All Forum Posts by: Adriese Williams

Are they a good tenant? Do they take good care of your property and pay on time?

Those are some things to consider, just like good credit gets you a better interest rate,

In my opinion, I don't punish good tenants with rent increases.

Greetings,

I have two deals under contract,looking for private capital.

I am an experience real estate investor/landlord in the southeast ( NC and SC)

6-12 month terms @ 6-8% interest only

You have to be a member, if you are easy applying online, many options 

https://www.ncsecu.org/Mortgag...

https://www.landlordlegaladvis...

910-302-7094

773-951-7757

Larris Hutton

You get certified with your local housing authority,you vet the tenants the same way you would any tenant, The upside is guaranteed income every month, your property needs to pass Sec 8 inspection, (Everyone needs Clean, safe housing). I've been a sec 8 landlord for 5 years, the trick is to get good at vetting tenants.

Picture is before rehab, used a local contractor from one of my previous rehabs, will refi hopefully this summer if we get a rate drop, otherwise I'll wait until december, currently rented to 1 tenant, This is the after pic. New floors, windows, appliances, bathrooms , HVAC and kitchen

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $74,000
Cash invested: $12,000

4/2 walking distance to local college, brought and rehabbed with hard money, rented out for $1,300 per month, cash flows about $450 per month

What made you interested in investing in this type of deal?

Close proximity to the local college, big house, good bones.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Hard money

How did you add value to the deal?

Rehabbed

What was the outcome?

Leased with a paying tenant

Lessons learned? Challenges?

Everything when relatively smooth

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Kiavi Hard money lender

I own a property in my single member LLC. I want to sell it to my spouse, she's using bank financing. I'm paying off some debt with the proceeds. She's buying in her personal name. We live in North Carolina, any potential problems?

Thanks

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $74,000
Cash invested: $14,000

4 beds, 3 baths single family, I will rehab and turn into student housing. Located in a small town in South Carolina with 2 universities. Used Hard money and some private money to help with rehab.

What made you interested in investing in this type of deal?

Already own 1 rental in town, college town, interested in student housing

How did you find this deal and how did you negotiate it?

MLS, made offer

How did you finance this deal?

Hard money and some private money

How did you add value to the deal?

renovating, updating floors, exterior, paint, windows and doors

What was the outcome?

Just starting the renovation 1/23

Lessons learned? Challenges?

will update

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Kiavi hard money

Investment Info:

Single-family residence buy & hold investment in Hope Mills.

Purchase price: $64,000
Cash invested: $36,000

2/2 on 1/2 acre, light rehab, will hold and rent, then refi. Got my brother to go in half with me.

What made you interested in investing in this type of deal?

I like the area, I own several rentals nearby

How did you find this deal and how did you negotiate it?

Online Auction, only bidder

How did you finance this deal?

My cash and partnered with my Brother

How did you add value to the deal?

Trash out, new flooring, paint,HVAC
May use extra land for RV rental or Truck parking

What was the outcome?

Will be ready to rent 11/1/22 looking at $1,200-1,300 per month

Lessons learned? Challenges?

None really, done this several times, 1st time investing with family

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

All cash, Becton law firm in Durham,NC to close it up.