All Forum Posts by: James Hutson

I appreciate the feedback, everyone! 

So if you pass along the $700/m to your tenants, you 'save/spike' your income by $700/m. Except now you have to decrease rent so it isn't really an extra $700/m, right? Perhaps a little less, but still, an increase in casfhlow nonetheless.

Let's say you don't need this extra couple hundred bucks, so you take it and turn it into monthly extra principle payments on the loan.  You'll pay off the loan more quickly so that down the road, you get an even greater casfhlow when there is no loan to pay off.  How would the equity and appreciation of the home be affected as a result of this extra principle payment method?

Thanks!

A happy Saturday afternoon to you all!

I've got two short questions for you

(1) Is it more profitable/smart to include utilities in the rent or make the tenants pay utilities and have a slightly lower rent? I know the answer will vary based on location, price-range, size of the complex etc... so perhaps a few mock scenario descriptions would be helpful.

(2) One of the BP Podcasts (I believe it was between shows 1 and 70...I know that's not very helpful), the guest was talking about the very detailed and length lease agreement that he has with his tenants and that he had placed it either here on BP or his company's website. Does this ring a bell? May be the same guy who talked about 'training your tenants'.  If they're two separate people, I'd like to know who each is. I was hoping to figure out who this was so I could look at and study their lease to learn more about what goes into a well-structured lease :)

Chris,

Thanks for that info, had no idea there were so few in the country!  I appreciate you reaching out to your friend.  

Good Afternoon BiggerPockets Family!

I'm helping a friend out who is a local investor in Wake County NC and is ready, willing and able to purchase a multifamily property. I am an agent and have been searching the MLS but cannot find much inventory, let alone any properties that meet the criteria. Also, I will not be the agent representing the buyer.  The next best solution is to 'create' inventory, so we are looking for someone who is ready to sell.

The investment criteria are as follows: 

• Duplex, Triplex or Quadraplex
• North-West Raleigh, Cary, Apex and Holly Springs
• Flexible on the lease agreements currently in place
• One unit needs to be vacated within the next 6 months (owner will occupy one unit). The buying agent will help that current tenant find a new apartment
• Price range: Up to $375,000
• Buyer requesting previous rental history

Again, the buyer is ready, willing and able. They have been pre-approved and are very serious about moving forward.  So if you know of anyone who may be considering selling, please have them contact her.

Lauren Kelly

(775) 671-1109

[email protected] 

Thanks for taking the time to consider this and happy investing! 

Thank you all for the excellent feedback.  I had my suspicions and in this day in age of scammers, it pays (saves) to be paranoid. 

You all are right, they are too good to be true. I am not interested in the money (though that did raise a red scam flag).  I just figured 'what the hell, I'll call even though its likely fake'.

Honestly, my best bet for a local one-on-one mentor is probably someone here on BP.  I don't mind working for free to learn the business. I'm a Realtor anyway so it's not like investing would be my only income.  Fast money is not attractive to me. The proper guidance and education is. 

If any of you know of anyone with decent experience around this area in SFR, MFR or even flips, who is looking for a protégé, please let them know that I am looking for THEM.

I turned down the webcam interview for tonight.  Royal Empire Ventures will not screw me over. I'll make sure they remove those signs too (or I will).

Thank you again, everyone!

I saw a bandit sign on the side of the road in Raleigh, NC that advertised "Real Estate Mentor Seeking Apprentice 10-20k a month"

I called the number because I am looking for a mentor to learn from. I know this seemed sketchy but I keep reminding myself of those three important words "You never know".

Left a message and got a call back a week later (which was a few minutes ago).  The woman said the company is Royal Empire Ventures.  She liked what I said about my goals and experience (the little I have).  She pretty quickly announced to me that she would email me a link for a webcam interview online tomorrow night. 

They have been expanding in our area (Durham, Chapel Hill and Charlotte) and I believe are from up north originally (NY or NJ).

Before I allow myself to progress any further with them, does anyone know anything about these guys? I want to make sure its not a scam or something. Couldn't dig up too much on them outside a basic website and their FB page. I am a Realtor in Cary and am learning about real estate before I begin investing in it--just additional info for ya.

Thank you!

I would like to begin by apologizing for the extreme tardiness of this post.  

Despite the 'rumors' on this page, the meet is not dead. Rather, it has been postponed due to my choosing to switch firms this past march. I have settled in and have a little more time on my hands now.  

I am planning a slight re-structuring of the meet based on feedback I received regarding the last, with the goal of kicking the second one off this fall.  I will be sending this announcement to everyone via PM here and on the FB and BP pages for this meet. 

I will be happy to accept assistance from anyone who is willing (last time several people helped out and even more offered to).  Also, I will entertain any suggestions or ideas for the second meet.

All the best and happy investing, everyone!

Mr. Allen,

I was glad to meet you at the Raleigh BiggerPockets meet last Friday and am sorry you were disappointed with the agenda. We appreciate your feedback and will incorporate it into our meeting notes to improve the quality of future meetings.

Bait and switch is a common practice among real estate investing seminars and we understand your reservations about continuing to be a part of the Raleigh BiggerPockets organization. However as you said, there has been no presentation of specific products, services or fees, and a simple thank you to the companies who sponsored the event and covered the hundreds of dollars in materials, space and refreshments was in good taste given the context in which it was given.

While your experience in real estate investing may allow you to go it alone, many new investors need help putting together partnerships with others. Our experience has shown us beginners benefit from having a professional neutral third party mediate these interactions. The private follow up email you felt necessary to publish openly was nothing more than a reaffirmation to those with less experience that they are not alone in facing these challenges.

We will of course, honor your request to be removed from the Raleigh BiggerPockets member list and wish you good luck and great success in your future real estate deals.

Thank you everyone for responding so swiftly. This first meet is going to be pretty amazing. We are looking at roughly 40 people so far and counting.

WOW!

I'd like to send a video recording to Josh and Brandon from all of us at a future meet, thanking them for the wonderful community that has been providing constant value to us all. Plus I'd love for them to see what we've accomplished together. This meet is in an amazing location with awesome people...success is inevitable for us all.

@Shawn W. No worries! Good luck on a safe trip and we all are looking forward to meeting you at the next meet in February :)

Thank you everyone for responding so swiftly. This first meet is going to be pretty amazing. We are looking at roughly 40 people so far and counting. 

WOW!