All Forum Posts by: Jeff Smith

Join Scott Carson and the Lubbock REIA on January 26th from 6 to 9 pm at the new Arbor Hotel Conference Center located at 6401 62nd St. (Just south of Marsha Sharp and Milwaukee) as he presents "The Three F's of Real Estate Note Investing. The Find, Fund and Flip!"

THIS Event is FREE
The Information is PRICELESS

Scott Carson is the Founder and CEO of We Close Notes from Austin, Texas www.weclosenotes.com Scott Carson is also a featured speaker and educator at dozen's of investment clubs and real estate workshops across the country. Click on his social media icons to connect with Scott Carson on LinkedIn, YouTube, Twitter or Facebook.

Beverages and Appetizers will be provided.

The Mission of the Lubbock REIA is to provide its members the Networking, Support, Information and Education Opportunities that will further the members ability to successfully invest in real estate. www.lubbockreia.com
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This Event has been sponsored by                                                                              Robert Nebb and the Law Offices of Michael H. Carper.                                                      Robert most likely will be attending and have the opportunity to be presented and let the attendees know of his services. Which we encourage.

This is one Real Estate Event you wont want to miss!
See you there!

Hello all, Thanks for the intro @Stetson Hector 

I am a local wholesaler, investor, and novice ice fisherman in the resent winters here in Lubbock (lol) I sent you a friend request @Michael Fortier so we can connect here. I also am the President of the @LubbockREIA (Twitter and Periscope handle) so please visit our site and connect with us. (Anyone who is interested) As far as your question goes... It all depends on what your goals are. What do you want to accomplish with real estate?

I would take the lowest 3 to 5 sold comps and total the sale prices then average them to get a total. Then take the sq ft of those and average them. Then divide to get average per sq ft price. Then multiply into the sq ft of the property you want to buy. That will give you a fair market value and then back out your repairs and your profit margins and any other expenses to arrive at your MAO. Just remember when your dealing with small units like this if its a 2 unit that your vacancy rate goes to 50% if you lose one tenant. 25% if it's a 4 unit. So running your numbers by the income can be a little tricky.

I would take the lowest 3 to 5 sold comps and total the sale prices then average them to get a total. Then take the sq ft of those and average them. Then divide to get average per sq ft price. Then multiply into the sq ft of the property you want to buy. That will give you a fair market value and then back out your repairs and your profit margins and any other expenses to arrive at your MAO.

I totally agree with you Bob, I just have a unique case I was working on and am trying to see if there might be any value in this direction.

Does anyone know if Chase has a non performing note department? If so, whats the best way to reach them? Ive been passed on to several departments just to end up with no results all day today. 

Thanks

@Nathan Martinez @Steven Myers @Gary Evans @Nick Baird

Hello everyone,

As you can probably tell, I don't log in to BP very often. But to answer everyone's questions YES we still have these meetings. Please connect with use at our website lubbockreia.com and sign up to receive our emails to stay updated on each meeting.

Jeff

Hi Robert, 

I'm glad to know you. Quite a bit of a culture shock from San Diego huh? I'm originally from Fresno myself. 

Lets get you connected with the Lubbock REIA members. If you havent already visit or site and sign up. I'll also add you to my buyers list.

@Tyler Flagg @Scott R. @Blake C. @Greg H. @Joe Fairless @Kyle Wilkison My name is Jeff Smith, I am from Lubbock and I am the President of the Lubbock REIA. Get connected with us at LubbockREIA.com and find Lubbock REIA on facebook. I am also doing deals in the Amarillo, Midland and Odessa markets as well. I wholesale property in all these cities and have a good reputation for bringing solid deals with lots of profit potentials to my cash buyers. I also fix and flip, and other creative real estate solutions. I'd be happy to add any of you to my email list. We also like to partner with private money lenders if your interested in great ROI's. #JoeFairless I love your podcast man!

Hello everyone,

As you can probably tell, I don't log in to BP very often. But to answer everyone's questions YES we still have these meetings. Please connect with use at our website lubbockreia.com and sign up to receive our emails to stay updated on each meeting. 

Jeff