All Forum Posts by: Jeremy Vogan

Sure thing Mayank, sending you an email now

JV

Yep here you go Mayank:

http://www.biggerpockets.com/forums/517/topics/174...

Serving the Charlottesville, Harrisonburg, Lynchburg, Roanoke, Richmond markets

• 512 Arrington Drive, Evington VA
• $374,900 purchase price (will not discount)
• Property information here: 512 Arrington
• Minimum 10% down non-recourse owner financing available, 30-year amortization
• $2071 yearly expenses (est. insurance, taxes, HOA) to be paid by Purchaser
• Positive cash flow after debt service and all Purchaser-paid expenses with 20% down payment and 5% 30-year commercial loan
• All rental income, maintenance, turnover, builder's warranty, property management, etc. expenses are guaranteed by Seller for 5 years (capped at 8% of purchase price)
• Seller is 20-year veteran developer/builder in Virginia with $100M in assets
• Many other properties available, this is one of the better cash flowing units in the remaining package ($20M sold to investors so far)

Call Jeremy Vogan at 540 487 0480 or email [email protected] for details and sample contracts.

This is not a scam or low-quality product offering. These are premium properties commanding top rents in markets we are building in, and is a great appreciation opportunity.

Jeremy Vogan

Project Manager

Countryside Service Company, LC

28 Imperial Drive

Staunton, VA 24401

Elizabeth O is exactly right, you have to get out and look. Property management and any (legitimate) guarantees are a big deal and make it possible to put together an appreciation package with nominal or breakeven cash flow that are a great addition to your portfolio. Don't count out central VA, there are some stable markets with aggressive appreciation that are a good deal right now.

JV

• 72 Pinnacle Drive, Lexington VA
• $189900 purchase price (will not discount)
• Property information here: 72 Pinnacle
• 10% down non-recourse owner financing available, 30-year amortization
• $1481 yearly expenses (est. insurance, taxes, HOA) to be paid by Purchaser
• Positive cash flow after debt service and all Purchaser-paid expenses with 10% down payment
• All rental income, maintenance, turnover, builder's warranty, property management, etc. expenses are guaranteed by Seller for 5 years (capped at 8% of purchase price)
• Seller is 20-year veteran developer/builder in Virginia with $100M in assets
• Many other properties available, this is the best cash flowing unit in the remaining package ($20M sold to investors so far)

Call Jeremy Vogan at 540 487 0480 or email [email protected] for details and sample contracts.

This is not a scam or low-quality product offering. These are premium properties commanding top rents in markets we are building in, and is a great appreciation opportunity.

Jeremy Vogan

Project Manager

Countryside Service Company, LC

28 Imperial Drive

Staunton, VA 24401

Jay, thanks for asking. Because we are privately owned by more than 100 stockholders, our guarantees are backed by our company's performance and in particular over the last 6 years. We have never made a guarantee in the last two decades that was not honored, and this is evidenced by the fact that two of our longtime investors just signed to back a deal with us to build more than 100 new SFH and a new condo project. It may not be the kind of guarantee that would be attractive on Wall Street, but there are a lot of Main Street investors out there who will appreciate it.

Another component is our inventory position in the marketplace. At the beginning of the recession we had 1700 building lots in the state of Virginia; after an aggressive "build our way out of the slump" strategy we now have 1100, most of which are in the same communities as the investment property we are selling. Not only do we have daily feet on the street in these locations, but we are also unconditionally committed to property values (read: comps) in our neighborhoods because we are starting new homes there every day and our prices have risen aggressively since 2012. We didn't walk away from a single property since 2008 and we're not going to.

Finally, these houses and condos and towns are not your typical flip jobs with hair. Every one of these properties is newer construction in great locations and most of them are brand new properties we built ourselves. They meet our internal standards for quality construction and upkeep, and they all command premium rents. The homes will continue to appreciate as they have over the last couple of decades and a number of investors have realized this so far, with $20M sold (for full price!) just since we started the program last summer.

Hope this helps clarify our strategy!

JV

I agree with @SteveBabiak. Investors buy TK so they can hold it and not have to put money in for a period of time. State all expenses up front (taxes, insurance estimate, HOA if applicable) and then cover everything else:

1. Guarantee the investor will receive rents every month

2. Provide property management / turnover coverage

3. Pick up expenses such as appliance replacement, etc.

4. Assist with warranty claims when applicable

5. State your absolute limit of liability in terms of cash and time

With respect, @CurtDavis is mistaken. You can get a 5-year guarantee on new construction rental property under the right circumstances (http://www.biggerpockets.com/forums/517/topics/174...). It all comes down to the company's track record and the specific terms of the deal. My firm has sold $20M in new/newer construction rental property to investors in the last 8 months, much of which came with 5-year guarantees. Our 20-year track record as a builder/developer and the $100M in assets we held onto through the recession speak to our stability and capacity to back our guarantees going forward. Our absolute limit of liability is 8% of purchase price to conform with GAAP rules for a sale, which is a very important benchmark. Companies that promise you more than this probably aren't for real. And the firms that had funds in escrow, teams of lawyers, and reams of paper backing their guarantees - like Lehman Brothers - sometimes don't compare to a seasoned operator with decades of street cred in the business that has everything to lose if they don't do what they say.

I share this example not to pitch our firm (there are doubtless a number of others like us out there who are legitimate), but to demonstrate that there is a workable business model for long-term guarantees that works for both parties. Now here's the catch, if catch there is:

1. You will pay top dollar for the properties. This is not all bad, since if you are a B&H investor you're interested in appreciation as an investment goal, and top dollar is that many more comps in the neighborhoods you're investing in, pushing up your property values in the long term.

2. You won't get rich off the cash flow. Many investors will be happy with a bit of negative CF and some will negotiate for a bit of positive, but in the end you won't make your money every month. You make your money in 5 years when your property is worth 15% more than you paid for it and rents have followed property values.

All this to say, it can be done. Smartest thing you can do is ask for a buyer's list and call them all up to ensure that the properties they invested in have met their expectations.

Jeremy Vogan

Unique investment package offered: Ninety-one SFH, townhouses, and condos in central Virginia markets. New or newer construction and all properties are leased up and in great shape. Insurance against rental income shortfall, all turnover costs, all maintenance expense, and property management are offered as contractual guarantees for 5 years; this means you are only responsible for debt service, POA fees (if applicable) and insurance. You can cherry-pick or negotiate a deal on the whole package. This is not a discount opportunity or large cash flow, it is buy and hold package you can hold and be assured of stability and aggressive package appreciation.

I am a Project Manager for the seller and we own the properties. A creative deal can be structured to suit your investing needs, including 10% down non-recourse owner financing with 30-year am. Call Jeremy Vogan at (540) 487-0480 or email [email protected] for more information and an information package. We have sold more than 30 properties on the list so far but many attractive units are still available.

Seller financing is a rare bird anymore. My company is the only one I know of in Virginia that does it and can offer cash-flowing investment property. You want to make sure you are dealing with a seasoned firm that has sound financials and a diverse portfolio, and you want to make sure you are looking at ARMs, not balloon payments.

Jeremy D. Vogan

Staunton, VA