All Forum Posts by: Jamar Taylor

I've had some success with this in Arizona. My thought process on sending my clients wholesale deals is that it's all about the client. If the deal makes sense then I'll send it over and let my client figure it out from there. With my investors, we have come to an agreement that whether I win or not on the buy I'm their guy! I know they'll potentially let me sell their new investment when the time is right. 

Scott, 

At the time we found a GC who was willing to do the work for $65 a square foot. In the end, we had to have another contractor with who we do business now come fix some things. But those expenses are paid by the investment. We were still able to take our initial investment out during the refi!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Tempe.

Purchase price: $705,000
Cash invested: $170,000

Our first multi!

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

I've been interested in multi-family since 2015 when I went to my first real estate seminar that the NFLPA put on. Once I acquired a few properties in California I realized it was time to move to Arizona.

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

We found this deal on the MLS. It was a doozy might I say. When we first started to negotiate the deal, covid hit. I wanted this property even though I knew covid would bring challenges. It was the location that I loved the most. There are a few other parcels that I knew with time maybe I could acquire if I jumped on them at the right time. We were able to get the home for asking. Some don't see that as a good deal, but the owner held it for us till November!

How did you finance this deal?

We did a conventional to finance this deal!

How did you add value to the deal?

During covid, we faced a ton of challenges. We had to do a full tenants turnover once covid was done. From there we added turf and a gazebo for the tenants. We cleaned up the exterior! We've also done full renovations spending about 50k in rehab in the last year. Now we are cash flowing where we want.

What was the outcome?

Unfortunately, interest rates are killing us all so we weren't able to cash-out refi. As of now, we are cash flowing right where we want. We are going to list the property because it's a great time to sell. If we don't end up selling we will keep it, refinance and scale up!

Lessons learned? Challenges?

We've learned a lot from this property! The biggest thing is having a great manager. Our first manager wasn't good and our property wasn't being ran with integrity or accountability! With time we were able to find a great manager who we value a ton. She got us right where we needed to be! She's awesome! So my advice would be to have a great manager who will keep your investment property float!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jamar Taylor (retsy)
Laura Abby (Taylor St. Manager)

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $960,000
Cash invested: $400,000

Fix and Flip

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

This deal was awesome. I met my partner while looking over a fix and flip for her during December 2021. During that time she asked me if I wanted to partner in a huge fix and flip with her. At first, I was skeptic, but the numbers made sense. I was already doing fix and flips, so it made sense to take away the risk

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

My partner actually found this deal. It initially fell out of contract, so she was able to get it for under asking

How did you finance this deal?

Hard Money Lending

How did you add value to the deal?

To add value we are adding about 2000 sqft to the existing home that sits on an acre lot. We are also adding a casita that will be about 1500 sqft.

What was the outcome?

The project will be done here in july

Lessons learned? Challenges?

What I've learned is having a team is so important. Not just a team, but a team where everyone takes their role serious!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jamar Taylor (retsy)

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $600,000
Cash invested: $130,000

We did a BRRR on this property. Got it for 600k and put 130k into it. After about six months we were able to do a cash-out refi and take all of our money out with still keeping about 30% worth of equity in the property!

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

Initially, I acquired this property for my wife. During the process of renovating I received my real estate license. Once we finished the project I wanted to sell, especially in today's market. We had a few offers, but when we got it pre-appraised we loved the equity we were able to get by just doing a cosmetic update. We decided to keep the property because of its location and Airbnb. We were able to pull out all of our money and cash flow right away!

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

We found this property off of the MLS

How did you finance this deal?

We financed the deal with our own money, this is why the cash-out refi was so important to us

How did you add value to the deal?

We did a cosmetic fix but also added about 400sqft to the home.

Lessons learned? Challenges?

The one big challenge that we faced was just dealing with contractors. All contractors will have something that you don't like. It was a big tug and pull when it came to what my wife wanted the home to look like and what the GC wanted to do. All in all, we were able to work everything out.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jamar Taylor (retsy) great real estate agent!