All Forum Posts by: Jake Panko

Hi Scott! Let's maybe jump on a call Friday if you're available. 

Absolutely! :)

Hello BP!

My name is Jake and I have been working real estate since 2015 in the Austin area market and now the Portland area, as well. I'm looking to grow my network with investors in the Portland area. My business partner and I have been coming across off-market deals and have a flip opportunity in Gresham and a lot in SE Portland for a new build. We plan to grow this side of our business more in 2024. Let me know if you would like to connect. 

Kind regards,

Jake

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $10,500
Sale price: $80,000

Land flip of 2.65 acres. We were going to build our house on it but then moved to Portland, OR.

What made you interested in investing in this type of deal?

2.65 acres in beautiful Marble Falls.

How did you find this deal and how did you negotiate it?

On-market

How did you finance this deal?

Conventional

How did you add value to the deal?

Got a survey and I took the risk to buy and it happened to be at the right time.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $10,500
Sale price: $80,000

Land flip

What made you interested in investing in this type of deal?

2.65 acres in beautiful Marble Falls. We were going to build our house on it but then moved to Portland, OR.

How did you find this deal and how did you negotiate it?

On-market

How did you finance this deal?

Conventional

How did you add value to the deal?

Got a survey and I took the risk to buy and it happened to be at the right time.

Investment Info:

Condo other investment.

Purchase price: $126,000
Cash invested: $14,410
Sale price: $185,000

Used as a short-term rental. Rental comps for long-term rents was $1,100. Short-term rental could get up to $2,500.

What made you interested in investing in this type of deal?

Location, view of the hill country, 15 mins from downtown, plenty of value add opportunity.

How did you find this deal and how did you negotiate it?

Referred by a friend.

How did you finance this deal?

FHA lending initially.

How did you add value to the deal?

Paint, laminate floors, painted kitchen cabinets, replaced appliances, furnished for short-term rental, renovated complete bathroom.

Property taxes are bound to go up when property values are skyrocketing. @Eran G. Just curious what do you consider high property taxes? What percentage of market rent?

I've been in Austin for 27 years and since I started my wholesale business 18 months ago I've wholesaled 31 (2-4 multi-family) properties in Austin, TX. There is still room for growth in Austin with the influx of job growth, population growth and lower purchase prices than say California. The jobs that are being created fit in the $75k+ range, which work well with the lower cost of living in Austin. That is quickly changing though with all the money coming to this town. @Brad L. had solid advice on considering a refi so you free up cash to deploy and still keep your LA property for future appreciation. You can find value add properties that offer 6%+ cap rates in a decent area for appreciation here in Austin. Hope this helps and you are NOT too late to capitalize. 

We acquire MF 2-4 units in Austin, TX. We currently work with a fund manager and high net worth individuals. Despite feeding properties to our current buyers we are in need of new buyers to keep up with our volume. We have multiple properties to unload. Please private message me.

Thanks,

Jake Panko

Price - $275K

Rehab - $60K

ARV - $415K

Email us for more details. 

[email protected]