All Forum Posts by: Jason E. Smith

JMar, welcome to real estate investing. I'm sure there are REIA's in your area which meet at least monthly. I recommend attending those meetings and as uncomfortable as it may be stand up in your first meeting and offer this same introduction to meet like minded investors nearby. There's also an apartment association in the triangle which you could join and utilize for networking! Let us know if there's anything else we can do to help!

Sorry to hear that Brandon. Where was the property located?  I know it was highly talked about that Charlotte was reevaluating property values. Did you have a realtor?  I agree with Brian that there’s not much you can do from a recourse monetary standpoint but there’s plenty to do from a social media reputation standpoint. Because most likely the realtor and attorney knew values were being reassessed. Their failure to inform you is negligent and should be shared with others. You can call the realtor and attorney and openly share your frustration, tell them you won’t be a client anymore and then share your experience on the internet to warn others. It won’t help offset the taxes but it will hurt their reputation and help others from making the same mistake. Best of luck!  Real estate is forgiving so keep moving forward and this will all be far in the rear view soon!

Hey Jonah,  I think you're onto great ideas and I believe you'll learn a lot taking the non-corporate approach that you are taking.  Feel free to contact me directly and I'll be happy to share my experience and help however I can.  Another great resource would be the Triangle apartment association www.triangleaptassn.org Another syndicator local to your area is https://www.prudentgrowth.com and @Paul Moore is full of knowledge and a tiny bit of humor occasionally lol.  I hope I've added value!  

Welcome to North Carolina Barbara.  The cities you mentioned each have potential.  I would stay away from some of the smaller towns.  Some are based upon one employer or one industry and any impact to that one could degrade your investment.  For Charlotte I would recommend speaking to Kathryn Cook Crespo, she's more investor focused.  Let us know if there's anything else we can do to help.  Happy Investing!  

Hey Gillian, Ralph Bunch is a great attorney. He’s very meticulous, professional and I’ve never had any issues in my closings with him. @Ian Kurela is a wholesaler in the area. Let me know if there’s anything else we can help with!  Happy Investing!

Great observations Chris! I'd be curious to see population growth, job growth, wage growth, etc. overlaid on top of this data. The term "bubble" gets thrown around but I heard a solid explanation of bubble recently. If the housing price in Raleigh is growing at a rate of say 5%, yet all the contributing indicators such as wage growth, population growth, income growth, etc is growing at say 2%, then it creates a bubble. Obviously if the underlying data isn’t growing as quickly then it’s not sustainable long term. And typically speaking the correction back to equilibrium doesn’t result in a soft landing, rather an over correction which results in cycles. Thanks for the great data!  

Chinyere, I know plenty of people who live overseas and buy property here in the US! I would still begin looking for REIA's and apartment associations in the areas you're interested in. You can still join, contact people and companies and network even from abroad. And begin listening to podcasts to gain education. There's so many things to do in REI so think about what appeals to you whether it's rentals, wholesaling, flipping, etc. Then find someone who's successful in that trait and ask them if you can help them in return for mentoring. If property investing is meant for you nothing will stand in your way of taking action, not time, not distance.

Hey Chinyere,

Welcome to real estate investing! If I could go back to where you are at now I would find a great mentor first! They will help you compress time and avoid those dumb mistakes we've all made. There should be an apartment association in your area and also REIA's that hold frequent meetings. Go network and take your time interviewing prospective mentors. And only invest with those you know, like and trust. All the best! Jason E.

Hey Jason, hope you’re doing well!  I currently live in Greensboro. Those are nice areas. But what’s your priority for owning investment real estate?  Tax advantages, retirement income, cash flow, etc?  Once I know a little more about your goals I can better assist. 

sorry @Parker L. forgot to tag you in my last post.