All Forum Posts by: Davis Evans

We had a dating couple living in our property. At some point, the girl moved out but we never received documentation from her asking to be removed from the lease. The guy terminated his lease early (which we agreed to) but I'm assuming we need documentation from the girl to cover ourselves legally. Any suggestions. 

Investment Info:

Single-family residence buy & hold investment in Lake City.

Purchase price: $57,000
Cash invested: $32,000

3 bedroom / 2 bath house
Purchased from a lady who was about to loose her home for not paying the taxes
Spent too much on renovations because we lacked direction at the time
Currently rented below market value to my brother but don't have any additional expences

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

Found it on Zillow
My mom was able to negotiate with the seller because she was running out of time before the house was taken from her

How did you finance this deal?

Cash

How did you add value to the deal?

Fixed everything. She didn't have home owners insurance and there was a whole in the room from a tree falling on the house.

What was the outcome?

Broke even but learned a ton

Lessons learned? Challenges?

We had to take our first roofer to court. Get good people to do the work.

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

Karon Epps was great! She was the only realtor who would work with the "crazy" seller. She helped the lady find a rental and move all her stuff to get the deal closed for us.

Lee Miller's law office in Florence is amazing! They also dealt with the craziness of our closing and did the paperwork for our refinance. They are family friends and the ladies in his office have bent over backwards for my family.

We are looking to expand our network of wholesalers to produce more leads in the Pittsboro/Siler City area. 

@Lester Hess, can you pass any contacts to me?

Thanks

Thanks for all the feedback! Definitely have some numbers to run

Hey, 

So my mom inherited a piece of property with 4 mobile homes and a house. But the mobile homes are in rough shape and need a lot of work to get livable, same with the house. She doesn't really know if she should just sell it all or if there is an opportunity she is missing. Any ideas?

https://www.themhpexpert.com/p...

Can anyone speak to this situation? Mobile home park being forced to redevelop.

here is an explanation as to why the property tax on SC property for rentals is so high. we were blindsided by this and it really messed up our cashflow 

https://greenvillejournal.com/business/want-rent-house-well-youre-going-pay/

Did it impact your ability to sell the house?

Hey Uriah, 

What did y’all end up doing up the fuel tank? We just found out a property we have been looking at has one under the house. 

We are looking for a dependable contractor or handy man in Alamance County NC, so the Burlington Graham Mebane area. We are doing some work on an investment duplex and are struggling to find someone. Recommendations are needed. Thanks!