BiggerPockets

Hi
I am part of a small syndicate looking to buy single family houses in NC.
Ideal target area is Raleigh, however will consider elsewhere
Key criteria:
1. Must be in a city of > 100,000 population
2. Must be in good first home buyer area ie not a slum
3. Minimum 950sqft house size
4. Purchase + Reno estimate <= 60% After Repaired Value
5. Raleigh ARV to be less than $200,000, ideally in the $125-175,000 range.
6. Free standing houses only

We have financing confirmed and can settle within 28 days (faster if it is a screaming hot deal).
We are not wholesaling and are the END BUYER i.e. we will take title and pay

Either post details in this thread or message me
Thanks

Hi Alice

Thanks for your reply.
I am working a couple of offers at the moment that are looking promising and are in the Raleigh area. They are under 60%, so it appears to be all in how the offers are structured. :-)

The criteria above are our Guaranteed buys. Feel free to show us stuff that is similar, however we will need to look closely to see whether we can make the deal work.

UPDATE 17 Mar 09:
Contracted 3 of the offers at 59%-60%, houses in Raleigh. So it is definately possible. Still after more deals though :-)
Happy investing

Originally posted by Curt Davis

Chris,

Let me know if this is something you would be interested in. It is in Charlotte.
http://investornation.vflyer.com/home/flyer/home/2229507

Potentially. What is your estimate on ARV?
I don't have a rehab team set up in Charlotte, so it would take me a little longer to get the deal closed.

Thanks

Hi Sondra

Some of the zip codes we are looking at are:
Target Zip Codes
Raleigh, NC
27601
27603
27604
27605
27606
27607
27608
27609
27610
27611
27612
27616

Originally posted by Donna Manago

Hi Chris, wondering if you're interested in Rocky Mount. Let me know, thanks! Donna

Hi Donna

I have no idea where that is. Please give me Zip Codes and State

Many thanks

Originally posted by Donna Manago

I'm sorry! It's in North Carolina, 27801, a little small at 900 sq feet, though. I also have something in Durham, 27707. If interested, just message me what info you need. Thanks! Donna

Hi Donna
Thanks for that. Not interested in Rocky Mount for 2 reasons -
1: Population concentration looks too small.
2: House size too small

Re Durham
PM or email me the following information
1: Property Address
2: Property description i.e. #Bed/Bath, Size of house, size of land, summary of condition. List of repairs required to get house to sellable condition
3: Estimated cost of the repairs
4: Estimated Value if Repairs done

Many thanks

Hi Donna

Thanks for the info.
Neither house is of interest to me. The Durham property is in too run down an area (appears to be off a gravel road)
I prefer areas where first home buyers want to live.

The second property is too far away from where my rehab teams are. I am looking to stay in the Raleigh/ Durham areas

Many thanks

Chris,
I am a Realtor and part time investor in the Raleigh-Durham area, Raleigh may be a little tougher, but if you move toward Durham NC and RTP you may find better luck. How many properties can you handle at once? I also have a strong renovation team in place here in the area. PM me and lets see if I can help you and we all make some money. I guarantee I am not here to waste your time. I am also familiar with the Rocky Mount and Charlotte areas as mentioned in previous responses

Originally posted by Maurice F

Chris,
I am a Realtor and part time investor in the Raleigh-Durham area, Raleigh may be a little tougher, but if you move toward Durham NC and RTP you may find better luck. How many properties can you handle at once? I also have a strong renovation team in place here in the area. PM me and lets see if I can help you and we all make some money. I guarantee I am not here to waste your time. I am also familiar with the Rocky Mount and Charlotte areas as mentioned in previous responses

Hi Maurice

I have an buying agent I am working with in Raleigh that I am happy with. I will consider better first home buyer parts of Durham and RTP. Bring me a potential deal.
If you bring me something that meets my criteria I will buy.

Originally posted by Eric Clark

Could you do 10 exclusive SF properties in your area with your requirements at 65%LTV?

If the 65% INCLUDED rehab estimates, maybe. Would have to be prime properties for all 10.
Best PM me more details e.g. zip codes involved, purchase price, est rehab, est ARV on the package and I will let you know in principle. Would need more detail on each property to make a final decision