All Forum Posts by: Jordan Robinson

I have to agree with Bill mostly, this sounds like a really bad deal for the seller unless they're sitting on no equity whatsoever. It may be a good deal for you depending on your strategy. What do you plan on doing with the property/ what does it need? 

If you're going to be adding a significant amount of value through renovations then refinancing in 2 years may not be an issue. Otherwise you're likely going to have to bring more equity into the deal and likely at a higher interest rate. 

Hey BP fam,

I have several multifamily and single family creative financing deals available: seller financing and subject to/ loan assumptions available for purchase in multiple GA cities. 

On the single family side most are turnkey rentals ideal for buy and hold or coliving conversions.

On the multifamily side they range from 2-24 units of light to heavy value add. 

Send me a message to view the folder if you’re an interested investor.

@Oscar Chen

Welcome to BP and Happy Investing!

FB and virtual RE groups are a great resource for networking with other local real estate professionals. Happy to connect when you need help sourcing off market Augusta GA deals.

Albany looks pretty good to me values wise. Median property value at $171,820 up 15.5% over the past 12 months. 

I'm active all over GA and Columbus is one of my favorite markets here. Vibrant downtown area, prices are great, long term rents are solid, STR ordinance is pretty straightforward too. That said, you'd definitely want to do your homework on areas/ streets.

Congrats on the success, Guillermo! 

Happy to connect, I work with Investors in finding off market deals all over Georgia. 

Hey Jon,

Like others have said, Investor Facebook groups are an invaluable resource for networking with local wholesalers. One tip would be to join groups in surrounding markets as well because wholesalers are often active in multiple markets. Definitely do your due diligence because there's a good bit of crap to sift through on there (daisy chains and the like). 

As an investor friendly agent I routinely have a good bit of off market inventory as well from expired listings, pocket listings, etc. Feel free to send me a message and I can share some local groups I'm active in as well. 

Fellow BP Investors/ Developers,

I want to share a concept I’ve been thinking about for a development project with the hopes of open sourcing it and getting some feedback.

I’m calling it a Double Qualified Deal, its basically an Affordable Housing Concept that could be done in any market in the U.S.

And It’s easiest for me to express it as a formula: 

LIHTC + (QCT*QOZ) + QOF

where…

LIHTC: An Affordable Housing Project Financed with Low Income Housing Tax Credits

QCT: The Property is Located Within a Qualified Census Tract

QOZ: The Property is located within a Qualified Opportunity Zone

QOF: The Ownership entity is registered as a Qualified Opportunity Fund

The basic idea is to combine the opportunity zone tax benefits with the 30% boost in eligible basis that LIHTC deals get in qualified Census tracts.

Investors would get opportunity fund benefits on the capital gains that they invest as well as a 10 year tax credit AND equity in the project with no capital gain on the appreciation after 10 years.

And the Developer would be able to use the LIHTC eligible basis boost to raise 40-50% of the equity for the project and obviously earn a development fee.

I recognize this structure would only appeal to a small group of investors with capital gains and that are comfortable with a long term holding period. (I imagine this deal to work best for family offices or high net worth individuals after a capital gains event).

However I’m putting this up to see if anyone has ever done or thought about doing anything similar? Or if you’re active in the LIHTC or Opportunity Fund space what your initial thoughts are about combining these programs?

That's great to hear I hope he stays interested! @Bill Tyler

@Lear Walls We are just getting into raising private money, so I'm probably not the best person to answer. Theres alot of great information on BP so I would browse more here. 

I think friends and family can be a good source, also we've talked with some of our wholesale buyers about them becoming a private lender for us.