All Forum Posts by: Jackson Carr

Hi all,

Question out of left field.

Can I buy/sell ground rights much like air rights? I don’t think I mean mineral rights either. I am not necessarily interested in the composition of the soil but rather owning the land beneath someone.

The question is extending from the idea that maybe humans don’t build up in the future but build down. Could someone acquire a significant amount of that land cheaply?

Thank you for entertaining my crazy idea of the day.

Jack

@Steve Morris I fully agree and it is why I send them: Timeline of when I am looking to buy, exact description of what I am looking for and the cash flow needed, and proof of funds to show I have the capital waiting to deploy.

Question: When you send them info, do you reach out personally with deals that meet criteria or do you just sign them up for automated MLS listings?

@Bill Schrimpf Didn't the NAR ban pocket listings? I agree though, and that is how I purchased some of my best deals in Napa.

RE Agents!! What the heck!

Maybe its the technology that is making working with an agent feel so much less personal, but I hate it. When I try to find deals in an out of state market I feel like I get put on these automated MLS emails to just receive endless terrible deals forever.

I have worked with AMAZING agents in Napa, SF, and Reno whom have all helped me to find great deals across the board, but the minute I step out of state I keep running into this issue. 

I send them proof of funds, a timeline, and follow up with a detailed description of what I am looking for. 

What am I missing? Out of state investors, is this just how it is? 

Jack

@Mike Kirby

Location. I have a front/back duplex. Is one closer to the road? Cars that drive kick up dust and would coat one unit while the other could go months without a change.

Good luck

@Tyler Wisner

Depends on how much the LLC costs in your area? If it's cheap then do it! In CA it is 800/year so I would said wait until you have 10 units.

If it was 50-100 bucks, I would do it.

Jack

@James Morin

Welcome James. Honestly..... I only buy cash flow properties, but as someone else said, there is nothing wrong living for free.

Use this as experience and learn real estate for free. Try and find ways to add value to increase your market value.

Some advice... factor in 200/unit for a maintenance fund. Leaking roofs are expensive!

Good luck and welcome. Dm me if you have any questions.

Jack

@Theresa Harris

Hey Theresa,

Yes. That is why I mentioned it is an apartment complex I am buying. The only contractual issue I would have would be on the leases that state it will be a 55+. I could wait for all of those to be month to month prior to removing 55+ designation .

No HOA or condo if I were to own the complex.

Does anyone know of any CA state or local laws that might affect the ability to change that?

Jack

Hey all,

I have searched the forums and online for knowledge of restrictions on removing the 55+ restriction on an apartment complex. Does anyone have any experience or know of any watch out when doing this?

This is not a house in a 55+ community. This is an apartment complex that is currently 55+ which has locked rents in low.

I appreciate any input!

Thank you,

Jack

Hey all,

I was hoping someone could help me with my situation. I am an out of state investor whom has become interested in the suburbs of Detroit. 

I currently own one house in Eastpointe, and I am in the process of buying more. If anyone is interested in stopping by the house and taking a few pictures as well as some other small tasks i would be happy to cut you into the deals.

Thank you,

Jack