All Forum Posts by: Jason Huff

@Christopher G.....Thanks Chris!  We are getting close to taking the plunge, so I may give Lindsey a call soon.  I'll let her know you speak highly of her.  Sorry for the delayed response....I was on vacation and refused to look at my email, which was pretty much the most awesome part of my vacation!

Awesome story, @Christopher G.!!  I think I last spoke with you almost one year ago and I could tell you were on the move.  But wow, did you really accelerate!  I appreciate your advice about hiring a broker/PM....makes a lot of sense.  Lemme know if you wanna introduce me to her ;-)  I still can't believe you pulled all this off from Europe without seeing a single property.  That's really impressive.  Congratulations on a great story and achievement.  Nice to see @Cesar Serrano on here as well!...It's a Frankfort reunion!

I have nearly the exact same question. I have a partner who wants to match 50/50 to acquire a house to BRRRR, with me overseeing all the work. I have some experience (2 rentals, equity in an apartment complex equivalent to 6 units). But it's unclear what value can be assigned to "overseeing all the work." I won't swing a hammer, but I will run the entire show from acquisition, to rehabbing, to leasing, to managing. The partner will simply provide 50% of the acquisition and rehab funds (the partner may take the cash-out refi in his name). Can anyone provide a rough range as to the value (in terms of equity) one might assign to performing all the work in a BRRRR (and all the management work thereafter)? @Travis Harden and I could then substitute an appropriate value into our respective deals.  Also, what value (in equity) might be attributed to taking the refi mortgage in one's name?  Thank you in advance for any insight you may be able to provide.

@Tj Hines Thank you for your thoughts and your offer to split a membership.  My sincere apologies for the late reply, as it has been a busy weekend.  We may be interested in splitting a membership down the road.  But I do not want to waste your time and would have to admit that, as for the present circumstances, we are probably unable to fully take advantage of Reonomy right now.  I'm sort of fact-gathering at the moment, but we may move forward with Reonomy in the no-so-distant future.  I will certainly keep you in mind when that time comes, should your offer still stand at the time.

Thanks @Taylor L. I very much appreciate your thoughts on the usefulness of Reonomy. I think I may have too small of an operation for Reonomy at this time, as we are looking to BRRRR single family homes. But a representative from Reonomy told me they now carry data on everything from duplexes on up. I have some interest in the duplex thru quadruplex assets, but I find the pricing on these to be significantly less competitive currently.

If you have used Reonomy, would you mind sharing your thoughts on it?  I would very much appreciate any insight you may have.  

I am seeking logistical advice related to co-owning long-term rentals with other individuals. I hoped to find a seasoned investor having experience with co-owning properties to schedule a call with.  I would be very grateful for any insight, and will have a pointed list of pre-drafted, clear questions so as to avoid wasting your time.  If you are willing to briefly mentor another over a single, one-time phone call, please do direct mail me.  

For background purposes, I seek to approach 1-2 friends to combine funds for several BRRRR projects. The subsequent long-term hold presents several issues I hoped one of you may be gracious enough to shed some light on for me. I am not selling anything....I am merely reaching out for advice. I am not a newbie investor, but I do not consider myself highly experienced either. I am also an attorney, so I already understand much of the business organization side of things.

Please accept my gratitude for considering mentoring me on this topic.

Jason

@Christopher Costa, welcome.  What biotech company do you work for?  I'm a patent attorney in Midtown, and we do a lot of patent prosecution work for local tech companies in the southeast.  GT is also one of our clients.  

If you're looking to network soon, there's a meetup at Loca Luna north of Midtown this Thursday at 6pm.  I think Michael Ehmann provided a link above, but you can also navigate in BP to Network -> Events -> Atlanta (the event is Real Estate Connections). I went in June....there were probably 150-200 real estate-related people there.  Unlike Michael's experience, no one tried to sell me anything....but then again, I didn't bother going to the sponsor tables and just mingled instead.

FYI, I work in the 999 Peachtree Building, right in the midst of Midtown.  I used to work in the 1200 Peachtree Building a year ago, and saw much of the same there.  There is one giant condo building that sort of looks like a white castle with black steel balcony banisters.  That one appears to be quite full and is a well-established building.  But I see new construction being finished or presently going up all over the place in Midtown.

Hi @Sam T., I probably shouldn't speculate too much on the status of the Midtown condos, but when I look out my office window or drive/walk through Midtown, there appears to be an abundance of condos which are already finished (within the last 1-2 years) and at least several new condo buildings currently under construction, each at different stages of completion.  When I glance up at the balconies of each finished or soon-to-be finished building, I frequently see that two thirds or more appear empty (while the others have outdoor furniture, bikes, etc on them).  This suggests to me that the condos are actively being sold but significant inventory remains.  From my office window, I can see into the condos of the building next to me.  Many appear dark day in and day out, even late into the evening when I get stuck at work.  I don't think I could comment much further because I haven't done any actual research.  Thus, take this as mere casual observation.  Hope it helps, and happy hunting!!