All Forum Posts by: Ryan Toth

This is good. Thanks

Charleston is a rapidly growing market and a wonderful place to live. Depending on where you look properties can move pretty fast, so getting a deal can be challenging. Can't speak for FL though. I imagine it would depend where exactly in FL you plan to be and exactly what niche your planning on getting into.

Hi BP,

In 2012, my wife and I bought our first house. An amazing property in a really convenient area. Fast forward a few years and some new opportunities have brought us south. We moved from NY last August. 

While I have a tenant who is getting ready to sign a new lease, the property isn't doing anything for me financially and is more of a tie-down to NY than a great rental.

I'm seriously considering selling it if I can find a buyer who is more knowledgeable about the local market to flip it, or someone seeking a buy & hold. 

It's a 4 bed (with an office) 2 ba bi-level in New Windsor, NY on 3/4 ac with a single car garage. Heated tile floors in upstairs bath and downstairs, wood floors up top, granite counter tops, central ac (2 units), heated garage, crown moldings, the list goes on.

I'm just looking to break even on my end and walk away unscathed. 

Ryan

In my opinion the concept sounds viable. My only warning would be the complexities of managing people. As a manager yourself, I'm sure you already know how time consuming people management can be. With an industry such as pizza franchises, I'd wager you'll find yourself dragged into the day-to-day, at least until you can find a solid group of employees. And then there's the fact that any employee worth the time and effort will eventually move on to greener pastures. Especially since you won't have the existing corporate structure to allow for vertical or even lateral movement at first. 

Additionally, in order to be approved for the franchise you'll probably have to commit a decent amount of your current time to training and development. These places do well because they have extensive training programs aimed at providing a baseline for success.

Having said that, I hear Papa John's is virtually giving away franchises at the moment so it's a worthwhile consideration. On paper it's a great way to reduce overhead and drive the bottom line (as long as you're not holding too large of a note).

@Melissa Searing have you read up on "house hacking"?

I'm no expert in flipping but have seen lots of topics on the subject. 

@Jay Hinrichs

Well said. It's an exciting time to be in Chucktown.

Hi All,

Tonight I listened to Brandon Turner's intro to BP webinar and decided to go Pro. One of the thigns he mentioned was helping out. Even as a newbie. Well, I am not experienced in RE yet, but wanted to share with you some things I am good at. Perhaps, someone might find use in it.

One of the things I seem to have a knack for, which applies more than likely the most to BP, is writing business plans. I really dig into the research side, love spending time pouring over the numbers, and do have a degree in organizational leadership & communication - so someone smarter than me says I can write. 

I am also a manager of people and have studied a variety of ways to deal with people in conflict, behaviour modification, and expressing difficult ideas clearly without creating conflict.

Should any of these things be of need to you, feel free to reach out and I'll do me best t lend a hand. 

Ryan

So I'll expand on this and ask some questions.

One of the parcels we have been looking at (500 ac that is part of a larger 5600 ac tract) was singled out a really good potential site. Very few wetland pockets, some of which actually creates a natural buffer between the road and the site, access from 3 sides, elevation changes of about 70-80 (which is good for this project). Additionally, it has a deed logging road, and has a transmission line touching the property in two spots with 3 phase power.

Today the broker got back to us after we asked about solar power potential and he says the substation is away from the site (about 4 miles). That solar would not be an option.

Question is, with the substation that far away, is the getting power to the site even feasible? Or simply not budget friendly? My initial thought was to contact the utility provider to see if they would like to place a substation on the land after we purchase, yet realize that suits my needs probably more than theirs.

Thoughts?

Ryan

Thanks for the warm welcome gents!