All Forum Posts by: Jason Velie

@Brian Rogan

I thought that got nixed?

https://www.wilmingtonbiz.com/amazon-tied_firm_backs_out_of_pender_county_purchase_offer/2022/05/05/amazon-tied_firm_backs_out_of_pender_county_purchase_offer/23191

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $950,000
Cash invested: $80,000

16 Unit property in Randleman, NC. This is the first deal that I have partnered with someone on. A good friend found this deal, and he wanted to build equity instead of getting an assignment fee, so we decided to partner 50/50 on this one.

We were able to negotiate seller financing with only 8% down and 4% interest on a 26 year fixed term. The property should immediately be worth ~$400,000 more after we bump rents, and should cash flow ~$4,000/month to split between me and my partner.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $950,000
Cash invested: $80,000

16 Unit property in Randleman, NC. This is the first deal that I partnered with someone on. A good friend found this deal, and he wanted to build equity instead of getting an assignment fee, so we agreed to go in 50/50 on this one.

We were able to negotiate seller financing with only 8% down and 4% interest on a 26 year fixed term. The property should immediately be worth ~$400,000 more after we bump rents, and should cash flow ~$4,000/month to split between me and my partner.

The terms were interesting on this one, because the seller is counting on these payments to supplement his retirement income, so he insisted that the prepayment penalty be equal to that of ALL future interest for the life of the entire loan. We agreed to this stipulation as long as he agreed to allow the loan to be assumable by another party without his approval, in case we choose to sell it one day. One step closer to financial freedom!

@Jonathan Healy

Hey man, I’ve lived in Pender County my whole life, and heavily invest here. Happy to connect when you get here.

Hey Clint,

Awesome stuff!

I just met Levi the other day and we spoke about a potential off-market CB project. Hopefully we can do a walkthrough next week. I can't make it to the next meetup, but hopefully I can make it to the May meetup. Shoot me a message and let's grab lunch one day. In the meantime, keep crushing it!

@Wes M.

Nice work! Shaun is a great guy.

Let’s connect some time!

Hey Clint, I'm an investor in the Wilmington area and I've been looking into the syndication space for a little while now. I won't be able to make it to the event, but we should definitely connect some time soon. 

@Randall S Rhyne

Hey Randall, I’m not necessarily looking for a partner on anything at the moment, but I’d love to connect some time. Shoot me a message and we can do breakfast or lunch one day soon.

Hey Jacob, feel free to reach out once you're here. Happy to connect. 

Hey Jace, I'm in Wilmington. Shoot me a message. Let's grab lunch sometime.