All Forum Posts by: Scott Johnson

Looking to connect with proponents, investors, organizations, and lenders who develop Blue Carbon Sequestration projects in the United States. I dove headlong into my education on the subject since it makes a great deal of sense to me. I'm currently learning about current legislation here in North Carolina and best practices in restoration and sequestration analysis.

• How long have you been in the business? 
• What projects have you done in the past?
• What Certification company certified your credits?
• What got you interested in Blue Carbon Projects?
• What resources did you find most helpful when starting out?

My goal is to begin developing these projects and to specialize in Blue Carbon lands as a broker. Capital obtained through these endeavors will be used to acquire lands and continue building our Blue Carbon Sequestration portfolio, possibly with some Green/White mixed in if the numbers work. Looking forward to connecting with like-minded individuals!

Awesome, @Vinay Kolluru! Yea, it's a great area. I just recorded a neighborhood breakdown last week that'll go live on our Pitt Home Buyers Youtube Channel sometime next week. 

@Aaron F., Kiavi is fantastic! Using them for a majority of our acquisitions. Their online loan platform is easy to navigate and they respond very quickly. Been working with Tyler recently, and have no complaints whatsoever. Highly recommend them! 

Investment Info:

Single-family residence wholesale investment in Farmville.

Purchase price: $27,000
Sale price: $41,000

The owner of Cupelo moved to Michigan with his wife and allowed an old coworker to rent this house. In December 2020, that renter called and told the owner that he needed to leave while the sheriffs were knocking at his door to arrest him for backed child support. We noted that this property had 1 acre of land and was in relatively good shape. We assigned this contract to one of our regular buyers in a couple of weeks!

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

There are a ton of investors looking for rural rental properties.

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

The owner reached out to us after looking at our website. We discussed what he needed to pay off his mortgage and how much he needed to make on it. We structured our offer from there and negotiated it to $27,000.

How did you finance this deal?

The buyer financed the deal.

How did you add value to the deal?

Provided a fast exit for the owner and a great rental for the buyer.

What was the outcome?

A win-win-win situation for eveyone involved.

Lessons learned? Challenges?

I learned how to navigate another county's GIS and noted some of the differences. This is when I learned how to study flood maps and do a deeper analysis of properties. Like Robert Kiyosaki says, real estate has little to do with what you "see". It's what you "don't see" that will make or break a deal.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No

Investment Info:

Single-family residence wholesale investment.

Purchase price: $16,500
Sale price: $27,000

This was a legacy lead that came back to us. We made our offer in 2019 and the seller declined it. A year later, she hunts us down at our local farmers market and asks if we still wanted the property! Her aunt had passed away and left this property to her. We got the property under contract and assigned that contract to one of our regular buyers. This is a buyer that we also assist with their rehabs so we can learn.

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

Wholesales is a great strategy to shore up capital for investments.

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

We'd called her FSBO sign originally and walked through in 2019. She declined our offer, hunted us down in 2020 and we consumated the deal.

How did you finance this deal?

Buyer financed

How did you add value to the deal?

No value was added aside from the wholesale itself

What was the outcome?

A successful contract assignment

Lessons learned? Challenges?

I learned that staying out in front of people and following up are critical. You never know when someone is going to change their mind!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No

Investment Info:

Townhouse buy & hold investment.

Purchase price: $84,500
Cash invested: $16,000

A personal friend of ours reached out and needed to sell this townhome. Their father had recently passed away and it was going through the probate process. Two things added a layer of complexity to this deal: 1) The property was still in the father's deceased wife's name (she'd left it to him but it never fully went through probate) and 2) It was going to be foreclosed on March 24th, 2021. We successfully closed on the property, changed the plumbing, and immediately rented it out.

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

It's located in a very good neighborhood and was in great shape from the beginning.

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

A personal friend reached out to me. They'd seen my videos on Social Media.

How did you finance this deal?

Kiavi Lending

How did you add value to the deal?

We were able to stop the foreclosure and navigate the difficult "double probate" process. We also drove 2.5 hours in one day to get all of the documents signed by the family members.

What was the outcome?

The foreclosure stopped and we have a great rental property!

Lessons learned? Challenges?

LET THE ATTORNEYS DO THE WORK. With this deal, the best thing we did was get the probate and closing attorney talking and on the same page. In ALL emails, I CCed both of them so they kept up to date on what was going on. This helped tremendously.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Gregory K James Attorney At Law is a fantastic closing attorney in Greenville NC. Highly recommended.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $154,500
Sale price: $168,000

A client reached out to us because they needed to move to Kentucky because they'd gotten a new job. After discussing their options, they opted for a cash purchase. We sold that contract to an investor on our list who will be rehabbing and selling it on the MLS.

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

The school system this house is located in is the best in Pitt County.

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

Our client reached out to us on our website after their friend saw us on Facebook and recommended that they reach out.

How did you finance this deal?

The buyer provided all of their own financing.

How did you add value to the deal?

We were able to close quickly so our client could move and start their new career. We also provided a great rehab for one of our consistent buyers.

What was the outcome?

A win-win-win situation.

Lessons learned? Challenges?

Unfortunately, there were very few challenges with this deal. I had jury duty the next Monday, so that's as challenging as it got.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not on this deal.

Make sure to include any restrictions like that in the lease. Always a good idea to consult your attorney prior to execution of a newly altered lease.

As a Home Buyer in Greenville, NC, my biggest accomplishment for 2021 was getting my broker license. Cash offers aren't for everyone and we found that we were losing deals because we didn't have that capability. Now we're primed and ready to move into 2022 full steam!

Awesome! Glad to hear it! Yea, I like to post "weed out" material in my posts. Like how much total they'll need for a deposit and first month's rent and the highest rent possible for that market (which can be negotiated of course). Also restrictions on the number of cars and actively towing cars that don't have tags or don't operate.

I've used SmartMove twice before and they're fantastic. Even able to add my property manager on to the account so she can see the screening. 

Now I just have my manager do all of the work using her systems, but I highly recommend SmartMove.