All Forum Posts by: Chris Blackburn

Does anyone have a qualified ERTC group in the Pacific North West?

It all depends on your goals.  This is all a negotiating point and they are trying to anchor you to the new number.  Of course if it is a 1031 or strait investment and the new owners are hoping to just prevent the distruction of their capital via inflation.  The increased value and increased potenital rents may make their investment break even with the impact of inflation.

Dean,  we are looking at doing the same thing.  I think there are some amazing opportunities with using opportunity zones and crypto capital gains and keeping a portion in crypto.  (Bitcoin to be conservative)  (can I say that in the same sentence;)     I know there are a few companies doing it.  I think I may do a blog or podcast or youtube series of the whole event just to build a better understanding around a community. 

These are great points. I am looking down the throat of a $21M syndication build, with a 2 year window to get to HUD, this could get very lean. I will say that the other projects that I have built and sold over the last 4 years have crushed in price increase. Looking at building costs, material costs, and lack of labor- anything we build now will cost 10%-20% more every year for the same product. I do not see this slowing down, in fact, less apartments will be built as interest rates continue to rise. This will remove any competition. I am looking at the affordable housing option as the developer and GC as a stop-gap solution. Also supplies much-needed housing that will be crushed by increased rates.

I am in the process of a 112 unit new construction syndication.  Appfolio investments as the portal.  I like the idea behind what you are doing.  We typically are moving dirt before I go out for funding since it will get done with our without investors.  I like how your process lays out the details.  I will hit you on PM.  Thank you for sharing!

We are looking for a good company for our NGBS Green Certification company for our 3 story walk-up new construction apartments.

Does anyone have a great company that they like?   We are building in Oregon.  This has been our best resource so far.   https://www.homeinnovation.com...

We just secured a term sheet for 25% down, 30 year AM at 3.25% on a 9.7M project. (Absolute NNN at a 7cap) My banker is allowed to broker as well (Oregon area) so it gets pretty competitive, but the banks like it when he offers them the opportunity. Since he has already done 95% of the underwriting- and they know there is competition- he has been much more successful getting great terms. I like to call it Commercial Concierge Banking. My other banking experiences, when going from bank to bank have been less than positive. It almost feels like I am out trying to get a loan;( Ultimately, I am the customer and it is been a great experience when treated like one, I am pretty sure that since I am paying all the fees, points, environmental, appraisals- this puts me the position of "Customer" most banks do not realize this and instead treat you like they are doing you a favor for even letting you apply. (Not really that bad but certainly not excited that you are at the table). Having a banker in your court speaking to other banks and finding out what really is available- This has put our team at a whole new level reflected in amazing rates and huge savings.

Looking at buying this town for 680,000 gala  (or about $60,000)  it has 35 spaces to rent out.  Not sure what rent would be but I think it will appreciate well.  I assume I can rent out for about 600 gala a space.  So about $20,000 gala a month.

I do not think my expenses will be very high (maybe none like a NNN lease) I think the payback should be less than 300 days.

You can learn more about this space here and Gala games is not the only one with real estate for sale that is digital.

https://app.gala.games

If this is confusing- it should be at this stage, but this is an opportunity that you will wish you participated in.  Ultimately it will be like when the first URL's came out that you could buy.    I am looking at creating a space that helps define the digital opportunities that exist in the blockchain space.    

Please reach out if you are already in this space or let me know how you are currently investing in blockchain digital property.

I happen to be actively participating in the space Gala games plays in but am looking for other opportunities to invest in other projects.   

Any examples of this that you can share?  

Green certification.   NGBS 2020 Bronze Level Certification Support Services and Statement of Energy Design Intent (SEDI) Services.

New construction  

Would love to see what other people have done. We thought we had this covered with the HUD architect review but it looks like our pre-construction lender to HUD- did not know we wanted the green cert for interest and point savings.

We have 2 builds- 1 80% done and the second is on the development path with construction beginning in 4 months.  42 units for 1 and 40 for the other- 3 story walk-up.