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All Forum Posts by: John Faulk Jr

John Faulk Jr has started 2 posts and replied 6 times.

Post: Complete Market Analysis

John Faulk Jr
Pro Member
Posted
  • Posts 6
  • Votes 1

Thanks, I am wanting to start in my backyard of Fayetteville, NC. I've been talking with an agent I may do business with. I'm also connecting with lenders and now I will be looking for a good CPA.

Post: Complete Market Analysis

John Faulk Jr
Pro Member
Posted
  • Posts 6
  • Votes 1

Hey family, I am wanting to know how to do a complete analysis on a market. Where to go to get all the information an investor may need like for taxes, trends, what's coming, and all other vital information that I would need to even consider making an offer on a property?

Post: New and need advice quick.

John Faulk Jr
Pro Member
Posted
  • Posts 6
  • Votes 1

Yes, I will always do my own analysis and I do plan on seeking mentorship for further knowledge before proceeding with my investing career.

Post: New and need advice quick.

John Faulk Jr
Pro Member
Posted
  • Posts 6
  • Votes 1
Quote from @Stuart Udis:

@John Faulk Jr When you say 30% cash on cash return is this leveraged or unleveraged? Is this after tax or pre-tax & what type of tax treatment is this investment recieving? You mention mobile home(s)...perhaps implying this is a mobile park community? This is a very niche asset class. What's your experience owning and/or managing this asset & how did you arrive at your return calculations? Why is it so critical that this particular property is acquired? This either implies there are significant barriers making it difficult to replicate this opportunity or is being acquired at a significant discount, which is it?

I don't personally have any insight on this asset class, but you have to be able to answer the questions I presented with favorable substantiated support. If you can't, you may be trying to run before you are able to walk & I don't say this facetiously. I often see people attempt to take on investment opportunties that are not aligned with experience. Perhaps there's a JV opportunity here, but taking you back to what I opened with, unless you can answer all of those questions with substantiated support, you will have trouble getting anywhere with this opportunity.

Post: New and need advice quick.

John Faulk Jr
Pro Member
Posted
  • Posts 6
  • Votes 1

I haven't gotten that deep into this property, I just analyzed it with the information I was given in the listing. I said I really wanted this deal because of the numbers I got back after analyzing it, not realizing that there are more factors to consider like the ones you mentioned in the reply. What resource can I use to find out this information?

Post: New and need advice quick.

John Faulk Jr
Pro Member
Posted
  • Posts 6
  • Votes 1

Hey Bigger Pockets family, my name is John Faulk Jr, and I recently joined the Bigger Pockets community again. I don't have enough money to fund my own deals and my credit is bad, I'm actually working on my credit right now. I found this great deal that offers around 30% COC return. They are mobile homes, and I would love to have this property under my belt, any advice to get me in the right direction.