All Forum Posts by: Jack Knochel

Hey Mike, I just got back from one of @Scott Meyers classes this past weekend.  Not including land, the average they say is $35 a sq ft for one level and then $45 for 2 levels and $55 for 3 levels.  But there are a lot of variables, climate control, gravel/black top/ cement, how many units, boat/rv storage, etc... that determine how much a project will cost.  Also, you can get an SBA loan on one and the upfront costs to you will be lower then a commercial loan or any other loan.  I HIGHLY recommend searching Scott out and getting to one of his classes if this is something you want to get into.  I hope this helps out some.  THANKS

Our first was through the MLS, rehabbed and sold and made $20k, we were hooked!

Hey Cedric, send me the info on this deal.  We are in the Charlotte area and looking for some commercial properties.  Thanks Jack Knochel 704-502-3589

We use multiple agents and they know from the start.  They are broken into the different areas of Charlotte since Charlotte is big and has multiple counties around it.  If we see the listing on your list, you get the deal, that's how it works and they seem fine with that and besides sending the basic lists, they go through them and send individual ones that they think might be of interest. 

Hey Dave, I can give you some DON'T USE contractors if you'd like, HA HA.  We haven't had a bunch of luck either.  Something about integrity and communication seems to be lacking in that profession.  I did pick up the name of one the other day at the docs, the lady drawing my blood and I started talking and she has some friends that want to get into rehabbing.  He is a contractor and does good work and is honest(this is what she said).  So I plan on calling them tomorrow to set up a meeting to hopefully see some of his work and find out more about them, if it seems positive I'll let you know.  What areas are you looking for in Charlotte?  We have done some rehabs, from South Blvd area, to Lake Norman area, to Kannapolis area, nothing going right now, looking for the next one, also looking for some buy and holds, multifamily would be nice.  Later

Hey Alex, I was reading your post here and do think you should refi out and change your PM.  We have some lenders we work with in the Charlotte area, if interested ping me.  Also, 10% property management is high, we pay 8% right now with MW Properties and once we hit the 6th property it drops to 6%.  They take care of everything for you!  I read a post last night about folks renting for 9 months and then 3 months, but then I also heard about renting for a year and then telling the person that you are ok with them subleasing it for the 3 months they are in college, if they get more then what they pay you then they get to keep it, but this way they can keep their stuff stored there over the summer months.  Are you near UNCC?  We have looked around the area to possibly get some student rentals but have not jumped on anything yet.  Later 

Hey James, I am from the Jersey shore(Monmouth County), but live in NC now.  I spoke to an investor in Myrtle Beach SC about this and he has a couple vacation rentals and was not to positive about them and then I spoke to another investor/realtor/property manager in the mountains, after about 30 minutes talking with her she stopped us and said " here's the deal, I am an investor and manage over 100 properties for other investors, but I don't own any vacation rentals, that ought to tell you something".  We thanked her for her honesty and decided at this time we would put that idea on the shelf.  I plan on reading up on the forums here and listening to the podcast which others have mentioned on your post here.  Later 

Hey Eric, welcome to Charlotte.  What side of Charlotte did you end at?  You have to check out metrolina reia, it rocks.  Our main meeting is the 3rd Thursday of the month and Michelle and I run a subgroup on the 4th Thursday of each month.  If you all would like to meet up and talk about the area let us know, Michelle works just for us and I have a 9 to 5 but work out of the house. 

Thanks

Jack and Michelle

Hey Abraham, my in laws live in Iron Station, right next to Lincolnton.  I also have some buddies out that way.  The place is more rural, and kind of a far commute into Charlotte so most stay away from there from what I have seen.  We have thought about venturing out that way to see what deals we might find but so far we have not, there are deals closer to us that keep us from that. 

Chad, I'm interested in this also if it looks like a good deal.  Keep me posted!