All Forum Posts by: Account Closed

Hi Charleszett-

I'm in CA. and was a broker from 2000 to 2008. Have not missed not having the license.  The main reason I'd got the license originally was I wanted to learn about loans and financing, and like you, I wanted access to information.  I think it depends on what type of investor you are.  Agents provide a lot of information you can't get off the mls, although it is nice to have first hand access to the mls yourself and not be "blocked" by an agent.  In my case I had a way to replace my income.  On the other hand, if you are a born networker, maybe sales is easier for you than it was for me.

Yes.  

Here you go:  

https://eig.org/news/opportunity-zones-map-comes-focus

I don't know about Zillow.  I know something about North Carolina.  It has the resources for tomorrow and a decent University system.  It's a good place to invest.

I buy in 27104 zip in Winston-Salem. However,  I was recently sniffing out HP.  A guy told me some of the old furniture buildings are being made into tourist destinations. One guy told me it would go for a b&b for this reason of being a tourist destination.  I am not knowledgeable about that;  I'm only reporting what I heard.  

You could also look and see if any areas in High Point are designated as Opportunity Zones. (recent legislation)  Opportunity Zone funds invest in low income neighborhoods. It is favorable for investors who want to avoid capital gains who hang on for 10 years.  I know that probably is not you.  However, in these zones the theory is that the funds will bring in new money for improving these low income areas.  This in theory then would incentivize the real estate investing and bring up the values.   

  You could also see if the city of HP has any designated areas they are incentivizing or favoring for investors.  I bet they do.

All aboard;  Winston-Salem market is taking off.  Rents are exploding.  I have waited years for this. Come on in!

Can someone please advise me where to click in order to respond to a specific person?  I seem to be striking out when I try to respond to Deb.

Hi Deb-

Most of the time you'd be correct.  I am someone who calls lender after lender to get what I want.  It's amazing what is out there with private money sometimes. 

Only?  ONLY $20000?????  I've never had that much.  The most I ever had was $7900 of my own starting cash. Anything else I got by putting the down on a credit card or taking equity from something else I owned or best yet, doing a "subject to."  

You can do a LOT with $20K.  For just one idea, go find a 4 plex with list price $400000. Either put $20K on a credit card or get the owner to take back a second in that amount and go to a commercial (not bank) lender and get the 80%.  Make sure everything cash flows when you are done.  Use Scottsman to find that niche lender. 

I buy condos in Winston-Salem in zip code 27104. Just got one for $60000. HOA dues are $165, rent is $815, insurance is $20, manager I pay is $70, taxes are $55. I paid cash so I am getting net around 10% cash flow= $505/month net. I love condos. Most people hate condos. By the way the whole purchase price is depreciable. (not so with houses.) I saw one lately listing for $35000 and there is a tenant paying $650. You could buy it, say you could pay $33000, put 25% down ($8250) and have the seller pay the (ballpark) $1000 closing.

Most of the bs I have heard over my 30 years about investing in condos is bs.  They have all appreciated at the same percentage rate as the surrounding houses.  The zip code is in an established neighborhood.  May favorite condo I put down $2000 and another $2000 I put on a credit card.  I just started paying in the existing loan of $232 a month.  Rented for $800.  I love that people hate condos.  Leaves more for me.

It would raise the prices of everything and recipients would be no better or worse off one way or the other than they are today.  Think about it.