All Forum Posts by: Jeffrey S Helms

@Brittney WIlliams Do you own the homes in the park or just the lots the homes are located on? I would think knowing this would make a huge difference in what you need to do next. 

@Brenden Mitchum I sure will. @Justin Goodin posted a link to a video on YouTube you can check out as well in his previous comment. I’ll leave one Here. 

@William Costello That's an idea, I haven't heard anyone taking on that as a project but it seems a bit more doable than hotels or motels i would assume.  Location is always something to consider in real estate and i would think this would need a ton of research before anyone took on a project like converting a hotel or motel. Thanks!

@Don-Carlos Moniz I will keep following up with how this project goes here in Albemarle. The obstacles they had to deal with were the size of the existing units. Weather to tear out walls to increase the size of the unit or to keep them the size as they currently are but, I'm not totally sure which way they decided to go. This is definetly something i would like to hear more about from other investors. 

I think it could work in some areas and potentially in  the Atlanta market, North Carolina market as well depending on area. If you are ever interested in looking further into the possibility, let me know. 

Hey @Brenden Mitchum, To be honest I met a commercial real estate agent from Atlanta Georgia recently and she asked me if I knew of anyone who was interested in considering this strategy or already using this. I actually live in Albemarle NC and we have an older motel undergoing this now. I am following the progress of this project to get an idea of how things are going, what are the major hurdles they are encountering etc. College dorms may be an option for this if the location is right and they needed extra space for the students. The students are not going to need to cook as much as most families so a smaller kitchen would be fine in this case I would think. 

As far as seriously considering this strategy, I would think the main thing would be just like any other deal. If the numbers work then why not. 

I have heard of investors re purposing hotels and converting them into Multi Family living. Is there anyone that has done this and what are the major considerations in taking on a project like this? 

What are some of the best ways to locate vacant land in North Carolina?

He wants to start another business to be able to support his family when he moves to new york and he is aware the cost of living will be substantially higher in New York versus Albemarle North Carolina. I will mention opportunity zones to him to see how he responds.   

I am working with a convenience store owner in NC who is planning to sell their store and relocate to New York. Are there any alternatives to the 1031 exchange he can utilize to prevent paying capital gains taxes?