Real Estate Investing

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Comment by Leonard Knight on December 1, 2009 at 4:17pm

How about some periodic meetings for Real-Estate investing? Maybe sub-groups for Single-family, Multi-family, Commercial, Industrial, Development, Flipping, etc. What do you think? I'm up for setting up a regular meeting to discuss Real-Estate.

Comment by Leonard Knight on June 30, 2009 at 10:07am

Any successes lately? Tell us how your real-estate investing is going.

Comment by Leonard Knight on March 30, 2009 at 3:03pm

I just spoke to Kevin Hill about an investment opportunity in South Knoxville. An investor is wanting to sell 20 adjacent rental properties as a package. Sounds like single family homes. I didn't get too many details.

Kevin is ball parking $1,000,000 to buy the 20 properties. They are cash flowing currently. He wants to know if any of us are interested in forming an LLC to acquire these 20 properties. We will evaluate them for a good offer price at today's rental income.

Kevin is planning on appreciation of the properties as he moves forward with his partners in a revitalization plan for South Knoxville.

Kevin was referred to me by a very trusted friend.

If you want to discuss more, give me a call 865-384-6481 or talk to me Wednesday after the EOK meeting.

Leo

Comment by Leonard Knight on January 17, 2009 at 4:19pm

Team,

Thought you might find this map interesting.

RealtyTrac reported this week that in 2008, the U.S. had a total of 3,157,806 foreclosure filings — default notices, auction sale notices and bank repossessions — on 2,330,483 U.S. properties. This was an 81% increase over 2007, and a 225% percent increase from 2006.

The report also shows that 1.84 percent of all U.S. housing units (one in 54) received at least one foreclosure filing during the year, up from 1.03 percent in 2007.

Comment by Leonard Knight on November 12, 2008 at 4:44pm

Commercial space opportunity similar to my building in Sequoyah Hills. Small shopping center in the middle of Tellico Village. May be able to buy it for $1.5mm for a 10+% cap rate. If you're interested, let me know tomorrow at our meeting and I'll get you some more information.

Comment by Leonard Knight on November 10, 2008 at 12:32pm

A followup meeting with Genesis Rock, EOK REIG, Builder and Architect is scheduled for this Thursday, November 13th at 11:00 a.m. at the co-working space in Sequoyah Hills.

Comment by Leonard Knight on October 13, 2008 at 9:17am

A few of us met with Russ Smith after our meeting Wednesday. The Genesis Rock project of building neighborhoods was intriguing to everyone. Several good questions were raised. The plan is to schedule a meeting with all the investors, Russ, Russ' builder and architect, and an attorney or two to move this opportunity forward.

Any suggestions for Times/Dates?

Comment by Leonard Knight on October 7, 2008 at 7:57pm

No date for meeting yet; I could meet tomorrow after our general meeting or next week after our general meeting.

Comment by Ronnie Wilson on October 7, 2008 at 7:08pm

OK...any time/date set yet?

Comment by Leonard Knight on October 7, 2008 at 5:04pm

Start something similar in Knoxville. Genesis Rock has access to 13 lots currently with plans to acquire others in an effort to build neighborhoods. The plan is for a group of investors to invest $50k to cover the lot and construction of the house. Then, the investors can sell or rent the house. Genesis Rock will be working with family to help them buy the newly constructed homes for $100k. The investors profit $50k but contribute $10k back to Genesis Rock (a non-profit organization) as a charitable gift. The investors net $40k per house. This is the plan as it was pitched to me...I have several questions myself and hope several of us can attend this meeting to find more details.

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