All Forum Posts by: Logan Jamieson

I see many people on this forum talking about multifamily buy and hold investment strategies to create personal wealth, as well as business set up specifically to generate profits through the same means.
 

Why do Non-profits not focus more on using their donation money to acquire assets that provide passive cash flow?  Non-profits seem to come and go, and are funded mostly by a combination of grants and donations.  Why do more not own real estate as part of their endowment to support their bottom line?  

I have been working on starting a non-profit for the past year and am curious to arrive at the intersection of my love for multi-family ownership and my public service work.  Possibly one can help fund the other?

Hi all,

I have been presented with an opportunity to invest/partner/ or purchase a property in Brunswick Maine which currently has 1 home on it and is zoned a max of 5 multi-family.  The current home is most likely a tear down.  The location will most likely have low turn over.

Here are my questions:

1) as a rule I would typically stear clear of new construction vs existing remodel however I have had trouble findings multi family deals on southern Maine.  In which general scenarios does small multi family new construing make sense?  The current owner is a family friend/ business associate and purchased this property years ago with the plan up putting up two duplexes.  Essentially, they have a “deal” they are willing the share when i am having trouble finding them on my own.

2) the land is zoned for five.  Thoughts on two duplexes vs a duplex and a triplex or any other configurations?  Are two or three bedroom unites more common or profitable?

3) the property is local water and sewer, and the building would be close to the road.  I own a general contracting company and am hoping to put my boys to work and feed my business.  Can my company do the work a 201(3)k or it’s commercial equivalent?

4). I have an immediate family member who Is in the process of selling a major real estate asset and interested in doing a 1031 exchange/ loaning my equity for a project such as this if I can make the numbers work.  Any help would be appreciated!  My family members property was just listed last week with a broker so it’s time for me to put together any projects I’ve been working on so I am ready when it sells.  

Sorry for such a long post and thanks in advance.

- Logan 

http://www.loopnet.com/Listing/306-Highland-Rd-Ithaca-NY/11339739/

(Forgot to add above)

Curious what you guys think of this place.  Not the listed price, but could each room theoretically be plumed for kitchen/ bath.  Does that change zoning from communal living with seperate bedrooms to full on studio suites?  If so, this sucker could cash flow, regardless of the septic upgrades...?

Spent half my time in Ithaca, the other half in Rochester.  Just only recently relocated to Maine.  

Still dream of buying an Ithaca property from here though...  

Brian- previous amateur flame worker, small goblets and marbles mostly :)

Anyone out there working on any senior housing/ independent living projects?  

Curious to hear the communities thoughts on preparing to meet baby boomer retirement housing demand.  

I have had two competitors Recently switch from a hotels to senior living apartments. Are others seeing this with small multi family or apartment complexes? 

Happy weekend BiggerPockets friends.  I’m blown away by the knowledge and depth of this community and am really excited to be meeting some like minded individuals.  I think I may start to loose friends if I continue to try and talk to them about real estate as frequently as I would like!  

I grew up in upstate NY where I have had an opportunity to invest in both residential and commercial markets as a partner. 

I have relocated my general contacting company to Southwrn Maine and have begun the hunt to build a multi-family portfolio here in the state I now call home.  

I have a million questions, but for now I’ll leave it at thank you all for being here sharing and learning and I hope to at the least make some new friends.

Logan