All Forum Posts by: Jason Carter

you may take this with a grain of salt since I am not an operator/syndicate.

 In the description, you would be taking a percentage off the top with your acquisition fee/brokers fee but no skin in the game on the GP side if you are not taking returns. 

Sounds like you would have to find an operator to promote and bring you on as broker/ property manager outside of the GP. 

Would it be possible to pay the returns that investors are looking for at a 5 cap?

@Scott Smith in Austin specializes in asset protection with an llc and other asset protection means. I've heard good things about 

http://www.lonestarlandlaw.com/ . Great resource for information on asset protection on their site as well. 

things I would consider - Am I happy with the cash flow?(looks like you are close to the 1% rule. .77% of rent to purchase price). If you happy with the cash, why sell? remember you are not paying the mortgage of a 375k house but one of around 190k. 

If I 1031, can I find another good investment in 45 days and close in 180 using all of my gains? 191k -375 = 184- closing etc. Using all 170k  into new cash flowing property.

 Looks like you would be around 25k in capital gains tax at the end of the year if just sold outright. 

Or you could cash out refi or use a heloc to get cash out to buy another rental.

for the actual build , the cheapest i've heard of is 110 per sq ft. including non AC space eg. garage space. This is a budget builder and poor finishes and brick will push that number up. There are many other costs such as sidewalk fees, trash, permitting, tap plans, architectural fees, surveys, landscaping, toilet rental silt fence, site work etc.. If you use a lender that would let you GC yourself or use cash, you could save 25-30%

Thanks @Cynthia McMillioan

We are dealing with COA. Just wanted some insight into the process from someone that has pulled them or a referral to an expediter that is familiar with the condo process. 

@Ross Trampler

There is a networking lunch every week at Big Daddy's. It starts at 11:30. Harold and Esmeralda

Linda and Andrew at Homes for the Win have monthly meetups. They are great folks. 

I second @Nasar Bhegani on the IU meet up at Able's. They will have sales pitches but it is a great networking event. Dan Castro (RE Attorney/Investor )and Danny Webber are a great value to our RE community.

WIN network on south lamar is focused on fund raising, deal syndication and crowdfunding. Held at Mercury Mambo. Bryan Hancock, John Blackman, Uriel Castro and Lamar Cannon.

Central Austin Real Estate meetup is an original BP community meet up at Mercury Mambo. They Discuss many different aspects of RE investing. Hosted by Lynn Currie. Her focus is New Construction.

Apartment investing meetup every Tuesday at flying saucer 11:45 - 1:15. Hosted by Phil Trietsch. 

Has anyone pulled permits for a condo in Austin? Apparently this condo is subject to the International Building Code and not eligible for the International Residential Code. 

We have never pulled permits for a condo and would appreciate any insight or a referral to someone experienced in pulling permits for condos. 

Welcome Jim,

Feel free to message me anytime to chat.

@Jeremy Wilken

Welcome to the BP community. This is a great place to start-

https://www.meetup.com/Austin-Apartment-Investing-...

There is an apartment investing meetup tomorrow and every Tuesday at Flying Saucer.

Great recommendation by @Bruce Petersen. Loopnet is usually a place where junk ends up but the great part about it is that it lists all of the brokers in the commercial/multi-family industry. 

You can do it the old fashioned way and send yellow letters, knock on doors or phone calls. You can usually find most owner/LLC information on the Travis county clerks website.

Holt Carson is reasonably priced. You might be able to search county records for a previous survey or contact the original title company that the property was originally closed at.