All Forum Posts by: Justin Carter

@James Galla I’ll reach out to them, thank you for the recommendation. Greatly appreciated!

I was hoping to get connected to a real estate attorney that is local to Akron, OH? I own quite a bit of rental properties so main usage would be evictions but also looking over or drafting agreements if putting a creative solution together to purchase or sale. 

Hi Jermey, 

I too primarily invest in Akron with quite a bit of Rental properties and Fix / Flips under my belt. I second the sentiments of everyone in regards to more contractors in the area. When you get here and settled lets meetup for coffee to connect! 

Wish you the best, 

@Aaron Hale

Hi Aaron, is this property in Akron, OH? If so, I can provide you some guidance or lenders that may be able to help you.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $14,500

Cash invested: $40,000

Sale price: $75,000

This project was an interesting project. We almost didn’t purchase because it was in such bad shape and we didn’t want to undergo such a massive project for our first flip project. This was a whirlwind of a project with so many things that we did not anticipate. We went through many contractors, overpaid for simple work, and tons of delays. Once it was completed we were excited to have completed our first project and shocked by how great it looked in spite of all the challenges.

What made you interested in investing in this type of deal?

I was able to purchase it pretty cheap and it was a smaller house so I didn't think I was over extending.

How did you find this deal and how did you negotiate it?

I found this deal on the MLS, it sat on the market for over 60 days. We negotiated with a cash offer and quick close and was about to get $10,000 off list price.

How did you finance this deal?

Personal savings and Credit Card for materials

How did you add value to the deal?

This was a complete gut/remodel. We touched every inch of this house. The value I a

What was the outcome?

Great interest with it selling

Lessons learned? Challenges?

Biggest challenges were under estimating how difficult it would be to get good contracts to complete the project. Investor savvy contract aren't in abundance in my region, so we learned the hard way with having to hire and fire many. By the end of this project we put together a great crew that has continue to work on every project moving forward.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

None that I would recommend. Click below photo to see Before / After Photos!!!!

iVest Ohio is a investment group that leverages locational knowledge to provide value to other investors out of state. Strength is truly in numbers, and we have created an platform that combines resources to invest in real estate that are typically out of reach for investors in more expensive markets. 

In 2018, we raised $250k that resulted in a $1.2M portfolio. 

In 2019, we are doing a capital raise of $500k with the expectance to secure $3M in assets from pipeline deals. 

Are you looking to invest out of state but struggle finding a great fit? Lets setup a call to see if we are a great fit for you. 

Minimum Investment: $50,000

Thank you @Jared Bouzek I just registered. You should come, I would love to meet you. 

Hi @Jared Bouzek thank you! The first flip went well, but SO MUCH of a learning process. I learned more in one project than I could sitting on the fence, reading a book or listening to another podcast. :-) I'm looking forward to rolling that experience into the next project. 

Do you happen to have more details on the meetup in castle rock tomorrow? I don't see it on the events tab, Im available and would love to go if possible. 

Hello All, 

I wanted to introduce myself. I have been in the real estate game since 2014, mainly educating myself and saving money to do my first deal. I have recently completed my first flip and in the process of closing on 20 Single family houses in Ohio for consistent cashflow which will fund me being a full time investor. I live in the Denver area and looking to get involved with real estate here. I am looking to connect/partner with a real estate investor who would be interested in some help. 

To build trust I would like to VOLUNTEER my time and services to someone who could use the help. I run my Ohio business remote with a local dedicated team in Ohio to move projects along and put out fires. This has freed me up with extra time, is there someone who could use project managing or help with tedious task for example--I have my own truck to do store runs

Also, what are other good ways to get involved with local RE Investors in Denver? 

Any suggestions would be appreciated. 

thanks! 

-Justin 

Hi All, 

I am a RE investor who primarily invest in the Akron, OH area. I am currently in the process of closing on a seller financing deal for $707k across 14 SFR and 2 duplexes making $130k gross a year in rent. The monthly payments will be based on a 30-year amortization schedule at 5% interest, but the agreement with the seller is a 24 month contract with a balloon payment at the end. The goals is to finance out of this using a bank or other portfolio style lending.

Does anyone have recommendations on banks that would fund this deal after 24 months? There will be about $140k in equity when I am ready to finance at 24 months. Most of these homes are C- or D+ neighborhoods with longer term tenants. 

Any help would be greatly appreciated. 

-Justin Carter