All Forum Posts by: Jason E. Smith

@Britt Walker I sent you a direct email, let me know if you don't see it soon.

@Mark Nolan Thank you for the warm welcome and the great recommendation!  

the triad rei group has a lunch meeting tomorrow in Greensboro at the Logans steakhouse off Wendover ave.  Their website is http://www.triadreia.org  I'm buying in Winston right now because that's where my property manager and realtor focus on. Unfortunately they don't cover Greensboro so I haven't built a network there yet. Hope that helps some. 

@Garrett White what kind of help are you looking for?

@David Graham how much are you expecting this $140k home to rent for?  If you follow the 2% rule it would need to rent for $2,800 a month. 

@Colin Ferek if you live in your first purchase you will most likely qualify for a lower downpayment. And because it's your first property you will have more wiggle room in your DTI to qualify for that property. Your second property you will need a greater downpayment, 20-25% most likely, because you will not be living in it so the banks will consider it an investment property. Also, the second one you will have less DTI to support the purchase. Most lenders today will not give any credit for current tenants rents, even if they are on one year leases. So your DTI will have to accommodate the new payment for the second property. Best of luck and have fun!

Hey Andrew, what kind of investment property are you wanting?  Flip, wholesale, long term rental, etc? My experience has been many realtors are great at finding your dream home for you to live in, but few understand investment property.  Most property managers are also licensed realtors and they understand investment goals much better than standard realtors.  

Welcome to Bigger Pockets!

Thank you Rosston!  Great last name by the way!  

Might sound crazy but my best contractor referrals have come through the girls that decorated my place.  They've been in business a long time and are very connected with the community.  They referred me to a painter, plumber and GC.  All did great work at competitive pricing.  Maybe contact a local interior decorator and ask for referrals.  Best of luck!  

Kurt, My property manager had to evict a tenant last year from a duplex I have in Charlotte. It took about a month to complete the eviction process. Then they put padlocks on the door and then there was a ten day waiting period. Not sure if the eviction process is similar to your process but thought I'd share my experience. If you feel you need help a great contact is Kevin Stringari. He runs a company called Bottom Line Realty and Management in Charlotte. He's very responsive, great customer service and great management. Stay away from TR Lawing. They are one of the oldest property managers in Charlotte, one of the biggest and they have AMO accreditation. So they look good on the surface but they have bad customers service and their vendors charge unrealistic amounts. Save yourself the pain and stay clear of them.