All Forum Posts by: JJ Mayer

Hi @Joey Arrazolo - how did your build go? any lessons learned? would love to hear your story as I'm thinking of building multi-family, too.

Guess, I've been chicken, but I never pulled the trigger. We did go down and tour MemphisInvest and check out some properties that were in various states of rehab. Overall, I walked away impressed, but neither the pro forma nor my leveraged estimates gave me a clear CoC Return that was strong enough to jump.

Now I've been sitting on my cash for too long and perhaps I should have just got in!  :-(

@Markeilsha R.  ...so were you satisfied with searchq.com?

Curious where this landed... I'm bidding on Auction.com and wondering the best way to validate if there are (or not) any liens against the properties?  What did you end up doing?

The 3 Property Package - Two all brick, ranch style homes(4/2, 3/2, plus one condo (2/1)

We think we can sell the properties individually for $400,000, but we've agreed internally to give a buyer a small discount for buying all three properties as an investment package (maybe $390,000).  Tenants pay all utilities. Long-term contracts (3 yrs) in place for 2 of the properties. The condo is freshly remodeled and rent ready for max rent.  At $400,000, this deal offers a fantastic annual 28.0% return.

The Pro Forma

At $400,000 the Cash-on-Cash return is fairly valued by the following...

My partners and I are about to start advertising a 3-property package, and this will be our first time to trying to sell to other investors (as opposed to marketing to traditional home buyers).  

We are looking for your advice, as investors, if this offer seems attractive.  Would these #s make you interested?  Should we try to raise the price?  

Any advice is truly appreciated!

Doing our first 1031 exchange, where we are selling a package of 3 single-family properties, which we hope to turn into 3 or more turnkey properties. Currently, all 3 properties are held jointly (and equally) by 3 individual partners, not as an LLC.

When we purchase and finance the 3+ properties on the back-end, we want to structure our deals to maximize the # of traditional mortgages that we can get between the three partners.  Questions:

1. If we get three new properties on the back end of the exchange, can each new property be financed under only one of the partners names?
2. From a 1031 perspective, do all of the purchased properties have to be held in all 3 partners names?
3. If Partner A takes out the mortgage for any of the properties, does holding the deed in all 3 partners names cause any issues for the mortgage company?

Any advice is truly appreciated.  Thank you!

Quick update - still strongly considering Memphis Invest, and planning a trip down to Memphis for a little due diligence/networking in the next 30-60 days.  

In the meantime, we have 3 properties for sale (off market) that we will exchange (1031) into a turnkey investment.  Hoping they go quick!  :-)

@Ryan Budil - Curious, did you ever have further conversations with North Peak?  

(I visited their site, as an accredited investor, and asked for more info on Monday.  It's end of day Wednesday and I haven't heard back)

@Llewelyn A. - good questions that I would also to see answered

Also, would love to see more folks name names - meaning which TK providers have you had good experiences with?  and which ones have underperformed expectations?