All Forum Posts by: Michael J Shetler
Michael J Shetler has started 4 posts and replied 9 times.
Post: STR Regret Stories...
- Investor
- Coming soon to NC
- Posts 10
- Votes 6
Quote from @Matt Mertz:
I'll add one though it's not too bad.
We built a big cabin in the Smokies in 2021. Great property, going strong today.
Decided to build again (small 1 bedroom). Spent all of last year with the builder and architect going back and forth to get the sqft cost down and finally threw in the towel. Spent a lot of money on a useless custom floorplan and various surveying costs. We couldn't justify the low ROI.
We're so thankful we built the big one first. We couldn't afford it at today's construction prices.
Would it have made a difference if it wasn't "custom"? In other words, purchase existing plans? Or is it just about higher build costs.
Post: Raleigh is the #2 hottest real estate market, Durham is #4
- Investor
- Coming soon to NC
- Posts 10
- Votes 6
Hannah, can you post a link to the report in U.S. News & World?
Post: Better Realty Investor Meetup - Downtown Durham
- Investor
- Coming soon to NC
- Posts 10
- Votes 6
Any chance you could go virtual with the meeting?
Post: Fix, rent, flip
- Investor
- Coming soon to NC
- Posts 10
- Votes 6
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $415,000
Cash invested: $81,000
Sale price: $670,000
Complete cosmetic renovation. Rented for a year @$3800 before selling.
What made you interested in investing in this type of deal?
Price too good to pass up
How did you find this deal and how did you negotiate it?
Listed as an REO in MLS
How did you finance this deal?
Personal cash
How did you add value to the deal?
Complete cosmetic renovation
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm a real estate agent and investor
Post: Propstream- How accurate are the estimated home values?
- Investor
- Coming soon to NC
- Posts 10
- Votes 6
Those of you using PropStream - do you find that owners are inundated with offers?
Post: North or South Carolina
- Investor
- Coming soon to NC
- Posts 10
- Votes 6
Quote from @Sebastian Kressley:
Feel free to reach out Michael. I am investor/broker in Greenville, NC. I have a multi-family background and love talking shop!
Thanks for reaching out today. Do you have time for a short "networking" call today?
Post: North or South Carolina
- Investor
- Coming soon to NC
- Posts 10
- Votes 6
I'm looking to buy a 10-15 unit complex in North or South Carolina. Columbia, Myrtle Beach, Greenville or Raleigh-Durham. Looking to grow my network of real estate agents, lenders, contractors, inspectors. Add to this thread if you'd like to connect.
Post: Single Family Buy and Hold
- Investor
- Coming soon to NC
- Posts 10
- Votes 6
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $425,000
Cash invested: $20,000
Purchased just before pandemic. Renovated kitchen and baths. Unusual property for the area but strong rent value.
How did you find this deal and how did you negotiate it?
I'm a real estate agent. Listed in MLS.
How did you finance this deal?
Conventional mortgage. 1031 exchange.
How did you add value to the deal?
Renovated kitchen and baths. Changed carpet to vinyl plank.
Lessons learned? Challenges?
Timing is everything.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I acted as real estate agent.
Post: Wyckoff Fix and Flip
- Investor
- Coming soon to NC
- Posts 10
- Votes 6
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $350,000
Cash invested: $200,000
Sale price: $900,000
Turned a cape into a colonial.
How did you find this deal and how did you negotiate it?
I'm a real estate agent. It was listed in MLS.
