All Forum Posts by: Josh Brewster

Josh,

Give Carolina Trust Bank in Lincolnton a call, they are a local bank with 8 branches I think and ask to speak to Charlie Reep, he may be able to help you. We have worked with them on multiple loans for flips and and rentals. They will look at your personal financial statements to secure the loan, but all our properties are under our LLC. Hope that helps, let me know.

Josh

Absolutely agree with John, having those three people in place is key to successful investing!

Title insurance is done thru the attorney, insurance is all on you, but must be in place by closing if you are borrowing from a bank.  If paying cash insurance is optional since you have no lien holder.

8 SFH in Catawba, Caldwell, & Burke County, NC. We have also flipped 2 this year and are working on our 3rd. Plan to acquire atleast 2 more SFH rentals and then move on to duplexes. & quads. Still work full time as well, but not much longer!

Melissa,

I think your math is a little off there...$100 a sq. ft on a 1000 sq. foot house would be $100,000.

While I do agree with your average total rehab cost (if you are a doiit yourselfer ) $10K on a 1000 sq ft. house is a good starting point, but probably not a generalized rule of thumb.

Tyler,

Please add me to your buyers list.  We are based in Hickory and primarily focus on the surrounding counties, but are always looking for good deals and willing to expand. Thanks.

- Josh