old fashioneds.  We are super excited about that since it will allow us to give back by sharing our knowledge and experience and should be a ton of fun.  Brian and I also just syndicated our first deal and are about to close on a second deal (by end of month) 

Aside from Real Estate, I am also very thankful that some of my family were able to make it down and see us this year and that we are all healthy enough to enjoy the time together for another year.  

I look forward to hearing what you are thankful for. Hope you are have as great a time as I am.

This is the link to the October one.  I don't think there is one planned yet for November.

https://www.biggerpockets.com/forums/521/topics/629733-october-chattanooga-investor-happy-hour

I do. We have a monthly biggerpockets meet up usually last Thursday of the month.  I'll check and see if there is a post about the next one and tag you in it. Also I am always willing to talk real estate. I'm in Hixson and would be happy to meet you for lunch or drinks sometime.

another option for you might be just to participate in some kind of syndication get some kind of real estate exposure that way and just be purely passive and focus on school

@Nathan Recchia I think selling the house and reinvesting the money into something else probably makes more sense. The market for houses around 250 to 260 it's still pretty hot in Chattanooga. I think that the $60,000 or more that you have after cost of sale make a excellent start on a couple of duplexes in Chattanooga.but if you're thinking of doing something like that you're going to want to interview some property management companies before you do that. figure out what areas make sense to rent in where you're going to get the best rents and make sure you're comfortable with your local property manager and maybe a contractor or two. Definitely don't think that you should try to rent out a 250000 or more house the return that you would get on something like that isn't great the only reason to do that would be if you plan on moving back in a year or two and you want to move back to the same house.

@Scott Krone thank you for writing a much more coherent post than my ramblings. I concur with what you said.

Another thing about opportunity zones to keep in mind is that there's a lot of them some are in really risky areas but others are in great areas. since the rules allowed the local governments to designate opportunity zones based on the 2010 census poverty levels some of the communities were able to get opportunity zones approved in areas that quite frankly as we sit here in 2018 probably should have never been opportunity zones. I think anyone involved in real estate would be wise to pull up the opportunity zone map and look at the areas included in it and their investing zones and look for overlaps. My partner and I are under contract to buy an apartment complex and it happens to be in an opportunity Zone we didn't even know it when we went under contract for the apartment complex and some nearby a couple of other complexes that we have and this one just happens to be in an opportunity Zone doesn't even appear to be a rhyme or reason as to why it's in an opportunity Zone. that being said it's not a redevelopment project and we're not going to be able to take advantage of the tax credit because there's no way that we can put a hundred percent additional Capital into this particular project but what it did is it got us thinking there might be another property nearby that does need that kind of redevelopment and so now we're actively seeking other properties in that same area that will help us build our existing portfolio and potentially get significant capital gains tax deductions at the same time.