All Forum Posts by: Mark W.

Thanks Bill, I appreciate the info. I am going to check them out.

Awesome, thank you I will check it out!

Anyone know of any others?

I would hire a pro, the risk is too big if you miss something. I like to inspect myself and have a pro do it. Two sets of eyes are better than one. Inspections are cheap compared to what you stand to lose if you miss something. Just my .02.

Hi guys, not sure if this is the right place for this, but I'm looking for REI clubs in Western NC. I am just starting to learn enough to know how much I don't know. I am looking for clubs or meetings so I can continue my education on a local level.

Thanks for the input,

Mark

I noticed that about Concord. I was watching that area and I found almost one whole street that was for sale. Including 4 duplexes, it looked pretty sketchy from the air.

@michaeld no doubt. That seems pretty far fetched from what I have been looking at though.

You don't know where wilkesboro is? I'm surprised! Ok not really lol, I live 45min west of winston on 421.or 60min north of Charlotte. If you have ever went to Boone on 421 you went through Wilkes.
I'm self employed and I travel around the western part of the state pretty often, so I would be pretty comfortable with a property as long as it less than an hour away. And my schedule is normally very flexible. My plan is to manage the property myself. Being new to the game I feel that I need to learn as much about the different aspects before I start to delegate. Do you know much about the Concord, Huntersville, or Mooresville areas?

Thanks

@Karen M good info, thank you very much.

@Michael Lauther , that is one thing I have noticed from reading .I either need to get the ARV well above $50k or try and find some friendly lenders that would be willing to help people into homes under $50k. I am not sure either of those things will be possible in my area with my current finances. I can't get a bank loan because my income comes from my business which is less than two years old. So even though I have excellent credit and good reserves banks won't loan to me..... I will have to do a cash deal which will limit me on both purchase price and rehab.

@Steve Babiak I am beginning to think you are right. I am trying to figure out what the best way for me to build my current capital. Renting doesn't seem to be a great way to quickly make my money grow because I would probably have $30k cash tied up making $600 a month rent. That would put me out of the game for a couple of years saving up to be able to buy and flip another property. Seems like my options are pretty limited.

Hi guys, I am having trouble setting up a criteria in which to follow for fix and flip properties. I am looking at low end properties. Purchase price under $25k that are in need of work.
What are your thought processes when you are looking at a property. How do you come to the conclusion that you could sell the property after its renovated? What factors do you take into consideration? I know this is really broad but I am basically trying to get into the heads of some seasoned investors (I know it may be a scary place:) ).

Maybe approach this as I have to; I am new to an area and I'm not familiar with lower end properties in general.

Thanks!

Hi everyone, I have been trying to get a general feel for the real estate in NC. I am looking at picking up a lower end property to fix and flip or fix and rent.

I have been looking at the North Charlotte area including up to Concord, Huntersville, Winston Salem, and Greensboro. Anyone have any insight into those areas?

Thanks!