All Forum Posts by: Taylor Vick

Say I bought a property in June 2017.  I then enter into a Bond for Title contract with someone October of 2017.  The person gets a traditional loan and pay me off in December of 2018.  Would this be treated as long term capital gains since the deed did not transfer til over a year later?  Thanks!

On MLS, but here is the Zillow

https://www.zillow.com/homes/for_sale/Greenville-S...

The market where we are has been very hot lately. We purchased a Townhouse style condo at market price in early June. It is in a great area that has been overlooked for many years - we think the area has a lot of potential. All in all, the price was very low. It had not been updated since the eighties, and even for that time it was sub par (W/D in kitchen, half size appliance, etc). We spent a few month making it very modern and attractive - moved W/D upstairs, new appliances, removed walls, refinished hardwoods, granite, new cabinets etc. This is the first condo in the development to be modernized - not a single updated one has been sold (but all look good from the outside - all brick). For our ARV we used townhouses in the adjacent developments that are slightly more modern, but priced below those.

All of the buyers realtors are looking at the previous sales in our development as comps, and saying we are over priced. More specifically, they are worried that the appraisers won't give full credit for the upgrades, and will not / may not look outside of the development to find comps (even though the others are less than a mile away). We had a girl who was head over the heels about the place at our open house, but her realtor has advised her not to put it under contract because he is confident it will get a low appraisal due to the appraiser only using in project comps (he also mentioned that it is a VA loan, and they are very strict about staying in the project).

I also believe that the realtors are not even showing this to their clients because of the above reason (though we have had about 4 showings). Do we have options besides lowering the price? We are on MLS with a flat fee agent ($200 to list and comply). How far should we lower the listing price? I am ok with a modest profit, especially because I have found an 8 plex I want to roll the money into, but I do not want to change the price too drastically.

Or should we just move to our second exit strategy - refinance and rent?  Thanks!

See my above reply for how we have attracted investors thus far.  It is a monthly cash flow structure - we purchase centers with strong, long term tenants.  We leverage the purchase 75 - 80% and get some interest only financing to boost cash flow.  We then pay the investors monthly; about 90% of free cash flow.  I won't go into to details on compensation, but I appreciate the questions.

Great Idea! 

The basic method thus far has been:

1. Casually tell everyone I know what I am doing 

2. Make note of those interested

3. Reach out directly to other people I know who may be interested in such an investment

4. Have a quarterly investor presentation where we showcase our portfolio and strategy.  Our brokers, current investors and potential investors are all invited to the meeting.  At that meeting there will be new properties we would like to acquire, and we give a specific amount of money we are trying to raise.

Good Morning,

I currently run an investment fund that invests in commercial real estate.  We have raised about $6mm in capital thus far through friends, family and close business contacts.  How do we best take this to the next level?  What are your tips for fundraising?  We have an investment minimum of $250k, and hope to eventually grow to $25 - $30mm in capital.  To clarify, I am not asking for investors or advertising an investment.  I am looking for advice on how to fundraise.  Thanks!