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All Forum Posts by: Jaycee Greene

Jaycee Greene has started 1 posts and replied 1013 times.

Post: Building my network

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 1,059
  • Votes 227
Quote from @Michael Goddard:

I know the area and have already looked at this property. Crime rate is high in this neighborhood. I'm trying to stay on the west side of the river. Less crime. And I'm shopping on preforeclosures right now. These foreclosures are too high for the price to fix up. I'm trying to bail someone out. Basically wholesaling to myself with my first purchase. 


Got it. Do you have your financing in place?

Post: Building my network

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 1,059
  • Votes 227
Quote from @Michael Goddard:
Quote from @Jaycee Greene:
Quote from @Michael Goddard:
Quote from @Jaycee Greene:
Quote from @Michael Goddard:

Trying to get in touch with investors in my area. I am new and in my beginning stages.

Hey @Michael Goddard, welcome to the BP Forum! Are you wanting to wholesale or do the actual developing as a General Partner?


 As of right now I am learning the ropes. Not trying to jump into doing anything too quickly. I am looking into and learning both. I have allot to offer as far as being a general partner but I also might be doing a little wholesaling in the meantime while I learn more. 

@Michael Goddard Do you have a certain type of property (SF, 2-4 MF, 5+ MF) that interests you the most? Or perhaps a certain area of Chicago?


 I am staying in will county for now. And since I am beginning I am looking for single family. Currently I am thinking about trying to collect some preforeclosures and fix and rent. And maybe wholesale a few. But I'm looking for the cheapest option to acquire for now and then work my way up to multifamily. But yes long term I am interested in buy and hold single and multifamily. 

@Michael Goddard Not a bad strategy. Are you looking to house hack on the fix & rent? What about something like this: https://www.realtor.com/realestateandhomes-detail/1328-Ridge...?

Post: Building my network

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 1,059
  • Votes 227
Quote from @Michael Goddard:
Quote from @Jaycee Greene:
Quote from @Michael Goddard:

Trying to get in touch with investors in my area. I am new and in my beginning stages.

Hey @Michael Goddard, welcome to the BP Forum! Are you wanting to wholesale or do the actual developing as a General Partner?


 As of right now I am learning the ropes. Not trying to jump into doing anything too quickly. I am looking into and learning both. I have allot to offer as far as being a general partner but I also might be doing a little wholesaling in the meantime while I learn more. 

@Michael Goddard Do you have a certain type of property (SF, 2-4 MF, 5+ MF) that interests you the most? Or perhaps a certain area of Chicago?

Post: Building my network

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 1,059
  • Votes 227
Quote from @Michael Goddard:

Trying to get in touch with investors in my area. I am new and in my beginning stages.

Hey @Michael Goddard, welcome to the BP Forum! Are you wanting to wholesale or do the actual developing as a General Partner?

Post: accountability partner/ group

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 1,059
  • Votes 227
Quote from @Jeff Moore:

philly and south jersey

@Jeff Moore Are you looking to do syndications or take on investors (if you haven't already)?

Post: Investment Property Refinance - New York 100k Value

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 1,059
  • Votes 227
Quote from @Jamie O'Connell:
Quote from @Jaycee Greene:

Got it, @Jamie O'Connell. With those kinds of rents ($5,800 between the 2), even with a 9% cap rate, in my opinion those properties should collectively appraise for nearly $500k. What am I missing?


 Look up Elmira NY hahaha. it is a very poor town. That is the problem with the appraisals. For every 1 property that has sold in last 3 months that is a match for my prop and sometimes on the same street, theres about 5 that sell for half the value. It is best matched with like Cleveland, Baltimore etc. Except much smaller obviously. 

@Jamie O'Connell I already did and noticed the comps ;-) But a true investment property appraisal should be mostly based on the income approach. I might suggest getting your own appraisal where you select the appraiser that knows your situation and you can talk to and discuss their approach. Keep in mind, such an appraisal may not be able to be used by your lender, but perhaps you can request an appraiser with investment property experience (wherever they may be).

Post: To HELOC or Not To HELOC

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 1,059
  • Votes 227

Hey @Jay Papasan! I've seen this same reply from you in a couple other posts. This type of self-promotion is only allowed within the Classifieds section of the Forum. I'd hate for the BP admin (@Jonathan Greene) to lock your account as you may have valuable information to share with novice investors...this just isn't the right place to do it.

Now, @Mario Morales, what price range are you targeting for the new property?

Post: Lenders in Okc for new investors

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 1,059
  • Votes 227

@Makayla McDonald I would actually suggest you connect with another BP user in OKC, @Ryan Johnston. He's got a property he was thinking about selling, but I suspect he'd be able to give you much better "local" knowledge than me.

Post: Commercial Real Estate Developer

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 1,059
  • Votes 227
Quote from @ROBERT JOHNSON:

My Niche is a private Jet Ski storage community 

I’m leaning towards each unit being 13’ wide with a 12’ door opening x 25’ deep.

72 Total units on the property renting at 3.00 per sq foot with a 6-12 month lease.

Each unit will have power so you can keep your battery tender

Other amenities being:

Wash, rinse, and flush area

Boat ramp (wide enough for two vehicles side by side) with a dock on each side to tie up too.

Property fenced in with gate code

Fuel for our ski’s 93 and non ethanol fuel (????) I figured if rental companies can keep gas, I can too. However rental companies fuel their own skis. I would have to charge for fuel but would not over charge for gas. Probably just the average price in the area per gallon..

Ice vending


Got it. So this is a boat storage project, rather than housing. Personally, I've done RV and self storage financial models, so a boat storage one would be pretty much the same. However, I would suggest posting this under a different category to get more responses.

Post: Investment Property Refinance - New York 100k Value

Jaycee Greene
Pro Member
Posted
  • Real Estate Consultant
  • St. Louis MSA
  • Posts 1,059
  • Votes 227

Got it, @Jamie O'Connell. With those kinds of rents ($5,800 between the 2), even with a 9% cap rate, in my opinion those properties should collectively appraise for nearly $500k. What am I missing?