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All Forum Posts by: Lee Nugent

Lee Nugent has started 7 posts and replied 79 times.

Post: Purchasing land to build on

Lee NugentPosted
  • Investor
  • Naples FL and Shreveport, LA
  • Posts 90
  • Votes 39
Quote from @Thomas A Buonanno:

Caio 

My name is Tom and am not in Miami - I'm in Naples florida and own a couple of condo's and my own house is on a canal near vanderbilt beach.

I am fed up with HOA fees and am looking to purchase a lot and then build . I am trying to educate my self on the ins and outs of purchasing a lot and any pitfalls you can warn me of . In addition any negotiation tactics I can use to when getting the best price.

Grazie 


 Good morning Tom! There are a number of things to consider when buying land in Naples to build on. If the sellers don't have a DEP report, you'll want one and it will determine how much wetlands is estimated to be on the property. Also, utilities are another factor along with a number of considerations. For example, I sold a 2.7 acre lot earlier this year in Golden Gate Estates for over 180k that was just raw land with a DEP report. I also just sold another lot on the 20th that was just over an acre, close to the 2.7 acre lot, for 128k. That lot already had the well, fill and fees paid for it. 

I wish it was as simple as buy the land, break ground and build; it's not the case though. Feel free to send a message if you have any questions, I'm in Naples and happy to help

Post: I need insurance on a 48 unit building!!

Lee NugentPosted
  • Investor
  • Naples FL and Shreveport, LA
  • Posts 90
  • Votes 39
Quote from @Isaac Kimsey:

I purchased an apartment complex near Shreveport last year. The insurance company that I used quoted my about 40% higher for the property than they had the previous year. the quote was for $11,345. We purchase the property for $750,000. This year quote came back at $19,536. This really surprised me as we have been in the process of renovating the property. There are 12 quads. We have replaced 5 roofs in 2023. I assumed this would, if not lower the insurance at least keep it around the same price.

Does anyone know an insurance agent in the Shreveport area I could reach out to. I just need to know what I need to do to lower my insurance premium.


 Hey Isaac, I'll send you a connection and some contacts for insurance in the Shreveport area I use

Post: Newish investor looking for experienced advice

Lee NugentPosted
  • Investor
  • Naples FL and Shreveport, LA
  • Posts 90
  • Votes 39
Quote from @Amber Straub:

Hey there, 

I’m in a rut and looking for experienced advice for my next move. 

I purchased my first investment via house hacking Nov 2021 with a duplex in Naples, FL. 


Purchase price: 553k at 2.3% 

Mortgage balance: 523k.

Cash flow: $3250/mo after mortgage

Current value: 705k (via Zillow)

Then I purchased my second property which is a single fam with ADU in March 2023.

Purchase price: 535k at 6.7%

Mortgage balance: 506k

Cash flow: maybe a couple hundred after I move out. Right now the ADU is 2k/month and I live for free using profits from other duplex.

I put approximately 30k into rehabbing the main house on this one with a full kitchen and bathroom remodel. Significant improvements that I’m sure increase the value of the home. 

Problem: I am now strapped for cash and would also like to continue my real estate journey. Credit card is maxed from renovations with high interest rates. I work as an RN but am I single mother and the idea and pulling more hours makes me ill. I want to work smart, not hard. 

Should I pull a HELOC? Just work and Save? Refinance? What would you do with the funds if you did pull a HELOC? Fix and flip? BRRRR?

I have got the house hacking method down. But I have yet to use HELOC or refinance method as a stepping stone in my journey.

Any advice is appreciated! 

 @Amber Straub I'm in Naples and happy to have a quick discussion about how we have leveraged into our current portfolio. Feel free to send a connection request

Post: How can I bridge the gap?

Lee NugentPosted
  • Investor
  • Naples FL and Shreveport, LA
  • Posts 90
  • Votes 39
Quote from @Sparkle Carlock:

@Lee Nugent Thank yuo for your input here! I truly appreciate it. Question: what is a "sphere" to check into? Perhaps I do not understand the term. I do not at this time have any personal PML options but in the future, I love to know how to find them and begin a relationship. 

 @Sparkle Carlock your sphere is consisted of the people around you that you have direct influence with. People that know you and you have existing relationships with. Those are people closest to you tha know, like and trust you that may be able to fund your projects. I hope this helps! 

Post: How can I bridge the gap?

Lee NugentPosted
  • Investor
  • Naples FL and Shreveport, LA
  • Posts 90
  • Votes 39

Partner with someone or use a 100% funding option. I've done some PML for people that covers purchase and the rehab in a series of draws. It is really dependent on the deal and their experience with me. Check your sphere for people that may do private lending as well and you may be pleasantly surprised. There are a number of ways to structure the deals 

Post: Real Estate Investor Groups

Lee NugentPosted
  • Investor
  • Naples FL and Shreveport, LA
  • Posts 90
  • Votes 39
Quote from @Stephen Keighery:
Quote from @Konstantin Ginzburg:

It depends on what market you are involved in with Louisiana. Baton Rouge has a meet up group called Red Stick Real Estate Investors. The city of New Orleans has it's own which I am a part of so would be happy to send more info about if you would like to connect. There is also the North Shore Real Estate group for the areas around Covington and a West Bank group that focuses on the West Bank across from New Orleans. There may be other groups around the state but those are the primary ones I am familiar with. 

 This is a good list. I attend all the meetups mentioned and help run the Westbank One. Closer to you there is a Bossier City meetup. I think @Lee Nugent used to run it but he lives in Florida now so I am not so sure about the details 

 Thanks @Stephen Keighery; yes there are a few groups in NorthWest Louisiana; if you connect with me on Facebook, I'll get you into the groups. My socials can be found at dot.cards/rewithlee

Post: Looking for a property manager in Shreveport

Lee NugentPosted
  • Investor
  • Naples FL and Shreveport, LA
  • Posts 90
  • Votes 39
Quote from @Trey Aker:

Hi Stephanie, I'm an agent/investor in Shreveport, but don't do management. Reach out to @Lee Nugent at Titan Property Network for management. He and his team have many homes they manage in the Shreveport/Bossier City area. 


 Trey, thank you for the referral!

Post: Full day Real Estate Seminar

Lee NugentPosted
  • Investor
  • Naples FL and Shreveport, LA
  • Posts 90
  • Votes 39
Quote from @Matthew Romero:

Lee is knowledgeable and extremely helpful.  Has helped me link with other RE professionals in this market.  This should be a great event! 


 Thank you!

Post: Full day Real Estate Seminar

Lee NugentPosted
  • Investor
  • Naples FL and Shreveport, LA
  • Posts 90
  • Votes 39

Good morning everyone. I admittedly don't post on here as much as I could, however I wanted to share an event that I'm hosting on 2/25 at the Bossier Civic Center. It will be an all day Real Estate Investing Seminar, and I'm providing lunch for attendees. Real Estate has done so much for my wife and I, and I enjoy sharing information that I've gained over the years.

This isn't going to be some seminar where I tell you that I'm doing something then try to sell you on a course of how to do it. This is going to be like drinking from a firehose; a lot of information is going to be shared that day. You can follow me on any social platform and find out more about my story (started in 2015 with 6k, and have grown this into numerous businesses related to real estate, everything that I teach is something I actually do; I don't share theory because there's plenty of that out there).

The topics covered will include:

  • The FAQ of REI
  • Wholesaling – a simple approach to investing
  • ARV – After Repair Value, how to calculate this
  • Estimating repairs (Can't calculate ARV if you don't know rehab costs)
  • Rental properties – How to analyze, purchase, and manage
  • Flipping houses - How to analyze and purchase
  • Finding deals – various methods we use and how we approach the deals
  • Negotiations – Real scenarios of negotiations and how we overcame the challenges
  • Funding deals – a no BS approach (Yes, including a net zero out of pocket strategy)
  • Understanding the funding – Transactional lending/Private Money/Hard Money/Bank money
  • Working with contractors – the good, the bad, and the ugly
  • AirBnb Multifamily hack
  • Property Management – Real situations we have encountered and worked through

There's only seating for 150 people, and I need to lock in the head count to be able to have catering ordered for everyone. I'll include the link for the event to get the tickets; make sure you select the General Admission ticket for the free ticket. Quick note, I am charging a refundable $25 deposit to hold people accountable. What that means is, I've held free events before with limited seating, and people are quick to claim a ticket, yet find something else to do on the day of the event. Not only does this put a lower attendance out, it also stops others that would join from being able to attend. The $25 is refundable on the day of the event after checking in. It's all handled through Eventbrite and they charge a small fee for the tickets that I won't reimburse. For the complainers, If you can't spend a few bucks for a day of Real Estate Education and lunch being provided, this isn't a room that you need to be in anyway.

Check out the event, and if you have any questions feel free to reach out.

https://www.eventbrite.com/e/b...

Post: Introductory post & a little guidance needed

Lee NugentPosted
  • Investor
  • Naples FL and Shreveport, LA
  • Posts 90
  • Votes 39

Hey Daniel; connect with me and I'll send you some local resources for meetups in Shreveport/Bossier

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