All Forum Posts by: Justin Jones

I've considered both options.. First I have to be profitable and feed the family before I can even think about helping as far as charity goes. On the other hand, there are a lot of willing and available tradesmen out there needing work. Giving that opportunity would be my first good deed. Once the money starts flowing I would then use a percentage of profits to contribute to local or global causes. My mother, having run a few nursing homes, knows all too well the shortcomings of some retirement or long-term care facilities. She would like to build a place where the elderly and their families will be happy to come to. That is a long-term goal but one that I hope that she and I can see happen one day. I understand that ANY rental investment is going to be more work than I can imagine right now, but I have done some incredible things in the past, and, for my 3 daughters, have no doubt that I can and will do whatever it takes to make it successful. I admire your plans for the senior housing by the way. I think there are too few of those and I've seen some that are in poor condition and it breaks my heart. I wish you the best of luck in that and know it would be rewarding in more ways than one!

Thanks for the info!

Thanks for the welcomes and I will definitely try to make it to the meeting! I have thought about vacancies, updating costs, and maintenance costs along with legal and leasing costs. As I said, I've never done this, so is there a "rule of thumb" percentage of vacancy that I should go by? Is it strictly by looking at the trend of the past few years?

Hello, my name is Justin. My Mother and I have dreamed about owning a business together since I was very young. I would ride my bike beside her as we talked about how our business would run, how we would treat our employees, and how we would use some profits to help the disadvantaged. 20 years later, the dream is still alive! I have 2 associates degrees, Computer Science and Business Management, and she is nearing retirement from Baptist as a Floor Supervisor ARN. We have some capital, not millions, but enough to be taken seriously. In my career in the car industry, I have made many contacts including tradesmen as well as business owners, including an apartment complex owner who is beginning to exit them due to obligations in his other companies. We are contemplating buying the complex, remodeling and renting them for long-term income. I think I can negotiate a good deal, but am afraid that there are problems that I may not be thinking of. I know the basics: maintenance, updates, leasing, and tenants. Looking forward to some good advice!