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All Forum Posts by: Jason Perry

Jason Perry has started 3 posts and replied 15 times.

Post: Looking to Network with Opportunity Zone Expert

Jason PerryPosted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 16
  • Votes 17

We have a group here in Ohio who are looking at a development project. The project is in an opportunity zone and being able to leverage that will be key to the project. We would love to setup an hour long call with someone who has experience with opportunity zones and begin building a relationship. The help and guidance would be greatly appreciated!

Post: No Seasoning Period Cash Out Refi Lenders in OH

Jason PerryPosted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 16
  • Votes 17

@Dave Poeppelmeier we use Croghan along with First National Bank of Sycamore. They both make the process very easy and are great to work with.

Post: Illegal multifamily... am I going to Jail!?

Jason PerryPosted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 16
  • Votes 17

@Brandon Turner We have more experience with these types of zoning issues than I can even explain. We had neighbors complain one time because they didn’t realize they had moved next to a triplex. We had a really long battle and saga with them (I’ll spare you the details) and the city and we were able to prove it had been a triplex since prior to the zoning going into effect. Most of the other problems we’ve had have been with appraisals and financing but if we never have another zoning or nonconforming property issue it will be too soon.

Post: What single habit has contributed the most to your success?

Jason PerryPosted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 16
  • Votes 17

Discipline, a focus on continual improvement, high levels of self awareness, and to me, the most important thing is to enjoy what you do. I love what I do. I don't love it all of the time, but in general, I never dread going to work and I love the people I work with. To me, if you can't find passion and joy in what you're doing, success can be difficult to achieve.

Post: Off market deal question

Jason PerryPosted
  • Rental Property Investor
  • Tiffin, OH
  • Posts 16
  • Votes 17

We've done a few of these types of arrangements, while not exactly the same. To me, getting a joint venture contract written up in the most important thing. You need to discuss a lot of "what if" scenarios and make sure you are all in agreement on how those things will be handled.

How are holding costs being handled?

Who decides what get renovated and what materials are used?

What if there is a fire or some other type of disaster at the property?

What if a contractor isn't vetted correctly and gets injured at the property and sues?

What if the property sells at a loss?

What if the house sits on the market for an extended period of time and the current owners blame the renovation for this?

I'm certainly not saying not to do it. I just always like to cover these items and get them down on paper so everyone is on the same page.

On a side note, I'm only counting three parties in this deal. Did I miss the fourth?

Good luck!