All Forum Posts by: Johnquel Jones

@Todd Dexheimer Congratulations! Keep at it! I have considered out of state purchasing. But, I am still a bit unsure of where to start. When it comes to researching properties, are there certain rules and regulations f=you look up for each state?

 Best suggestion of all time.

 In the case of Chalmette, the land is cheap because people did not move back here after Hurricane Katrina. It just recently,within the past 2 years, became available because the government basically said, "screw it, these people aren't moving back and we could use more homes here." 5-10k land grabs were in good neighborhoods commanding high selling prices. However, as everyone knows, there are tons of factors that play into how quickly that property will sell and anything else that follows.

Maybe if I had a LOC I could lock this down.

@Andrew Johnson thank you for commenting. No sir, I do not have 6 months of reserves. I believe everything you said is accurate. Once I factored in taxes and insurance this turned out to be a dud. Plus, there are 14 units that may still need renovating--no thank you. I will continue to look for my first deal.

@Rivy S. I was definitely wondering about the CapEx inclusion. All in all, I am glad everything worked out.

Yeah, you are definitely right @Hong Lem . Most of the properties I saw are now gone. If I run into any land out there that is reasonable, I will let you know. Any preference? Price limit?

So, I have been shopping around for different deals that I can find within a 3 hour driving distance from my current location. And, now I think I have one and would like some guidance. I have little if any money for this deal which makes it interesting to me. Why you ask? The seller is offering up the possibility of seller financing (possible is good enough for me). There are some blemishes however. The property is operating at a 12% CAP rate, is being offered for 699,990, and the NOI is 84k--verified by my Math to ensure what I was seeing is accurate and assuming you are not a stickler for $10. Also, the occupancy rate is 25% due to a recent tenant overhaul. On the plus side, the property was recently renovated (so I read...I still need to contact the seller). What do you guys think about this deal? How can I structure it to take advantage of the seller financing offer?

Land in Chalmette is going for 5-10k....Must be why I see a lot of new construction here. Or, am I wrong?

Hey all, I am new to RE investing and have been learning since October of 2016. I am offering to help professional real estate investors for FREE. Location is not a factor. This is not a "something for nothing" exchange. Although the offer is FREE, I do gain experience through helping you which, in turn, helps me. Need help running reports? I will do that. Research? I will do that as well. Need me to call someone for you to find out estimates, material pricing, offers on a property, and just about anything else, let me know. I am here to help you. If you can think of anything, I will be here. In the meantime, I will get back to my own research.