All Forum Posts by: Jamie Parker

Who has participated in auctions on the any of the Commercial RE sites, Loop Net, Ten-X or costar. What was the experience like, what was the title process? 

IMO: the market should slow down some due to inflationary spending (free money the government been handing out) and the war in ukraine. Not because of the war but the free money the government has been donating to the efforts(this is not a political post, simple economics). Combine those to with OZ investing. Not against or for either, but the interest rate hike should literally be a little higher. Add to that natural disasters and random things oh and the supply chain situation. And for good measure, to avoid 2008, No doc loans are back, so be prepared for credit default swaps. Overall the confidence in the market is still solid overall IMO

The Housing market has turned down hard. In my market im seeing at at least 15-25% on SFR and about the same on some commercial deals i've been spying personally. Even SFR rental rates are dropping vs a year ago in the same zip codes. In high demand Areas like Nashville (the only one i can recall from first hand account) The insolation from national effects seem good, but in memphis, As i'm still learning what drives the market, in order to hit the swing on t price points with a level of confidence to start a 6-9 month project in today's climate.

@Account Closed

I received the Engineering Report, ultimately once it cleaned out will be able to better see what i'm working with as it relates to the flooring. You have any understanding of the information presented? I have more pics where only able to post 2 per post.

Based on our visual structural inspection of the referenced residence, all the roof framing and the

majority of the residence should be rebuilt except for structural members on the front side which

were addressed in this report. This report does not provide any recommendations for the repair

methods. Current building code requirements and local amendments should be considered for

rebuilding the fire-damaged portion of the residence.

The Engineer shall have no liability to the Owners, or to others for the acts or omissions of the

Contractor or any other Persons performing work on the project, or failure of the Contractor to

carry out the work in accordance with this letter, except where specifically inspected and

approved by the engineer and discovery of defect is possible within the normal ability or standard

of care for the industry.

This report is based on a diligent visual inspection of the referenced areas. No destructive testing

was requested or required for this report.

Quote from @Kirbi Campbell:

Hey everyone! As we continue on into a new digital age - I have begun to notice more trends in virtual real estate as well as using Web 3.0 in new real estate marketing/purchasing trends. Even air bnb's that are accessible through NFT utility! I find it exciting as I am also in the Web3 space. I wanted to hear everyone's thoughts/ideas/concerns on this topic!

So are some air bnb's only accessible with/by particular NFT's. thats kinda cool.  Interested in understanding more about web3s integration generally into the market as well as how you are you leveraging new tech for marketing ads and such. I know a little about networking but its not my bread and butter interested in web3 and nft.

@Account Closed

I think you helped me confirm 

buying @35K + 40K would get me to less that 70%LTV @120KARV.

Im suspecting 4-6 month turn because funding.

on a 580 per month note the project would be about 46k-50k all in. 

If these numbers stick, im pretty excited

Hello BP,  It's been a while since I have been active in the forums or on the platform. With that being said I have found an opportunity to get back in the game. Looking for some understanding about because of my planned exit strategy.
I have some questions about: 

1> Cash Out Refi LTV: Single assets versus multiple properties

2> Terms and best practices:

3> Utilizing a Realtor

4> Personal Guarantees: Stabilized/ Performing vs Personal credit

Set up:

Utilizing non amortized seller financing to acquire the property @ 35000/60 months.

Rehab Estimates are not in in yet the property. Stone outer shell, Burn out. 

Engineering Report has declared the property re buildable 

Goal to to be all in under 80k

Based on lose comps 120K today would be the resale value to hit as a 3/1.

***as true numbers come in will update post****

This will be my first rehab all time!! pretty excited, in that same excitement, because of my experience in acquisition/dispositions I believe i can find more properties under the same strategy.

Question

1> Cash Out Refi LTV: Single assets versus multiple properties:

If all properties are performing how many should be considered into 1 portfolio loan, or should properties be enter into loans separated then combined?

2> Terms and best practices:

What are some ways to better set myself up to qualify for long term debt service products?

3> Utilizing a Realtor

When should i use a realtor or how could i utilize the aid of a realtor ?

4> Personal Guarantees: Stabilized/ Performing vs Personal credit

Going in all cash on this project, Ultimately want to cash out on the refi, What should personal credit look like (restructuring), Doing the project in my LLC, will my personal credit matter? How does the asset need to perform to qualify?

Thanks for any insight or advice

thanks

Rich Hupper I'm an investor from Nashville. I would like to get some information about the cost of buy and hold in that market. I'm really curious because I noticed tons of multi family units in the metro area. Being in the north east is there other cost for heat gas and so on that someone from the south may not usually have?

@Joseph Scorese  I recently caught wind of this program in Tennessee. I would expect for different counties and states to approach this program differently but I would like to get more information about how you implement this program in your city. Is this a paid event? How can I leverage this program from my state if I'm not able to attend? 

Business management for Grand Canyon University. I thought this degree was bogus and a quick way to finish a degree to get a piece of paper. But I'm grateful to be 3 classes away from finishing because I've learned so many different things about business theory and how to approach different situations in my business. Though my business is still in its infancy (a year and half) I feel more confident in my pursuit in business.

Jarrod Cook yes please send that info over I would like to give it a look.