All Forum Posts by: Jacob St. Martin

Hello Clareen,

I am an investor and also recently got my license and am based out of Charlottesville. I'd love to connect! There is also a small local Meetup that meets once a month. Feel free to reach out for details

Hello Tim,

I have no experience with California or that specific code but I can tell you that anywhere you try to add a unit it is going to need to fire separated through any means that the fire could spread. 

The big downside of seller financing is that you can get way better returns elsewhere. If you just sold the property after building equity then put that money in the S&P 500 you make way more money. Especially if you take that money and reinvest it in another property you are way better off. 

Hello, 

I am selling my tickets for BPCON2024. I have 2 tickets for a SUPERIOR DELUXE GARDEN VIEW - (2) DOUBLE BEDS room with an additional day added on. I am open to just selling one as well, the person I was going with backed out but it would be a shared room if only 1 ticket was sold. Selling them at a discount for $3,700 total. 

PM me if you are interested

Honestly, long term investor loans and DSCR loan rates aren't really any better than that right now. Most hard money you get these days is 12% interest. I wouldn't really worry about it as long as there isn't a balloon. But it you really want new financing you should look into either a standard fannie/freddie investor loan or a DSCR loan depending on your situation

Hello Seth, 

It sounds like you are in a good position here. This is scenario that I think could go either way. From the way that you worded your post, it sounds like you are not looking to spend a lot of time on your real estate projects. If you are then I'd say definitely sell, otherwise the rest of this post is more applicable. 

I live and invest in Charlottesville and I can tell you that the market has basically ground to a halt. Prices aren't coming down, but there are also hardly any buyers, and inventory is very low. If you sold you may have to drop your price more than you might want to. However, getting returns that match the S&P in real estate is not exciting at all. Additionally, townhomes appreciate much slower than detached single family homes tend to.

My personal advice would be to sell this property and then 1031 either into a better property near you that is low maintenance, or (probably better for you) invest the capital into a syndication or partnering with an active investor where you should get returns better than the stock market. 

If you want to discuss that option more in depth feel free to reach out. I know some great syndicators and I personally partner with investors on deals and typically get them returns in the 15-25% range depending on the type of deal. 

Albemarle county tends to have pretty strict regulations when it comes to zoning and building. If you are an owner occupant my recommendation would be to build an adu and rent it on Airbnb but you can only Airbnb in Albemarle if you are an owner occupant so otherwise I would do something else

Hello Kristine, 

If you heard the son talking about living there then I would say that to them. If they insist that he won't be living there I wouldn't rent to them. If they are going to lie about something like this that has no financial consequence for them they are going to lie about other things. 

Feel free to reach out if you have any other questions!

Hello Avani, 

I imagine that there is demand here. I think the tough part about targeting the film industry directly is that in order to consistently pull them you will probably need to get in touch with someone in that industry and pitch it to them. I imagine this will be a difficult connection to make. The bright side is that is Atlanta is a large enough city that there is certainly demand for MTRs. You could start with targeting travel nurses and other traveling professionals while you try to work your way into the film crowd. 

Hello Jerome, 

If you buy a BP pro membership you get free access to rentredi, a property management software that does have the features you seem to be looking for. It isn't perfect but it is pretty good and it alone makes the BP pro membership worth it.