All Forum Posts by: James Slaughter

@Chris Howell Hey Chris, Live, and wanting to invest in additional properties in Statesville, (and possibly Salisbury area), and look forward to connecting.

Welcome!  We are from Charlotte!

@James Wise How much are you getting for those unused diabetic test strips anyhow? I'm sure that could be worked into the BRRRR approach somehow if given enough thought.

Congrats Dave, You are a man on fire and an inspiration.  I have gotten bogged down in life, but 2nd half of 2017 look out!  Well deserved Sir.

I agree with David above, hard to see the point in investing out of state on a deal that doesn't even meet 1% rule unless you feel home is in an up and coming area and have a reasonable expectation that value or rental rates will increase.

Hey Dave, going to be out of town but hope you have a great turnout as always!

@John Mason Wallace I think the large scale is exactly how it is sustainable.  If you have one rental, your occupancy rate is either 100% or 0%,  If however you own hundreds or even thousands of rental homes, your occupancy rate is just a % of the homes you own, no different than a multifamily.  If you have a high percentage empty in the Charlotte market, your really doing something wrong.    

@Christopher Hopkins I have been to several, and there are typically around 20 I would guess.  Great food and company.  Hope to make it tomorrow if work permits.

@Paul Moore , @Dave Hurt hosts the Brass Tap BP meetings and there are typically a dozen or more people of different investing backgrounds and objectives so always a great time not to mention the half price beer and food!  Dave just announced the next meeting is December 5th at 6:30.  I know the Hobby Millionaire has meetups quite frequently and I would like to attend others but know that @Don Harris could give you a run down of other REI groups in the area. Welcome to BP and hope to see you soon!

@Chase Webster, I purchased a SFH through Holton-Wise almost a year ago (time flies) thru @Federico Gutierrez and have been very happy with the process to date. 

My biggest concern was that on a month to month basis, cash flow would look great, but after a year, tenant would move out and after repairs, vacancy and release fees, that return rates would not be nearly as good as hoped for with little chance of appreciation.....time will tell, but I am more than open to buying my next property in Cleveland and it would certainly be thru Holton-Wise.

Obviously @Tom Ott prefers his companies model, but I personally liked having the ability to purchase anything available on the market (from a SFH to an apartment building) over just what is owned by a single company. I also believe you at least have the opportunity to find or negotiate a "deal" where I don't see that happening from a turn-key company, although the idea that the house has been thoroughly gone thru before purchasing is appealing...but that's what a home inspection report and budgeting for repairs is for.

If your seriously thinking about investing in the Cleveland area, I would highly recommend a trip to Cleveland which is what we and several others in this thread have done and meet with the people and look at actual properties your interested in.  Also, ask for other out of state investor references (as we did).  Good luck!