All Forum Posts by: Jonathan Barr

We currently own a 72 unit building in Norman, OK within the OKC metro. We are also looking in Tulsa and have a strong interest in NW Arkansas.  It has been a little challenging to get broker contacts.  Hoping there are some brokers in that area here or maybe someone knows of someone.

We are looking for 50+ unit apartments with some kind of value add.  We like mostly stabilized assets with operation efficiency upside. We are happy to partner with other ground GP's that could bring us a deal.

Look connect with anyone where we can create a mutually beneficial relationship.

That its similar Sqaure footage the house and lot. Similar bed/bath count.   Also the condition being similar is very important. This aesthetics  and the actual systems of the home.  Then obviously the area.  Also if you have house on busy street it has huge affect then one that's on a quiet street.  I would look if certain are assigned to the same schools.   That can really affect the value.

There is nothing wrong with buying a property and selling right away for large profit. 

Where do have be careful is if you are licensed agent then you have some fiduciary responsibility.

I think within the ethical dilemma to sale sell something own for much more. Wholesaling is whole other animal.

You would calculate it based on your payment, repairs and improvements you have out into the property.   Your mortgage is paying down your principal and interest you can write off for taxes.

It also good to look at how much equity you have in the property.   Its good calculate your return based on the equity in your property.   If that's less 5 or 6% I would sell and 1031 into a larger asset.  Always consult your CPA regarding any of these actions.

@Ryan Skinner

Only larger over million dollars can find lenders that will not make you do personal guarantee. It’s part of risk if you do the homework right it shouldn’t be an issue.

I am active on Twitter.  The current deal I am working came from lender that I connected with on Twitter.   He connected to broker that had control over the deal off-market.   There is good RE Twitter environment.   So if people know what area you are looking in there, they will reach out.

I have seen any clear indication either.  I think depends how cases continue.  If it gets worse we will see some kind eviction moratorium continuing. 

I think just if you can always be conservative especially during these times.   Have higher vacancy factor, more reserves for having a tenant that can't pay.   Also also good to have more repair money then you think.   Construction projects tend to go up 15-20% more then you think.

Technically you will be putting personal guarantee for duplex purchase. I have never seen bank go after someone personal house as well.   They would just take the investment most likely and stop at that.   You always just need to read the fine print and ask your lender professional.

Yes but bitcoin can drop at anytime.   It just doesn't work that way for real estate.   With real estate you know more what your getting.   I think its good to diversify some when possible.   I did a little bitcoin in march which I am happy I did.   I bullish on real estate when being conservative during these times.