All Forum Posts by: Chris Jackson

@Lior Reich - I have a contact - direct message me

Hi All. We have been investing in the Syracuse area for 10 years. We plan on entering the Rochester market within the next few months. 

I'll try to attend the FFREIA and Tri-County in the next few months. 

Maybe I will see some of you folks there. 

Hello all. I am an active investor in the Syracuse market. We have been investing in Syracuse for the last 9 years. Bought multifamily wholesaled flipped but mainly a buy and hold focus. 

Direct message me if you have any questions. 

@Account Closed  sweet thanks

Anybody have any luck with a second line on their cell phone?  (iphone preferably) 

Checking out these services 

https://www.line2.com/

https://www.godaddy.com/smartline/second-phone-num...

(godaddy service you can't text from the second line, so that one is out) 

We've started to assign and flip a few deals in addition to our buy and hold business. Our marketing is working well enough that we are have inadvertently added a wholesaling subunit to our business.

When you are talking to sellers in a local area and buyers for that matter, having a local number does help. With the volume we are doing I would see an increase in close ratios.

1 in 3 calls says "Oh you're not from the area?"  I can get past that objection pretty quickly but in sales pipelines its a good thing to remove barriers that are easy to remove.

I need to be able to text and call out with caller ID showing as my second line.

(I do a fair amount of texting after initial contact has been made to keep conversation going)

If anybody has had any luck let me know.  

I use google voice but not sure if there is a plugin app that does what I am looking to do.

Thanks in advance. 

@Jeremy Wirths direct message me. I have a recommendation. We are very active in the Syracuse market. Been in the market about 9 years. Picked up 30 SFRs in last 15 months. We also own multifamily in the market.

@Eric Anderson no probem. most people are not viewing it this way. Single Family Rentals with a Multifamily Lens. You heard it here first. :)   See below on SFRs like MFRs as it pertains to loans below.

@Craig Curelop  #2  is not the case if you have aligned yourself with the right banks. There are banks that will package up 1 to many SFRs under one blanket loan. The entity structure needs to be set up in a certain way like a holding company so that the holding company is the guarantor with its principals as the signors. The properties in each loan are securitized as collateral. 

Therefore you don't need one building to achieve the economies of scale of multiple income streams IE: multiple units in one building under one loan. You can do this with SFRs as well. Multiple streams of income from one loan, many SFRs under one loan.  Also if you have chosen your debt correctly there are no prepay penalties and you can sell off an individual property within the blanket loan of your blanketed group of SFRs.  It can be done. We are doing it. :)

@Casey Perkins   Before one can answer this question, single family vs multifamily , a new question needs to be asked, how much capital do you have to work with?  How big a multifamily could you get yourself into with the capital you have. How many SFRs could you buy with your capital?

When I hear the argument of SFR vs Multifamily one of the points that is always brought up as a negative of SFRs is, "but if tenant leaves you are 100% vacant" yeah that is true if you intended to buy only one SFR. But not if you buy 5.

As an overall we are seeing multifamily skyrocket because of inexpensive money and rising rents. Also its the investor flavor of the last few years. You can run an SFR portfolio with a multifamily lens.

There are many threads about SFR vs Multifamily. One common theme that I want to dispell that I repeatedly see is this statement. "If your SFR goes vacant you have 100% vacancy" Yes that is totally correct!.............. if you own. only. one. SFR.

So...... what if you own 30, 40, 50, 100 SFRs? Do you think the multi dudes/dudettes including us (who own multis as well as an SFR portfolio) sit around saying on a 50 unit building "oh my gosh one of our units went vacant, we are 100% vacant" So why would an SFR owner who owns more than 5 say that?

@Joshua D. if you are rocking decent returns, keep rocking the SFR party. Check your numbers on COCR but you don't have to do much math based on 30-40k all in and 1k+ rents.

@John Rutherford Contact local Federal Credit Unions that have an appetite for commercial loans. (not just commercial buildings per se - packages of singles would be considered commercial)

If you have good credit, some net worth, a bit of liquidity and experience I say go FCUs all day. 

No pre pay penalties, decent amortizations 20 to 25, good rates and 75 to 80 LTVs.

Plus you get to develop a relationship with them. Who do you think they call when they have a loan that not performing and they need it taken off their hands? Dude off the street or peeps they have relationships with?