All Forum Posts by: Steve A.

Being in NC you may want to review the "Home Owner Home Buyer Protection Act" and its revision as it relates to an Option to Purchase Contract Executed with a lease Agreement.

Yes, I set the purchase price in the "option" at the top of today's market value. An appraisal is a lender requirement and isn't completed until the option is exercised, typically.  If the appraisal is lower, the Buyer can still purchase at the higher price.

Yes to all those; and the true value is what someone is willing to pay.

How can anyone determine the market price in the future.  You can't.  When setting up your sandwich the price is set at today's value.

Hey Dave-

One 12 hour class to complete and I will be there :)

Thanks MC, Had a good chat with Andre and I didn’t even hang up on him. How do you like that? hehe!

Lease Options are great in NC and there is no need to work around those pesky regulations, better to do it correctly and comply. We are investors not attorneys. Let the attorney do the dirty work and we can concentrate on getting the deals.

Jason-

It's a Seller's market here.  Good for Sellers and tough for Buyers.  Lower inventory the past few years, resulting in higher prices.  This spring nice houses in good areas average being on the market 14 days.  A lot of buying competition.  The demographics are the current reason.  Many are moving here from out of state, yet new residential construction is stagnant.  Rentals are hot and that is where the investment market is, buy-and-hold.  Cash is king here, more so than creative financing.

The areas you asked about are older more established markets.  Old Irving Park & Fisher Park are upper end homes not your bread and butter properties.  Brice St. is close to the university which may be a plus for student rentals.  Guilford Hills is more your average priced homes, but still older, and Sunset Hills has a mix but mostly upper end.

All the niceties of down town have been a long time coming.  The biggest thing happening is the Tanger Center for the Performing Arts .  It should be completed next year and Greensboro will be hosting Broadway shows which will put this city on the map for sure.

Jason I have lived and been an investor here in Greensboro for over 25 years and I am also a licensed broker.  I am Investor Friendly so let me know if you need anything or need more info. on a property you find.

Steve

I own Triad Management & Realty and personally broker Property Management here in the Triad for the past 26 years.  I consider myself a licensed investor and understand the importance of cash flow for those I work with :) 

I sell, buy & lease for myself and others as a investor/broker.  And I work hard for owners/investors to cash flow their properties and minimize expenses as a PM.  It's much harder work being a PM than selling & buying.  A good PM is hard to find and it's a relationship you want to keep.  I guess it comes down to loyalty and the PM knows the property and the local market.  I hate to see an end to a property I manage, and as a PM, I appreciate the owner and will work just as hard when he allows me to sell it for him.

Use your PM