All Forum Posts by: Hunter Jones

I was at the event as well and felt it was far from a pitch fest. They may have spent 15 minutes at most letting people know they offered mentorship but I didn't feel it was much of a pitch.

1 Vote

@Juan Arroyo hi Juan, I’m in Knoxville nearby. In TN legally you just have to give 30 day notice to vacate. You don’t have to give any reason at all. In practice it’s typically better to give more than 30 days cause it’s hard to move in just 30 days sometimes. I also like to sometimes give a reason such as renovations. Just make sure you aren’t getting rid of them for an illegal reason such as protected class.

You don’t need a special form. Just make sure it says notice to vacate on it and the data it needs to be vacated by.

0 Votes

This will be a great event for any real estate investor in Knoxville to learn more about multi family investing as well as network with other investors.

1 Vote

We use Nick Alaniz with Alanco Incorporated for everything we do. He's been great. He's really quick on his turnarounds.

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Hi @Brian Graham I am an investor in Knoxville as well. Knoxville is a great city to invest in with many different diverse areas. Which area are you looking to invest in?

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Yes it's not that common in my market for 100% of earnest money to go hard until you reach the 8 figure level which we aren't playing in yet. by having a portion of ours go hard at the end of due diligence it put more credibility on us as buyers.

Originally posted by @Theo Hicks:

@Hunter Jones I like the earnest deposit strategy. Rather than 100% go hard day one, have a portion go hard once you're almost out of the woods.

1 Vote

@Scott Morongell Thank You! Biggest unknown we came across was finding out the roofs were in bad shape the day before due diligence ended. We were able to play it to our advantage though and get a sizable credit from the seller to compensate for the issue.

Biggest learning experience from the whole process is to start everything as early as possible. We have done many smaller deals and figured this one would be similar but there was more moving parts. On the next one we will immediately schedule inspectors, get multiple quotes, analyze all the documents, etc. I wouldn't say we waited till the last minute on everything for this deal, but things just took longer than we were used to so they should have been started earlier.

Bonus learning experience: Always network with lenders. Never rely on one lender to finance a deal because it could fall through. We made that mistake on this deal and realized the terms we were quoted were not that competitive. We were able to find a different bank to finance the property that was hungry for the loan and came to us with great terms.

Originally posted by @Scott Morongell:

@Hunter Jones congrats! What was your biggest learning experience in the process or unknown you came across?

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@Theo Hicks Thank you! There were a few offers on the table for the seller to choose from. I believe what set us a part was offering above asking price, putting up $50K earnest money, and having 20% of it go hard after Due Diligence ended. In the end we had to renegotiate due to the roofs being in worse shape than expected so technically we were able to purchase the property for less than asking when it was all said and done.

Originally posted by @Theo Hicks:

Hi Hunter,

Congrats on the deal!

What specifically was it about your offer that set you apart?

1 Vote

@Craig Sloan You're Welcome. Happy to give any advice I can.

Originally posted by @Craig Sloan:

@Hunter Jones

Congrats and thanks for sharing your experience. I am just starting to investigate syndication and appreciate the info.

0 Votes

Thanks!

Originally posted by @Account Closed:

@Hunter Jones

Congrats!

Dino

0 Votes

All Forum Posts by: Hunter Jones

Hunter Jones has started 1 posts and replied 11 times.

Post: Jake and Gino Event?

Post: Not offering a lease renewal. How should I do it?

Post: Multi-Family Investing Meetup

Post: Home Inspector for Real Estate Purchase

Post: New Member in West Knoxville TN

Post: 35 Unit Apartment Syndication

Post: 35 Unit Apartment Syndication

Post: 35 Unit Apartment Syndication

Post: 35 Unit Apartment Syndication

Post: 35 Unit Apartment Syndication