All Forum Posts by: Jeremy Namen

John S. Im going to look into this, my main business is a small rehab construction co. I have a crew of guys that will need to eat, theyre pretty tough so at least every other day. So i intially through NPO out the window, but i dont think i know enough about it, and/or how they could work together.

Sam Sagor I plan to definitely keep you updated, Ive thought NPO, but i need more info on this. You seem knowledgeable in this, is this something youve had experience with?

John S. You are right, you do provide balance to the post, but i see your balance in a different way. To me you are like the devil on my shoulder telling me to let the "others" do the dirty! No good deeds, only sound investments! haha.. despite that i am grateful for your perspective, I am aware of much of what you are talking about, and trust me i dont plan on dedicating everything i have to change the neighborhood while keeping the same residents. Again its a HUGE project that im planning not a couple houses to be handed to problem citizens.

Wow - Im so happy to have received so many comments, insights, warnings and encouragements!
Joseph M Thanks for the reference on oakland, i plan to read that tonight, and Jake Kucheck, you are exactly right, while I 100% believe that it is a sound investment, I think im more driven by the fact that i have an opportunity to make an impact and leave my footprint. I also plan to read the NBA article tonight, Thanks!

Joel
The drug dealers and criminals will go away when they have no options. Its not like what the movies portray, drug dealers and criminals are not very smart for the most part (I said most because there are some!), and most are what they are because they are lazy, therefore will move on, with their tails between their legs, when they are challenged. You are correct that it will take blocks at a time and much neighborhood involvement to make this work, and that is the plan that I am putting together.

Its hard to find "good" contractors, and thats part of the problem of this area... a lot of mickey mouse patch and caulk jobs! if i could find a good contractor and tenant it would be a blessing. I do look though when i am renting. Chris i really like your website and company structure- You seem to have a pretty good thing going!

BTW @john if my assessment goes up and its warranted...i wont be too upset!

John I have been working on a business plan to present to anyone i can. I realize this is no small project and will take years. Ive got a few of those. As far as your stated concern of myself and others "The only trite text I see in this thread is a strange love affair people are having with very low income and warzone areas".... I would say its the area that i feel i could impact the most and im excited about that, so i guess my emotion is involved...Im not in love with the area im concentrating on, but you could say im in love with its potential. There are many factors in this love: 1. I have 5 properties (4rent and res) in this area already 2. the houses are very cheap (10-40k), I dont need huge down payments. 3. the area is neglected and depressed, but by no means a war zone. I can walk to starbucks grocery, parks, etc at any given hour. 4.The area is rich in history. I could go on and I do in my business plan... But regardless, someone taking an interest and putting some money and sweat in a neighborhood could never hurt anything, and if i were an investor who chose to let all the other "idiots" do the dirty work and possibly get burned, Id probably just let them, because its only helping the big picture. So i thank you for your warnings! Ill post info soon i would love to continue getting encouragement as well as warnings, both are
very useful.
@Mark i really appreciate your naivety and lack of pure investment soundness :p
@Chris we have some neighborhood organizations but i think theyve been exhausted and havent really done much for years- they need to be restructured, revamped..We a huge church community, a large beautiful motherhouse for the sisters of josphine of carondelet- here is a link to their site. We have good boundaries too.. miss river to the east highway to the north and west and stable neighborhood with development happening to the south. im interested in the Actual number of house are in the area you worked- you said 90% but of what number?
Off to work and hope to see more comments later!

@John you are exactly why i want to do what im doing- and that is not a shot at you because you are actually the majority in your thinking. By no means am i trying to be a hero, but your thinking has created a challenge and opportunity that doesnt outweigh the reward- Ive always been a risk taker, not for some "thrilling feeling", but because i know that no matter what happens, absolutely anything, EVERYTHING, EVERYTHING will be OK. I promise. The potential in this area in my eyes is unreal and the fear is nonexistent, maybe replaced with stupidity in your eyes, but thats irrelevant if im so naive to see it. This is what people call a vision, and this is what inspires great things. So while i thank you for your intentions im going to ignore your advice and do something worthwhile.
@Kyle thats awesome!

If a residential loan can be made on it, i would move into one of the apartments as a primary residence. The down payment on this would be considerably less. I have not spoke to anyone about owner financing yet- There is a listing agent and im not sure if that will make it more difficult. Id definitely take the lease with option but i have the feeling that the seller just want to sell.