All Forum Posts by: Jason James

@Raphael Collazo Not sure if we have a chance or not but it sure would be pretty awesome if they picked Louisville. I will say we have great hard working folks in Louisville now building cars and trucks so in my opinion they should strongly consider it. Hell I might just give Elon a call and see what I can do... 

@Sean Williams Great summary! Proves that this game is a team sport! Not much for me to add other than to tell folks out there to find their fuel. You can have the fire but without fuel your fire will fade! Everyone can add value in some way regardless of your experience, age or anything else. Take action! Any action!

2019 bye! 2020 watch out! We just getting started......

@Jonathan Farber I have not been able to hammer down a GC that works to my standards and within budget. I have switched gears and I now GC my projects using subs that I have used for years. Seems to be working well. I will say when the market turns and it will the GC's will start to be more realistic with their pricing. Right now the getting is good and they can name their price. I do not blame them I just can't afford their rates for my projects. Best of luck to you. 

@Brad Noe Congrats sir...Looks great!!  As we both know you in this business you always learn. Learning is growing! Wrapping up a couple now that I learned a lesson on and I have been doing this for many many years. Will post those as they are completed with details.  

@Robbie Eddington Thanks for the kind words. I self manage my properties. That said I am looking into property management in the near future. 

Investment Info:

Single-family residence buy & hold investment in Louisville.

Purchase price: $50,000
Cash invested: $45,000

All new!

4 bedroom
1 and 1/2 bath
1 car attached garage

ARV $145,000 with total invested of $95,000

Loan
25 year am
5 year lock
4.65%

Total payment, tax and ins roughly $675.00
Rent $1250.00
Cashflow (not including PM, vacancy or capx) $575.00

If you can't find deals today make them!

What made you interested in investing in this type of deal?

Equity and cashflow

How did you find this deal and how did you negotiate it?

I got this deal from an agent whom I have bought other deals from . Bought this one in a package deal. Win win for all parties!

How did you finance this deal?

Purchase cash
Construction loan to rehab
Refi to perm loan with $0 out of pocket

How did you add value to the deal?

Full gut rehab

What was the outcome?

Kept as a buy and hold

Lessons learned? Challenges?

As always make sure you know what you are buying! Don't assume things are good like floor joist and so on. DO INSPECTIONS!

Investment Info:

Single-family residence buy & hold investment in Louisville.

Purchase price: $50,000
Cash invested: $45,000

I thought I would post this to show folks you can still do fairly well with buy and hold in good areas of Louisville Ky. I bought this house in AS-IS condition and it was very very rough! It needed everything! I mean everything! The floor joist were rotted, all drywall was either damaged or falling apart. In short it was a complete gut job! I was going to flip this property but after running the numbers I feel this one is a good rental to keep for a while. Since it is all new there should be very little capx and the neighborhood is really good as well. Just made sense to keep it.

All new!

4 bedroom
1 and 1/2 bath
1 car attached garage

ARV $145,000 with total invested of $95,000

Loan
25 year am
5 year lock
4.65%

Total payment, tax and ins roughly $675.00
Rent $1250.00
Cashflow (not including PM, vacancy or capx) $575.00

I paid cash for the house. I then got a construction loan to rehab the house and did a refi to perm loan for a total of $0 out of pocket on this deal. I could have actually got a little cash out but I prefer to have the equity.

If you can't find deals today make them!

Little before and after

What made you interested in investing in this type of deal?

Equity and cashflow

How did you find this deal and how did you negotiate it?

I got this deal from an agent whom I have bought other deals from . Bought this one in a package deal. Win win for all parties!

How did you finance this deal?

Purchase cash
Construction loan to rehab
Refi to perm loan with $0 out of pocket

How did you add value to the deal?

Full gut rehab

What was the outcome?

Kept as a buy and hold

Lessons learned? Challenges?

As always make sure you know what you are buying! Don't assume things are good like floor joist and so on. DO INSPECTIONS!

Investment Info:

Single-family residence buy & hold investment in Louisville.

Purchase price: $50,000
Cash invested: $45,000

I thought I would post this to show folks you can still do fairly well with buy and hold in good areas of Louisville Ky. I bought this house in AS-IS condition and it was very very rough! It needed everything! I mean everything! The floor joist were rotted, all drywall was either damaged or falling apart. In short it was a complete gut job! I was going to flip this property but after running the numbers I feel this one is a good rental to keep for a while. Since it is all new there should be very little capx and the neighborhood is really good as well. Just made sense to keep it.

All new!

4 bedroom
1 and 1/2 bath
1 car attached garage

ARV $145,000 with total invested of $95,000

Loan
25 year am
5 year lock
4.65%

Total payment, tax and ins roughly $675.00
Rent $1250.00
Cashflow (not including PM, vacancy or capx) $575.00

I paid cash for the house. I then got a construction loan to rehab the house and did a refi to perm loan for a total of $0 out of pocket on this deal. I could have actually got a little cash out but I prefer to have the equity.

If you can't find deals today make them!

Little before and after

What made you interested in investing in this type of deal?

Equity and cashflow

How did you find this deal and how did you negotiate it?

I got this deal from an agent whom I have bought other deals from . Bought this one in a package deal. Win win for all parties!

How did you finance this deal?

Purchase cash
Construction loan to rehab
Refi to perm loan with $0 out of pocket

How did you add value to the deal?

Full gut rehab

What was the outcome?

Kept as a buy and hold

Lessons learned? Challenges?

As always make sure you know what you are buying! Don't assume things are good like floor joist and so on. DO INSPECTIONS!

@Mindy Jensen Windows 10 and Google Chrome.

@J. Clark Baird The process is slow for sure. Coffee sounds good just message me and we can dial in a day and time.