All Forum Posts by: Curtis Waters

Contact info in my signature line!  Thanks @Audrey Truesdale & @Tomas Chao

@Victor Mena - B2R Finance, Lima One Capita, FirstKey Lending. Lending based on credit score. NOI divided by debt service must be 1.25 or greater. LTV 70-75% max based on appraisal.

Hobby Millionaire Charlotte (find it on meetup.com).  Focus on buy & hold & members working within the group.

If you have a decent credit score there are private lending companies that focus on rental loans.

NC Realtors have a lease that meets state law requirements.

For my rentals I use a lease prepared by James Surane (located in Cornelius), a former county Magistrate who served in eviction court.  Paid $250 for lease but it covers everything Surane & his team of associates (also former magistrates) have seen in eviction court.  

For closings - recommend Elizabeth Blake, Harry Marsh, Dale Fussell

NC Realtors have a lease that meets state law requirements.

For my rentals I use a lease prepared by James Surane (located in Cornelius), a former county Magistrate who served in eviction court.  Paid $250 for lease but it covers everything Surane & his team of associates (also former magistrates) have seen in eviction court.  

Thanks @Tomas Chao for the recommendation. You can get a 9-12 CAP (Annual NOI divided by purchase price) in Charlotte. Ensure that you buy units with little deferred & defined maintenance, or get and maintain an appropriate reserve. Note that these returns are hard to get in Class A or B areas, but Charlotte is undergoing massive changes that are changing neighborhood dynamics.

@Jordan L. - contact me if you want to discuss Charlotte rental properties.  My contact info is in my signature line.

I know of SFH & duplexes in Charlotte on MLS with a Cap rate of 9-12% (NOI/acquisition price). Some have had significant rehab lowering your risk of deferred maintenance.

Are you looking for buy & hold or fix & flip?  Neighborhood selection will impact both on & off market inventory.

I have done business with Elizabeth Blake, Harry Marsh, Dale Fussell.  

Not my experience in the Charlotte NC market.  Usually earnest money but not DD.  You get earnest money back if you terminate during the inspection/due diligence period.  Note that the due diligence period doesn't require a due diligence fee paid - everything is negotiable!

An investor making an offer on an off market property has great leeway in negotiating favorable terms.