All Forum Posts by: Brian Corbett

Is there are REIA in Greenville? I would love to make this meeting but will be out of town. Maybe next time.

Hello,

I am in Greenville, NC and would love to talk real estate with each of you.  Let me know if you want to chat or have a meeting sometime. 

@Peter K. I am very familiar with the unit that you are speaking about and your numbers are dead on. Personally, I would not buy a negative cash flowing unit just because it will stay rented (hopefully). I can assure you, with the right property manager, your vacancies can be minimalized. The HOA is terribly expensice especially since it doesn't offer any real amenities to the tenants such as pool, tennis, etc. These amenities are not too beneficial to an investor except they can help increase the rent amount. Without the amenities, I don't see the rents getting much higher than they are now.

Yep, just list them separately and make sure the closing attorney catches that as well.  Shouldn't be an issue at all.

Have you considered a commercial loan to purchase a property?  Some of these loans are attainable the same way a traditional mortgage is obtained and can require a little less in downpayment.  I have been getting 15% downpayment with a local bank here in Greenville, NC. 

Have you considered a partner to help with the downpayment? 

Good plan.  Now, you just need to put it into action and stay focused on the goals!

Just sent you a PM

Greenville is a great rental market.  With the steady growth of ECU, Vidant Medical Center, and the Brody School of medicine rents in SRF have increased over the last 2-3 years fairly steadily.  Let me know if you have any further questions or would like to talk locations, specific rents, properties, etc. 

It is high for Eastern NC as well.  Although, there could be more to the story such as removing wallpaper, repair sheetrock or plaster walls, etc.  Does it include trims and cabinetry? Are you changing colors?  

All of these can factor into a painters estimate.  I would definitely get 3 bids from reputable painters just to keep everyone honest.  

Don't let them move in.  This will most likely be a continuous problem that you will regret working with them on.