All Forum Posts by: Jeff Moore

philly and south jersey

good to know I BRRRR a 16 unit apartment complex and am looking for another one

@Jaycee Greene

I am looking for group/person to work with to make sure I am following through with new wholesaling business plans.  I can assist person/ group with theirs also (including fix and flip I have a lot of experience).  Basic set up of meeting would be 

1.  talk few minutes

2.  go over what big goal working towards.  what did you commit to last week to get there?  did you accomplish it?

3.  one person a week in "hot seat" explain what you are struggling with and given input on ideas to work thru/fix

4.  What are you going to commit to this week?  What is most important things you need to do to get there?

basic quick structured.   

Hi All,

I am back.  I have just been over here flipping houses with no real contact with other investors.  I have started wholesaling properties and am looking for an accountability partner or group.  Any info on groups or people interested would be great.  It can get lonely out there

Jeff

@Sam Yin

Thanks for the feed back.  Yes I find everything off market.  I have flipped a ton of houses and small rentals.  This is largest one so far.  I am very good at identifying and stabilizing properties.  It is just scary to give up this amount of very stable income.  All tenants pay rent online or thru pay near me, all repair requests go directly to handyman who schedules repairs.  I have made it really easy to run.  So if I am going to continue moving forward I am just deciding wether to keep this and pull money out and build on it or just buy a larger complex that is distressed

@Heath Thomas Jr

Rents are not coming down anytime soon.  Do you feel that commercial property values will drop as interest rate goes up causing a squeeze on profits due to paying more interest 

Actually it is 4.25% for next 4 years than can vary on 15 year term.  If I sold though I could have a decent chuck of change depending on PP of new property to repair/evict and not collect rent right away on some of the units like I did with this one

Hi Everyone,

I have a 16 unit apartment complex that I currently owe $490,000 on. I cash flow after all expenses plus 10% Capex, 5% repair and 5% vacancy about $70,000/year. I have an offer to purchase for $1,300,000. I am wondering if I should sell and 1031 now or just hold onto and cash out for new purchase. My current interest rate is 4.5%. I almost feel like I should sell and find another underperforming complex and fix that up like I did this one. Any thoughts or questions would be greatly appreciated.

Jeff Moore

Hi BP,

I need an experienced CPA that knows Opportunity Zone, Neighborhood Revitalization tax credit, New market tax credit etc... I own a 16 unit apartment complex in areas listed above in NJ. I have an opportunity to add at least 6 more units to this property replacing a building that burnt down prior to me purchasing the property. I know there are grants, low intrest loans, tax breaks, strategies that I can use just need some direction. I also own 6 acres I could build commercial building in same zones. I am also a flipper and I profitted about 120k this year already flipping that I could use in opportunity zone. Currently I am using an accountant that helped me set up a dedicated partnership for opportunity zone purposes. He has been good for me but I need a CPA that really knows how to really use these special zones

Thanks in advance

Jeff

Hi BP,

I need an experienced CPA that knows Opportunity Zone, Neighborhood Revitalization tax credit, New market tax credit etc...  I own a 16 unit apartment complex in areas listed above in NJ.  I have an opportunity to add at least 6 more units to this property replacing a building that burnt down prior to me purchasing the property.  I know there are grants, low intrest loans, tax breaks, strategies that I can use just need some direction.  I also own 6 acres I could build commercial building in same zones.  I am also a flipper and I profitted about 120k this year already flipping that I could use in opportunity zone.   Currently I am using an accountant that helped me set up a dedicated partnership for opportunity zone purposes.  He has been good for me but I need a CPA that really knows how to really use these special zones

Thanks in advance

Jeff