All Forum Posts by: Garnett Freeman II

@Jason this article is addressing the decline in a Muncie, Bloomington and Terre Haute (Indiana college towns). https://www.tribstar.com/news/... It questions when the census was done i.e right after covid and students sent home. However the University has drastically reduced enrollment from something like 15k 2015 to like 8k. Positives - they just built an expensive (relatively) convention center, getting a 240million dollar casino and have job commitments and dollars coming in from steel, food processing, manufacturing, life science, plus a large hospital and new medical centers. Ross Hulman is the #1 engeneering school of somekind of ranking each year ect. and most of all you can see the hipsters microbrew and coffee shops popping up. I think its a mixed bag but has potential...Seems some stale minds in gov and commerce though. Local government touts opening a big prison as a economic win while I see a grand total of 1 convention booked over a year away at the "convention center" .. why not hold a big jobs/engeneering fair for free promote Rose Hulman or a nursing expo for hospital/ISU... ring up Grate Dane or Steel dynamics and tell them there tax abatment will pass if they book the company convention in TH! show the city there tax dollars actually work.. Sorry I digress, late night.. That being said I saw enough positive for my small small portfolio to purchase 10 rentals in the Thompson Park / Farrington Grove area. Cash flows are good, renters seem plentiful, homes are comparatively cheap and low rent to own @31% which I feel you want if you are going into extended inflation in a town with lower income jobs but good employment numbers and I like the look of town:) haha very very long post and my first!.. wonder if anyone will get to the end of it:)-

Hi Wes. I'm currently doing some due diligence on Terre Haute. Thinking of expanding there in Q2 or Q3 of '23. Any contacts/resources/insights you can share (agents, contractors, inspectors, etc) are greatly appreciated!

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Indianapolis, Indiana

Hello All!

Anyone have experience syndicating SFR portfolios? Obviously, there's plenty of material and literature on Multifamily syndications, but I'm looking to gain insight on the key differences. Any and all insight provided is greatly appreciated.

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What are some of the best zip codes/neighborhoods in Indianapolis for investment?

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Originally posted by @Caroline Gerardo:

Why does Seller want to sell the LLC that no buyer wants the liability for his accounting or legal problems? This plan does not avoid capital gains or keep his identity secret.

I thought maybe he preferred the tax benefits that selling the llc offered (?). I'm no tax expert, but I figured as long as I can still assign the deal to an end buyer, it didn't bother me either way. So, in buying the properties with LLC as the seller, would it be a regular real estate transaction with a title co closing?

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I have an LOI on a portfolio of properties that are held by seller in an LLC. Seller wants to sell the LLC to end buyer instead of having a normal close on the properties. I'm looking to assign the contract to an end buyer. How?

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Originally posted by @Matt Bell:

@Garnett Freeman II

We write our offers with just the street address and legal description is added later as part of closing documents.

Thanks!

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Any investors experienced in writing offers in Montgomery, AL? Specifically, what is used as the legal description in that market? Thanks.

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If you aren't already, you should be using propstream to find cash buyers who have bought in the same area of your property recently. Preferably, cash buyers who own more than a couple of properties, which propstream can tell you. Full disclosure, it will be more difficult than usual because your property is on the Gulf and it is Mississippi. But there is always a buyer. May just have to get creative Manito. I am based in Dallas-Fort Worth and do deals in several markets in the Midwest and Southeast monthly. It is doable. Good luck.

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Originally posted by @Lee Nugent:

@Garnett Freeman II I’m in the Shreveport market and I know a number of Title companies that act as closing agents for other title companies, and they could also do mail off packets as well. If any of that could help just reach out!

Thanks for the reply. I don't think that would work, but I will keep it in mind for the next deal in that market. Seller was just nervous and would like to do a face to face closing, but I am not going to Shreveport,lol!

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Any DFW-area investors know of any local Title Co's that close deals across state lines, specifically Louisiana?

Have a property under contract in Shreveport. Sellers is actually here in DFW, but is nervous about a remote closing. My solution was to suggest we do a face to face closing if it made him more comfortable. I guess that was a great time to pull the covid card,lol!

All replies welcomed and appreciated.

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All Forum Posts by: Garnett Freeman II

Garnett Freeman II has started 8 posts and replied 18 times.

Post: Terre Haute Market Population Is Decreasing

Post: Syndication of Single Family Rental Portfolios

Post: First Time Investor

Post: Wholesaling an LLC to End Buyer

Post: Wholesaling an LLC to End Buyer

Post: Montgomery, AL Legal Descriptions

Post: Montgomery, AL Legal Descriptions

Post: I got my 1st virtual wholesale contract now what?😰

Post: DFW Area Title Co.'s that can close in Shreveport, LA

Post: DFW Area Title Co.'s that can close in Shreveport, LA