All Forum Posts by: Lewis Vine

Hi folks,

I've started browsing Zillow, etc, to get a sense of homes for sale in my target market and I've noticed a pattern on quite a few listings. I'm curious what's going on:

A house sells for $70k in 2017.

It sells again in 5/2022 for $205k.

And then, a month later, it's listed again, typically for about $50k more.

What's going on here? Is this a BRRR refinance? Does the flipper sell to an investor who then is just trying to make a quick buck? I see this pattern on quite a few listings:

Just curious. Thanks!

@Jayme Currie,

I'll definitely check it out.  The thing I love about my job is the flexibility; I'll definitely use the perk well.  I know committing to a meetup is likely to rapidly speed up the time to my first deal.  Thanks for the recommendation!

Hi all,

My name is Lew.  I've had some exposure to real estate investing in the past and am looking to get back into it.

I was an Army officer for six years after college, and bought two properties in 2012 and 2013.  I then started and ran a landscaping franchise before a family situation caused me to abruptly close and move to North Carolina.  That whole process was quite financially disastrous; I sold one home to fund the business and the other to make the move to NC possible on short notice.  I worked in HVAC for a few years, before doing a coding bootcamp and transitioning into software last year.

I'm finally at a level of income and stable finances where we are starting to save for our first investment purchase. I'm reading some of my old books, and picking up new ones. I'm also looking forward to getting involved in a Triad area meetup or two. For now we're focused on saving and education, but within the next year or two we hope to purchase our first SFR.

I personally think the Triad and mountains of NC present great opportunities; WNC for STRs and the Triad for longer term tenants.  Looking forward to participating in these forums and getting going (again!).

Best,

Lew

@Erik Browning and @Mark Reitman thanks for the input!

Funny you mention the Blue Angels theme, I was thinking the same thing.  Didn't see an Army themed unit, and tons of the reviews mention being in town to visit a service member stationed on Benning or for a graduation.  Bunk beds with Army issue wool blankets, and a foot locker for the kids room!

@John Underwood,

Will do, thanks.  As a general rule - does my "creative" comment in the post apply?  If it's worth doing, should there already be a good amount of STRs?  I'm not going to flatter myself into thinking I've thought up a potential market if I don't see a ton, but I don't want to miss out on a potential option, either.

Hope that makes sense.

Hi folks,

Does anyone have STRs in the Columbus, GA area? I'm a new investor considering some "un-traditional" STR locations, and, being a vet who went through training at Fort Benning, thought it might be a good area for the following reasons:

(1) Massive, semi-transient military presence, with potential for LTR.

(2) Local state university, with potential for student rental

(3) Tons of training on Fort Benning, meaning weekly graduations and families coming into town, potential for STR.

My first thought was STRs targeting families in town for military graduations, but it seems it would be easy enough to pivot to LTR's as well, with the student and military population.

Anyone tried this?  I know as a former contracting business owner "creative" or "new idea" isn't always best, but am curious to here from folks.

@Daniel Johnson,

Just saw this.  Is this a regular meetup?  Would absolutely attend in the future.  Thanks!

Can anyone confirm if this meetup in Boone is still meeting?  I'm finally in a position to start down the path of real estate investing again and would absolutely attend.

@David P. Sounds like she just left her husband and cleaned out their joint account.

Can't pay it back if she's already paid you a years rent!

@Nathan G. Sorry, new guy here. When you say 10% return, does that always mean cash on cash unless specified otherwise?