All Forum Posts by: John Albertson

Receiving a large 7 figure payout from the sale of a business. Would like to use real estate to lower my income tax burden. What strategies are available?

Hey, I’m in the Wilmington area and have some experience with parks. If it’s in New Hanover or Brunswick than it will be difficult. Shoot me a message if you have any questions or want me to look at anything. I’m very familiar with Brunswick. 

Thanks. Looking forward to attending.

Steve, Do you know what the topic will be this month? Also is there anyway to see a video of your June 15th presentation?

Teddy Smith there is no disclosure, the property is a off market deal. The red flag was, she did not tell me she was a licensed broker, and changed the subject when I brought it up. The asking price was $120k but I'm confident they would take $85k after multiple discussions with them.

What's the best way to make contact? Still learning about the site.

I found a deal that I was excited about but there have been a lot of red flags. I'm looking for a local more experienced investor to look over the deal and give me feed back. If it turns out to be a great deal than I would be ok with the investor taking the deal if I can tag along for the knowledge. I would also be interested in possibly partnering.

The pro's of the deal:

1. A growing location, a developer just broke ground on a large commercial and condo project (Described as a mini Mayfair), directly behind the house. The developer bought out several other houses and stopped at this one.

2. The house is zoned commercial.

3. Price.. I think I can get it for around $85k, that is also about what the land is valued at. The developer will need the property to expand.

4. House needs some work but could rent for $850 as is.

Red Flags:

1. Why is the house still available? It is not listed on the MLS but there are enough smart investors around I would think someone would of jumped on this deal.

2. I think the seller is also a real estate agent, she didn't disclose that which leads me to believe she is hiding something.

3. House would probably have to be purchased with cash.

I look forward to talking with and possibly meeting with some local investors and discussing this deal. I search for deals daily and am currently in the process of obtaining by license. I would like to establish a solid local network

John

I've found a decent deal and I'm trying to find the best way to finance it. I found 4 lots that are permitted, have septic and county water in place. I'm still negotiating but think I can get the lots owner financed for around $100k. I will be able to get 4 decent double wides placed and set up for around another another $100k. Also I have a family friend who owns a lot mobile homes in the area and will help me with the permits. Once set up, I should be able to get $950 per unit. Im open to all advice and suggestions. Thanks in advance.

Hello, my name is John and I'm originally from northern KY but live in Wilmington NC now. I joined the Marines out of high school, after getting out I then spent the next 9 years as a Deputy Sheriff. A few years ago I was fortunate to find a niche in corporate consulting. I have always been extremely interested in real estate and am now ready to jump in and start investing full time. I have one rental under my belt and am hoping to have ten more within the next 30 months. I am looking to network as much as possible, and am willing to trade work for some knowledge from some of the seasoned investors.

I wouldn't mention it. A gun free zone is just a advertisement for criminals of a easy target.