All Forum Posts by: Victor Thompson

Join Zoom Meeting
https://us04web.zoom.us/j/9433577771
Meeting ID: 943 357 7771
Password: 485531

Join Zoom Meeting
https://us04web.zoom.us/j/9433577771
Meeting ID: 943 357 7771
Password: 485531

Hey all you cool cats and kittens! Hopefully you are tired of watching Netflix and ready to engage with other investors on our next virtual REIA Meetup! It is going down Thursday, May 7th at 5 PM.

We are lucky to have our good friend, and fellow investor, Dean Rappa joining us to discuss using Self-Directed Retirement Accounts to invest in Real Estate. Bank and Institutional money tightened up quite a bit in April so now is a great time to explore other financing sources. I know we are!

I hope you are all ready for a great May after a very challenging April - see you soon!

Join Zoom Meeting
https://us04web.zoom.us/j/9433577771
Meeting ID: 943 357 7771

Hi Dan, 

I am from Lompoc and currently out doing deals in GA and SC. Have you guys taken your meetings online? If so, is there anyway I can join in? 

Best, 

Vic

Hey Joseph, 

I am from Cali, Lompoc specifically, but out doing deals in GA and SC. Wanted to see if you guys have taken your meetings virtual. If so is there away I can join in?

Best, 

Vic

March 5th is the next REAI! See below for all the details.

Spotlight: Fanatical Seller Qualification

Last time we talked about how to assign a contract the topic spawned some great discussion. This time we are going to step back and focus on some major steps that have to take place prior to getting the contract: 1) Seller qualification 2) Property walkthrough 3) How to walk a seller through the contract.

5:30 - Networking Starts
6:00 - Speed Dating. Spend a few minutes talking to someone you do not know.
6:30 - Have/Wants. If you have a deal under contract that you want to pitch to the group please send to [email protected] prior to our meeting so we can put it in the deck. Make sure to include an asking price...duh!
6:45 - Main Speaker (~30 mins). Fanatical Seller Qualification
7:15 - Networking with other professionals and investors. Will have a sidebar for newbie investors that want to ask any and all questions.
8:30ish - End of Event

Reminders
*-Different location for event: One Press Pl Suite 201, Athens, GA 30601*
-April 2nd is the next meetup.

Spotlight: How to Assign a Contract

Once you get a contract the easy money is to assign the contract to another investor and charge a finders fee. The Runway team will run through a couple examples and answer all your questions.
5:30 - Networking Starts
6:00 - Speed Dating. Spend a few minutes talking to someone you do not know.
6:15 - Real Estate market update.
6:30 - Deal Review. If you have a deal under contract that you want to pitch to the group please send to [email protected] prior to our meeting so we can put it in the deck. Make sure to include an asking price...duh!
6:45 - Main Speaker (~30 mins). How to assign a contract
7:15 - Networking with other professionals and investors. Will have a sidebar for newbie investors that want to ask any and all questions.
8:30ish - End of Event

Reminders: Be on time and bring money if you want to eat and drink. March 5th is the next meetup.

Thanks for the shoutout @HieuBui!

Register for the event here: https://www.eventbrite.com/e/athens-real-estate-investment-2020-meetup-tickets-88529964507?aff=erelexpmlt

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Refreshments served! If you want to partake in the food and drink we ask that you bring along $8 to help us cover the cost.

This is one of our favorite days of the month and we look forward to hosting you!We invite all those who are action oriented and determined to achieve the life they desire through real estate. If you have not been to our meetings before, but have heard about them it is time to take action! If you have never been before check out the agenda below.

We want to focus more on deals this year and if you have one please send to [email protected] prior to our session. Please include: Price, ARV, repairs, and a general description. Would like to include a template, but for now I have an example below and we will improve as we go.

5:30 Networking Starts

6:15 Haves and Wants (introductions and Personal Pitch time) You have the opportunity to pitch any deals you have or what kind of deals or services you are looking for. If you do not have deals to share simply share what service you provide. Our group is rapidly growing so please keep these to no more than 1-2 minutes. 

6:45 Main Speaker (30 mins -1 hr)

7:30 Networking with other pros and investors

8:30ish - End of Event

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Contract available for assignment for 122 (vacant lot), 124, 126, and 128 Stallings Rd, Greenville, SC. All three units are mobile homes on city water, septic for sewage.

Please watch the overview video in the link provided...https://youtu.be/3yxNwQ0KFKc

I talk through our pre-purchase analysis for the property, as well as a few other particulars. Happy to answer any questions, but please view the video first.

NOTE: the majority of the repairs & updates included in the report are NOT necessary work. We asked our contractor to include all potential updates in order to get a full scope of the condition of the property. Based on the current condition, there is roughly $4-6k in repairs that should be addressed upon purchase.

Assignment Price = $150k / now $137,800
Cash Only, As-Is
EMD $5k
Close on or before 1/25/20

Current Rents = $2,100 / mo
124 Stallings Rd = $850 / lease end 8/18/20 / 3bd/2ba 1,500sft
126 Stallings Rd = $550 / month-to-month / 2bd/2ba 850sft
128 Stallings Rd = $750 / lease end 10/10/20 / 2bd/1ba 850sft
(122 Stallings Rd = vacant lot not set-up for or large enough for another unit)