All Forum Posts by: Jason Coleman

Hey Olivia!

Definitely come out to Pints and Properties on Wednesday, March 29th from 6-8pm. I co-host it alongside Landon Stone. It's a fun event where other investors, real estate agents and newbies listen to a guest speaker, chat with other like minded individuals and drink some beer. Hope to see you there!

Hey everyone!

Do you want to learn more about Financial Independence? Do you want to surround yourself with other like minded individuals? Come out to our AmpliFI Meet up on Tuesday, March 7th from 6:30-8pm.

Location: College Hill Collective- 1208 Oakland Ave, Greensboro, NC 27403

The first meeting will be a Meet and Greet- We will discuss Mindset and why financial independence is important.

Free beer and open to the public!

We can't wait to see you there!

Monthly real estate investors meetup over beers, “Pints & Properties,” with the goal of sharing knowledge, lessons learned, current/future projects, creative financing strategies, etc. We invite the best community members to speak on topics ranging from how to apply for your first loan, where you can seek legal advice, and even how to start your own career in real estate!

Enjoy some brews with us and take advantage of a great networking opportunity! Free and open to the public!

DATE: Wednesday, February 22nd

TIME: 6-8pm

LOCATION: Pig Pounder Brewery- 1107 Grecade St. Greensboro, NC 27408

GUEST SPEAKER: Justin Fraser

TOPIC: Multifamily- Investing in Today's Changing Economy

See you there!!

Who are your preferred cost segregation companies? I’m A little behind this year and need to find someone fast who can run a cost seg on a few of my properties for 2022. I’m in Greensboro NC. 

I'll send you a DM @Jason Lieberman. There a few handymen I cycle through on my rehabs. Thanks 

Hey Aiden, I run a small network of investor friendly agents. We all live and invest in the Triad. Happy to get you in contact with a solid agent who has the bandwidth to support your needs. Please fill out the following google form so we can connect. 

AmpliFI Investor Form

Jason 

@Nicholas Potocki I live and invest in Greensboro. Shoot me a message with your email when you get a chance. There's a google form I'll have you fill out to get you in touch with the right syndicator. I am an investor agent as well with a larger deal I'm working on right now so I'll send you the details once we iron out the price. Would you be interested in a portfolio of single family homes or mainly just apartments? 

Jared this is a solid breakdown of Greensboro. Well done. I live and invest in Greensboro and all of these statistics support my long term outlook on the Triad as a whole. Thank you! Keep up the great work. Loving the market trend and data section in forums now. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $120,000
Cash invested: $15,000

Seller financed rooming house. Could be used as a 4 bedroom long term rental. Instead we are going to keep operating as a 6 bedroom "room for rent" model. Figuring out the management side of this boarding house model is... interesting. Let's just say that.

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

The development potential. We're trying to acquire the whole block : )

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

Asked the seller if she had any other properties she would consider offloading which turned into seller financing. "I want to sell more properties but my CPA said I had to wait to sell until next year because of my tax hit" (That's when I come swooping in with seller financing, cash, subject to, listing options...:)

How did you finance this deal?

Seller financing. 10% down payment @ 5% interest

How did you add value to the deal?

Simple cleanup and operated as usual

What was the outcome?

Teardown in 3-4 years and develop on the parcel.

Lessons learned? Challenges?

Bed Bugs!!! We found bed bugs during the due diligence process and had seller fumigate. We have increased management/cleaning systems and paid for monthly pest treatment to stop this from happening again.

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

I am an agent

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $155,000
Cash invested: $21,500

Not much cashflow on this play because it's seller financed with only 10% down. I plan to tear down this house in 3-4 years once we own most of larger parcel around us. Looking to build a tiny home community or more likely a 30 unit apartment complex. Parcels are already zoned multifamily so that's a plus. We have considered converting back into a long term rental instead of a rooming house. We're still working out the management kinks.

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

The development potential

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

On the MLS

How did you finance this deal?

Seller Financing

How did you add value to the deal?

LVP flooring and a little bit of paint.

What was the outcome?

Buy and Hold

Lessons learned? Challenges?

Stay on top of your contractors. We paid one our flooring guys before the job was finished and we had to hound him to get back out. Minor slip up that pushed our renovations back a week or so. It happens.

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

I am an agent and I rolled the 3% commission into the deal.