All Forum Posts by: Jason Nazarenko

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Investment Info:

Single-family residence buy & hold investment.

Purchase price: $130,000
Cash invested: $10,000

The Latest purchase by Potter Block Properties is the Commercial Hotel in Cotter! This is the oldest standing building in Cotter with 13 rentable rooms!

Investment Info:

Single-family residence buy & hold investment in Cotter.

Purchase price: $140,000

Purchased a historic Church that was being used as a residence. We are at the final stages of a major renovation updating everything! The final project is a 5 BR/ 2.5 BA vacation rental that is going to be incredible!

Investment Info:

Single-family residence buy & hold investment in Cotter.

Purchase price: $165,000
Cash invested: $20,000

Purchased a true turn-key vacation rental to add to our portfolio after the previous owner reached out to us when they wanted to sell it

Investment Info:

Single-family residence buy & hold investment in Cotter.

Purchase price: $75,000
Cash invested: $10,000

2nd SFH purchased, rehabbed, and set up as Vacation rental - walking distance to the other homes I have

Investment Info:

Single-family residence buy & hold investment in Cotter.

Purchase price: $85,000
Cash invested: $10,000

Small rehab and staged as a vacation rental. Great revenue and cash flow from this home that I used to mow the grass at when I was younger!

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

Passion for my town, rehabbing properties, I knew the potential was there with the low break-even

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

FSBO signs

How did you finance this deal?

Local Bank ($10K down)

How did you add value to the deal?

updated paint scheme, staged for vacation rentals

What was the outcome?

excellent cash-cow!

Lessons learned? Challenges?

Small rehab takes longer than you think when you are working a full-time job and finishing other properties at the same time!

This is my first year of Real Estate Investing and have accumulated 5 active vacation rentals, as well as others that we are still rehabbing. I have a local CPA, but I am not convinced my local CPA is an expert in Real Estate Investment tax strategies. This will be my first year digging into the tax strategies and have read a few BP books on the subject (tax strategies for the savvy REI, & Advanced tax strategies).

Does anyone have any recommendations for CPA's if I find that my current one has to be swapped out for next year?

I am in North Central Arkansas - Cotter, Mountain Home Area.

Any recommendations would be greatly appreciated!

Investment Info:

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

Purchase price: $68,000
Cash invested: $376,000

This was our initial purchase in Cotter after retiring from the Army. We did a full remodel and ended up with 3 units (we stay upstairs) and rent the two lower units on vacation rental platforms. You can see more on www.potterblock.com

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

Saw the potential for growth in the town

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

found online and negotiated the sale price

How did you finance this deal?

cash purchase

How did you add value to the deal?

borrowed from a local bank and started a relationship with them.

Borrowed $378K and the house appraised at $425K as proposed

What was the outcome?

We live full time in the upstairs apartment and rent out the tow lower units on a regular basis

Lessons learned? Challenges?

Everything costs more than planned and takes longer, but relationships are priceless!

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

I built an awesome team for the build process and have continued to work with them, bringing them more deals, as well as my new properties as well.

@Derek Harris, thank you. I could have sworn it was called something else on the BP podcast. I have been going back through and listening again trying to find the one I had heard it on.

It was talked about where the real estate investor had completed a few of these during the purchasing process as items were being changed.

What is it called when you ask for a change in the contract when buying a property? I heard it on a podcast once, but can’t seem to find it. It wasn’t called an addendum, but something else. It added time to close as you were doing your due diligence.