All Forum Posts by: Josh Stack

@Brandon H. I think it's interesting that no one has been able to or willing to share detailed data about the performance of their turnkey portfolio.

I think this speaks pretty loudly that turnkey is not necessarily a winning strategy.

Hi @Paul Faryna, my focus is west of Charlotte.  The fundamentals of growth in Gaston County still look strong.  Growth has jumped the river and Belmont/Mt. Holly and westward still look like areas with long term strong potential.

Here is an update on the FUSE development, hopefully it will go forward  https://www.gastongazette.com/news/20190115/gastonia-leaders-unveil-latest-details-of-fuse-district-vision

I'm resurrecting a super old thread here, but does anyone who currently haunts these forums use surety bonds in lieu of security deposits?

@Simcha Davidman,

No, didn't go through with them as my project failed to get to closing.  I think they are a reputable lender though, based on all information I have seen.  No first hand experience with them however.

Hey BP Folks,

With your help, we will acquire a multifamily asset of 30-100 units in the region west of Charlotte, NC. Specifically within the Gastonia, Asheville, Boone triangle. We are unafraid of tertiary markets as long as the town has good underlying fundamentals.

Particulars:

- 30-100 units w/value add

- B or C class asset, stable working class neighborhood

- Light rehab OK but not looking for major reposition or complete rehab

- Pricing at 8-10 CAP

Here is an example of a sold complex from 2017 which is exactly the type of asset I'm searching for. https://goo.gl/maps/dTmWPaqRvQ82

I have capital and existing relationships with regional banks. If needed, I also have a network to bring in other investors if the size of the project warrants it. When we find the right deal, we will get it closed - no worries on that.

If you have a property that meets our criteria or can connect us with someone who does, please get in touch by email ([email protected]) or through PM on BP.

——

Counties: Gaston, Cleveland, Rutherford, Polk, Henderson, Buncombe, Madison, Yancey, McDowell, Burke, Caldwell, Catawba, Lincoln

Cities: Gastonia, Shelby, Columbus, Rutherfordton, Hendersonville, Asheville, Marshall, Burnsville, Lenoir, Morganton, Newton, Lincolnton, Kings Mountain, Forest City, Black Mountain, Burnsville, Spruce Pine, Mars Hill, Weaverville, Hickory, Granite Falls, Maiden, Stanley, Cherryville, Marion, Boone

Subject: // Looking for: Multifamily 8-30 units / B or C / 8-10 CAP

With your help, we will acquire a multifamily asset of 8-30 units in the region west of Charlotte, NC. Specifically within the Gastonia, Asheville, Boone triangle. We are unafraid of tertiary markets as long as the town has good underlying fundamentals.

Particulars:

- 8-30 units w/value add

- B or C class asset, stable working class neighborhood

- Light rehab OK but not looking for major reposition or complete rehab

- Pricing at 8-10 CAP

Here is an example of a sold complex from 2017 which is exactly the type of asset I'm searching for. https://goo.gl/maps/dTmWPaqRvQ82

I have capital and existing relationships with regional banks. If needed, I also have a network to bring in other investors if the size of the project warrants it. When we find the right deal, we will get it closed - no worries on that.

If you have a property that meets our criteria or can connect us with someone who does, please get in touch by email ([email protected]) or through PM on BP.

——

Counties: Gaston, Cleveland, Rutherford, Polk, Henderson, Buncombe, Madison, Yancey, McDowell, Burke, Caldwell, Catawba, Lincoln

Cities: Gastonia, Shelby, Columbus, Rutherfordton, Hendersonville, Asheville, Marshall, Burnsville, Lenoir, Morganton, Newton, Lincolnton, Kings Mountain, Forest City, Black Mountain, Burnsville, Spruce Pine, Mars Hill, Weaverville, Hickory, Granite Falls, Maiden, Stanley, Cherryville, Marion, Boone

@Steve Maginnis  I have bene pleased with the results and service I have gotten from @mckinley carbone and the team at Open Letter Marketing.

Hey Y'all,

With your help, we will acquire a multifamily asset of 8-100 units in the region west of Charlotte, NC. Specifically within the Gastonia, Asheville, Boone triangle. We are unafraid of tertiary markets as long as the town has good underlying fundamentals.

Particulars:

- 8-100 units w/value add

- B or C class asset, stable working class neighborhood

- Light rehab OK but not looking for major reposition or complete rehab

- Pricing at 8-10 CAP

Here is an example of a sold complex from 2017 which is exactly the type of asset I'm searching for. https://goo.gl/maps/dTmWPaqRvQ82

I have capital and existing relationships with regional banks. If needed, I also have a network to bring in other investors if the size of the project warrants it. When we find the right deal, we will get it closed - no worries on that.

If you have a property that meets our criteria or can connect us with someone who does, please get in touch by email ([email protected]) or through PM on BP.

——

Counties: Gaston, Cleveland, Rutherford, Polk, Henderson, Buncombe, Madison, Yancey, McDowell, Burke, Caldwell, Catawba, Lincoln

Cities: Gastonia, Shelby, Columbus, Rutherfordton, Hendersonville, Asheville, Marshall, Burnsville, Lenoir, Morganton, Newton, Lincolnton, Kings Mountain, Forest City, Black Mountain, Burnsville, Spruce Pine, Mars Hill, Weaverville, Hickory, Granite Falls, Maiden, Stanley, Cherryville, Marion, Boone

Hey Y'all,

Can anyone recommend a general contractor in the greater Charlotte area or more specifically Gastonia, NC?

We have a major rehab of a 10 unit apartment complex kicking off in early 2019 and would like to line up a reputable contractor that comes recommended by someone on BP.

Thanks!

Hi Chris,

Get in touch with Chris Wetherall, he will help walk you through it.  There is a great Wheelbarrow Profits on cost seg that you might find informative.

https://jakeandgino.com/cost-segregation-to-build-wealth-with-chris-wetherall/