All Forum Posts by: Timothy Doenges

Hey, I see posts every day for people looking for value add investments in multi family. I hear about it everywhere on the podcast as well. But it’s made me curious, is there any value in building new multi family? This could come out of a place of naïveté, not knowing cost of construction on larger buildings like that, but is it possible to build new complexes and still cash flow like you would in a value add situation?

Derrick E. You got it, man. I’m down in the Summersville / oak hill / beckley area primarily 😀 This area seems to finally be recovering socially from drug epidemic / 2008 crisis. I’m loving what I see down here.

Good morning! I’m finding that West Virginia is a bit of a “final frontier” for real estate investing. I see some RE investors, and there are a few people I know who are tech-savvy here, but I can’t think of anyone that do both well. I’m currently working with a wholesaler on a smoking flip deal in Fairmont in a desirable location, close to the aerospace/NASA sector, likely a 35-50k profit, but we just can’t find a buyer to work it or a GC to manage it, and it may fall out because of it. My goal is to be “boots on the ground” for out-of-state investors for the entire sector from Fairmont/Morgantown to Princeton/Bluefield/Beckley. I have a GC that is hungry and would like to grow his business; I have my RE license and can get the green-light from my broker to start property managing in the future; and I just met a mortgage loan originator that is also hungry and creative (and can do 90% LTV on construction and renovation loans, 15% down, commercial). I think we are on the cusp of something amazing in central WV, but just need to find some people interested in being the “first in.” Any innovators or early adopters ready for some killer opportunities, feel free to connect with me!

Welcome! I’ll send you a PM in a few.

Hey! I’m currently in the same situation. I don’t have a ton of input on the structure of partnerships vs private financiers, but I can say that with an all-money no-REI knowledge investor, lending might be the best way to go. That being said, I’m following this discussion to glean as much wisdom from the greater BP community as possible. Great question!

I don’t know Princeton too well, but I can recommend in the Beckley area (1 hr away). Would this work?

Will PM when I get to my laptop.

Welcome! Real Estate agent with Re/Max in Summersville/Fayetteville area of WV. Next time you are around the Gorge, holler at me and we’ll grab lunch!

Hello, and welcome to BP! I’m here in WV, down near the Beckley/Fayetteville/Summersville area. What kind of REI are you into / interested in?

Pm me - I’d love to help!