All Forum Posts by: Christopher Kolasa

@Carrie Carlton from my understanding, the opportunity zone program has the intention revitalizing distressed areas by enticing private capital and investors to invest capital gains into these opportunity zones as a means of deferring capital gains tax or reduce their tax liability on the gain. This is more of a wealth preservation strategy, within the IRS code.

@Kyle Loganadan awesome man! Thank you. 

"Put the funky, cool Nashville with the cosmopolitan Nashville, and connect the two."

Sounds like an ambitious plan! 

@Curt Davis - Ok thank!

@Gerald Pitts Sounds good. Lenders will be called. Thanks for advice. Will research my debt-income ratio in depth.

@Jay Helms Thanks for the help, good to know the 43% mark DTI, this is on the income producing asset or does my W2 wages impact this value? The mastermind group was orchestrated through BiggerPockets, upon purchase of the 90 days of intention journal before the New Years, groups of 4 were set up, the price of the journal was worth the price alone, thanks @Brandon Turner, but the mastermind was a huge added bonus and worth 10 fold. We just had our first meeting via google hangouts, great group, amazing the progress made in just one meeting, motivation is sky high! How does your mastermind work?

Hey so I've been bogged down with my 9 to 5 and learning about real estate investing for a few years now, podcasts and books, networking, and now I am afraid I'm in that tough place of constant learning and no action! No self-pity necessary, just action remains. Easy. I've got my goals, I've joined a mastermind group for accountability, analyzing deals daily, now building my team, next step is make some offers and keep the ball rolling. Do what successful people do and you're bound to be successful, right?

Anyway, I am looking at small multi-families in Tennessee (out of state) and had a financing question, because I am looking to relocate, to a more expensive market such as in Colorado. I have saved up a decent amount of cash that should be enough to do both and was just curious on my financing options? If I purchase a 4-family with conventional financing, how does that affect buying a owner occupied home. Any considerations or strategies I should contemplate? THANKS.

Awesome Cody,

So you only had to put 20% down correct? Not 25%?

Also how did you find this deal?

Best of luck! 

Hey @Brian Levredge do you have any great real estate agents that you are able to refer? Also, in terms of property management, do you deal with small multi-family clients or larger scale?

Hey Lesley,

I am looking forward to following along further. Seems like your work is cut out for you, but I'm sure it will be successful! Best of luck.

Thanks @Brian Levredge, I was interested in Chattanooga some time ago and made a trip last year to explore and check out the neighborhoods and seems like you are reflecting a lot of similar sentiment to numerous other people I was able to speak with. How do you think that the market's proximity to Georgia affects the market compared to other Tennessee markets. Also, for someone out of state, interested in relocating, would networking and mailers be the most effective approach to finding a deal? Currently I am checking the MLS and have found several interesting properties in the past but did not have the confidence to follow through. Thanks for the knowledge!

Looking for my first deal..

Looked at a 3 family REO Homepath property in Middletown, Connecticut and there were two tenants still living there. This seems very odd as don't most banks evict tenants upon foreclosure? Tenants would likely need to be evicted for any work to be done on the units, they appear to be pack rats, there is a lot of junk that would need to be removed. Does this appear to be a situation to stay away from? There is a very high asking price and a ton of work would need to be done so I'm framing this as a hypothetical..

Possible to make a contingency to remove the tenants? How far can you negotiate down a Homepath home?

THANKS in advanced.

-Chris Kolasa

@Sal Morello that is awesome!! Both the bridge engineer and the multi purchases. Too bad the meet up wasn't this week! I think I will be out of state on the 18th. How did you find out about the new house that hit the market?