All Forum Posts by: McKenzie Peterson

@Aaron K. I appreciate your insight I was thinking that a wholesale would result in a smaller return than the fix and flip strategy then turning around and putting it on the market. The area in which the property is makes me not want to let go even though I am a new investor trying to take on a large first deal. Just was looking for further insight on whether its normal for people to take this kind of project with a relatively new investor.

@Jerryll Noorden That is what I meant in my first comment I have the property under contract. That does make sense I guess what I was thinking is that I just do not want to lose out on this opportunity. I started off wanting to wholesale the property but after doing research doing a joint venture with a guaranteed return is what I thought someone ( private lender ) would latch onto. Thank you for clarifying for me that this is not normal.  

Thank you @Amanda G. I went to the tax office and found there mailing address they did not even tell me about the overdue taxes or about claiming the property sometimes if feels like they are withholding information like that.

That second idea though I will give a try and let you know if it works thank you so much for the advice!!

Is it possible to go under contract and then find someone that will pay all rehab cost and only ask for principle and interest back ( at a reasonable % ) without having to use any cash or credit ?

There are a lot ( 5 ) properties in an area very sought after that have been boarded up by the city. The company that owns them has long since gone out of business in 2009 but the buildings still sit there in the name of the company. How would I go about turning these into deals ? 

I am excited to be attending this event and learn more about the Charlotte market and meet with like minded individuals. @Chris T. Thank you for putting this event together!

@Claire Austil Thank you for reaching out and that insight would be greatly appreciated.

@Justin Fraser How would you suggest to a new investors like myself, ways to start getting investors so I can get into my first large apartment sized deal? I live in a hot market that I want to get involved while the market is still going through the change.

Thank you for the response I will be sure to reach out!

Good Morning Everyone,

New real estate investor who has a property under contract and is looking to trade ideas on potential routes property can take. Currently the property ( old barbershop that must be converted into a single family dwelling ) is in a high valued market. The same type of houses are selling for 190-210K ARV the sellers starting offer is 75k and is motivated, and is willing to negotiate on price, also the repairs would be heavy. Looking to get ideas on how to go about turning this into a deal and learn from somekne with their first deal done!