All Forum Posts by: Lesley Resnick

HI Brian - 

I have used Lima One for a few of my loans.  I can send you the contact info if you would like.

Jacksonville is like any American city, there are spots that are better than others.  Jax is unique in that there are a lot of areas that change from block top block.

I will PM you. 

Sounds great.

I will pm you 

Has anyone started an Opportunity Zone Fund? 

If you are not familiar, I recommend googling it.

In a nutshell:

You can defer and ultimately erase capital gains, through investing in an Opportunity Zone.  The devil is in the details and there are lot of regs to follow.

I am not sure if I will sell off individual Opportunity Zone funds (single property), or start a collective fund with participation thorugh shares.

Interested in hearing from anyone with a legal or accounting background in this area.

Update: THERE IS NO UPDATE: lol

The property is rented and under management and there has been NO DRAMA. I hope I did not JINX myself!

I took a lot of money out of the property and pay management and still collect a few bucks.  It worked as perfectly.

I wonder if I had gone for a lesser rehab, would I have gotten the same appraisal?  That is always a tough question.  I can not second guess myself.  

I am going to be attending the BP Convention and would like to have a BP meet up for Jacksonville.

I suggest we meet at the lobby Bar on Sunday 10/6 at 4.

Swing by and lets grab a drink and talk everthing Jax!

Looking to connect with old friends and make some new ones. Feel free to reach out.

I am going to be attending the BP Convention and would like to have a BP meet up for Jacksonville.

I suggest we meet at the lobby Bar on Sunday 10/6 at 4.

Swing by and lets grab a drink and talk everthing Jax!

Looking to connect with old friends and make some new ones. Feel free to reach out.

I am going to be attending the BP Convention and would like to have a BP meet up for Jacksonville.

I suggest we meet at the lobby Bar on Sunday 10/6 at 4.

Swing by and lets grab a drink and talk everthing Jax!

Looking to connect with old friends and make some new ones.  Feel free to reach out.

The problem is they are offering something they cannot deliver, none of us can.  Buy at market from the seller and resell at market, while making a profit.

It is a similar approach to the wholesale market, except the properties are not distressed and they claim to be buying at market.  Since there is not enough margin in the buy / sell they are playing games with the repairs.

I do not see how these ibuyers will make it trough a down turn.  The debt service it takes to buy and hold these properties is crazy.  While it is money from VC's and selling stock,  it is not a bottomless pool of money, investors will eventually flee if they cannot hold the margin.  They advertise, they are going to change the market and it is true, just not for the better.  It is introducing cheap money into the market that will artificially drive up housing costs.  The only saving grace is collectively they will never be large enough to move the needle nationally.  This is not to say they couldn't make a huge mess of a city or two.

If I look into my crystal ball, there will be more companies rushing into the market.  One or two players left after the shakeout and it will be the wholesale model.  I will buy your house immediately for a discounted price.

A better trade deal with China would be good.  The question is at what cost and for how long?  The adults in the government ,The Fed, are worried about this and how it will effect the economy going forward.  They have cut rates in spite of its early year forecast to raise rates by this point.   

Many markets are overheated and would actually benefit from less foreign money.  This would allow them to cool a bit.  Normalized stable growth should be the goal, not booms and busts.  

Should you buy or wait, a definite resounding without question... it depends.

I for one, am a net buyer.  I have continued to find deals that make sense and execute on my plan. 

Regrettably, it is going to rain again and I don't know when or how much.  I have an umbrella and I watch the forecast and the sky.  Ok, Enough with the analogy!  I think you get my point.

This is a LONG game and you need to plan accordingly.