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All Forum Posts by: Account Closed

Account Closed has started 63 posts and replied 1980 times.

Post: What other markets have $100K+/- spread on rehab flips?

Account ClosedPosted
  • Full-Time Investor
  • Charlotte, NC
  • Posts 2,280
  • Votes 1,562
Chris, is this part of town 'up and coming'? It seems every city has a five points that is gentrifying

Post: Latest New Construction Spec Development in Charlotte, NC

Account ClosedPosted
  • Full-Time Investor
  • Charlotte, NC
  • Posts 2,280
  • Votes 1,562
Kenneth Bell , please check them out. If you want, let's grab coffee. Nate Green thanks for the kind words. This has been a fun project and I've learned a ton :)

Post: equity partner with a builder

Account ClosedPosted
  • Full-Time Investor
  • Charlotte, NC
  • Posts 2,280
  • Votes 1,562
Marina, Did you mean to say the builder will pay 50% return on your money, or that he will pay you 50% of profits? An equity Invesor would imply a split of profits...

Post: Latest New Construction Spec Development in Charlotte, NC

Account ClosedPosted
  • Full-Time Investor
  • Charlotte, NC
  • Posts 2,280
  • Votes 1,562

@Ryan R. , I hired a design team to handle the floor plans and facades. One design team handled the first 2 specs, and a different designer handled the 3rd one. Although, I will I say I had a ton of input, as the original design team rents office space from me, so I bother them constantly :)

@Karen Margrave , Thanks for the compliments! I know from previous posts that you are a fan of craftsman style homes :) The first two were 2,200 sq ft and sold for 350k each. The last one is 1,600 sq ft and was listed at 285k, and is currently under contract.

@Qulia Brunson , I bought the property in late August. Dealing with demolition, subdivision, bringing in utilities, getting plans drawn up, and then approved by the county was quite a process. I didn't start construction until December.

C Coley Mitchell, It's close to Midwood on the edge of NoDa, the arts district-- hence the bold exterior colors :)

Post: Latest New Construction Spec Development in Charlotte, NC

Account ClosedPosted
  • Full-Time Investor
  • Charlotte, NC
  • Posts 2,280
  • Votes 1,562

This was originally a vacant rental on a corner lot, fronting a busy road on the edge of a desirable infill neighborhood in Charlotte. Since the lot was so long, we were able to rotate the frontage along the corner 90 degrees, now making 3 lots on a side street inside the neighborhood.

We have sold and closed on 2 of the specs for full price! Here they are below:

As you can see, the third is under construction, but already under contract!

Post: Charlotte REIA

Account ClosedPosted
  • Full-Time Investor
  • Charlotte, NC
  • Posts 2,280
  • Votes 1,562

Hey @Paul S. . Good to meet ya'll and glad ya'll enjoyed the meeting! Make sure you plug in with sub groups as well, as that's where the real networking happens. We have a Lake Norman Group meeting this Thursday. @Jack Knochel is the group leader, so maybe he can shed some light on the presenter! Hope to see ya'll there :)

Post: Looking for big deductions to close out 2013

Account ClosedPosted
  • Full-Time Investor
  • Charlotte, NC
  • Posts 2,280
  • Votes 1,562

I need a vehicle anyways. May as well do it right and get the deduction, no? is there a better alternative?

Post: Looking for big deductions to close out 2013

Account ClosedPosted
  • Full-Time Investor
  • Charlotte, NC
  • Posts 2,280
  • Votes 1,562

Yes, I believe so. The link below is a list for 2014 eligible vehicles ( I haven't checked each one on it-- only the one I'm buying--so double check to make sure it's elgibile)

http://www.selfemployedweb.com/section-179-eligible-vehicle-list-2014

Post: Looking for big deductions to close out 2013

Account ClosedPosted
  • Full-Time Investor
  • Charlotte, NC
  • Posts 2,280
  • Votes 1,562

Does the truck have to be titled in the name of the company?

Post: Latest New Construction Spec House in Charlotte, North Carolina

Account ClosedPosted
  • Full-Time Investor
  • Charlotte, NC
  • Posts 2,280
  • Votes 1,562

Kenneth, thanks...As you know increasing prices lead to expanding neighborhoods...but I consider this part of Plaza Midwood (It's on Mecklenburg Ave.) I'm currently building in NoDa, a few in Midwood, Cotswold, and Myers Park. I did one project with the HDC and they can be a pain..which is why I haven't done another so far :)