All Forum Posts by: Jordan Crumley

Derek--thanks for the note. I will contact you to set-up tims to talk.

Thanks, Jay

I am part of a group doing a development in Boston. We are looking to borrow ~$10.5mm to development the  units. The group is experienced and looking for a lender that doesn't require a personal guarantee. We have enough cash to have a lot of equity in the deal, but are looking to finance as much as possible. If you are a lender or know a lender that would finance a project like this let me know and I can give you details. Thanks.

Hi, All: 

I am considering buying a 4-unit property from my father. Are there any issues with related party transactions I should keep in mind from a tax standpoint? Let me know if I need to give more details for you to provide guidance. Thanks in advance for your insight!

Jordan

Audrey & Eric-Thanks for the follow-up. I am excited to learn more about the Triangle, and I will reach out to you both individually to address your questions. 

Hello BP Community,

My name is Jordan Crumley, and I am interested in learning more about investment opportunities in the Research Triangle. I am a multifamily investor in the Boston area, but I am beginning to liquidate some of my properties up here and am looking to reinvest in North Carolina. I am interested in buying larger multifamily properties (15+ units), and I would like to connect with some folks down in NC to get a lay of the land and learn about opportunities to redeploy my cash.

I am closing on the sale of 4 condos in a month, and will have a decent amount of cash that I’d like to put to work. I would consider a 1031 exchange if it is a no-brainer (my net proceeds will be ~$1.7MM), but I would need to make that determination in the next week or so. Most likely I am going to pay the capital gain vs. rushing into a new deal just to delay paying taxes. All the deals I am seeing up here either the seller is unrealistic on pricing, or buyers are bidding up properties past any sort of rational price. I realize I am not the first person to identify NC as a good investment location, but I really like a lot of the attributes in the Triangle. I want to stick to the Raleigh-Durham area because I have a friend down in Durham that can be my eyes/ears in the area, and it is an easy flight from Boston.

Sorry for the long post, but I wanted to give sufficient context. If you interested in chatting about your perspective, I would love to connect. Thanks for your time and support in advance.

Thanks,

Jordan

@Flavio Zanetti would love to get a cup of coffee. Contact me at jordanrcrumley at gmail.com and we can set up a time/place to meet. 

@Flavio Zanetti I did use Sergio on my project. And I think he mentioned you to me as well, he said he knew someone looking to purchase real estate in Lynn...small world indeed. 

What are your guys thoughts about Danvers/Peabody/Beverly? 

Thanks, Josue. I agree--waiting would be ideal--but I am under the gun. I will need to identify exchange opportunities by Sep. 10th (my closings are on July 25th), so I need to act sooner rather than later....that said, I love Somerville too! I also think the Green Line Extension will happen, and that will make it an even better place to own real estate. 

Thanks, Matt...100% agree about Salem--I would hate to get a 2am fire alarm going off call. I will revisit Lynn. I looked at a larger mixed use property a while back (it was a nice huge brick building that had a massive fire, and would have been a great project, but I think the seller wanted a little too much money given the cost to renovate), but haven't really looked much since. I will resume my search there.