All Forum Posts by: Heidi Braunhardt

Thanks, @Account Closed. Do you have any specific areas inside of the Charlotte Metro that you would recommend? Are some areas/streets, etc. better than others?

Thanks, @Thomas Magill and @David Glass ! 

I am looking to purchase a single family home in the Charlotte area as an investment. I was told by one person that Denver, NC (just north) is growing and would be a good place to look. But, the population of Denver, NC is only 3,300 and it seems a little sleepy there, so it worries me that there won't be anyone looking to rent! Any Realtors in the area or locals who could provide some advice on which areas around Charlotte are best for rentals? I'm looking to stay under $400K. Thanks!

@Shakir Elvin thanks so much, Shakir! It has been a pleasure so far and I am so excited for your closing on Thursday! Great investment decision by you! 🙌💪

Yes, that is fair. Cheaper than what I would expect actually. 

Thanks, everyone!! To answer some of the questions :) @Tchaka Owen Very cool! It's now a great neighborhood with many flips and new construction! @Brian Garrett our lender required the 40% down, stating lening is more risky now b/c of Covid. We shopped around but honestly 40% was the lowest percentage down required that we could find! Crazy as two years ago when we bought our first 6-unit only 25% down was required. @Kevin Koffman The neighborhood is Lake Ridge in Fort Lauderdale.  Yup, plan to manage it myself! I was managing a bunch of my rentals as Airbnb's up until March. Now, everything will be long term. All units came rented in between $850-$1,100, but as we turn tenants they will range from $1,100 to $1,400 (market rent).

Investment Info:

Large multi-family (5+ units) buy & hold investment in Fort Lauderdale.

Purchase price: $668,000
Cash invested: $285,000

Just purchased our second 6-unit building in Fort Lauderdale! First 6-unit building purchase was in 2017 and we were finally ready for another.

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

I am a Realtor and found it the first day it came on the market.

How did you finance this deal?

Commercial loan 40% down

Thank you Wayne and Elliott! Very helpful :)

I am interested in completing my first ever flip. I am a Realtor and stalk the MLS, but there aren't any GREAT flip deals because I know the professional flippers are finding them before they even make it to the MLS. I just started checking out the auction websites, specifically the "Broward County Clerk of the Courts Official Foreclosure Sale Site." I am in Fort Lauderdale. So pretty straight forward - you buy cash, as-is, no inspections, no title contingencies, nothing. So, do your homework up front. Does anyone have experience purchasing a foreclosure via auction? I would love to connect with someone who knows what's up. There is a "final judgement amount," and a "plaintiff max bid..." I can Google these, but it would be much more helpful to discuss with someone who has the experience of actually purchasing at auction. Thanks in advance for comments, suggestions, details, etc. that anyone can provide!

Agree, @Luka Milicevic, and being an agent myself it is just so disappointing to see it. It’s not difficult to provide great service! Thanks for reviewing my post :)