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All Forum Posts by: Mike Hege

Mike Hege has started 2 posts and replied 6 times.

Post: Charlotte Investor Focused Realtor/Agent

Mike HegePosted
  • Real Estate Agent
  • Charlotte, NC
  • Posts 6
  • Votes 4

Good morning Grayson,

We help investors of all experience levels and have built homes for investment, purchased multi family units and very familiar with the area.  We have a team that covers the metro Charlotte area as well as Winston Salem and Asheville.  I personally work with clients to help build wealth through real estate.  Growing up in Charlotte have seen so much growth and only continuing around the metro area based on the influx of people / demand. 

My cell is 704-491-9445

Mike Hege, MRE, Realtor, Team Leader / Investor

Founding Compass Team in Charlotte 
[email protected]

@mikehege.realestate / www.mikehege.com

Post: New Construction SFR

Mike HegePosted
  • Real Estate Agent
  • Charlotte, NC
  • Posts 6
  • Votes 4

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $240,000
Cash invested: $2,000

New Construction Property - we owned 9 years before building (purchased lot for $2K) and used lot equity to fund the new construction purchase through a commercial loan. Then BRRRR'd to pull out at 3.25% and buy another property.

What made you interested in investing in this type of deal?

Like the idea of brand new

How did you find this deal and how did you negotiate it?

Land that sat forever. Made a low offer and kept coming back to it. Plan was this was a 10 year play. We built in 9.

How did you finance this deal?

commercial loan

How did you add value to the deal?

Built from the ground up

What was the outcome?

We are partnering with a local housing agency that will be the master lessor and vet the tenant / check on the property that provides wrap around services but guarantees the market rate for 12 months.

Lessons learned? Challenges?

Building materials go up / Make sure to get the right tenant

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am an agent

Post: Most real investors should not buy from realtors....

Mike HegePosted
  • Real Estate Agent
  • Charlotte, NC
  • Posts 6
  • Votes 4

3 reasons to have an experienced agent that actively invests: 1) Access to MLS listings and in some markets private "coming soon" status feeds (not the IDX feeds from consumer facing websites). 2) Local knowledge 3) Generally... other agents (if listed) are more receptive to working with another agent vs. a dual agency situation when making an offer

3 reasons to not work with every investor from the agent's perspective: 1) Indecisive/Analysis Paralysis 2) Disloyal 3) Certain deals do not pay (auctions do not compensate agents at all). 

Post: New Construction Multi-family in NC

Mike HegePosted
  • Real Estate Agent
  • Charlotte, NC
  • Posts 6
  • Votes 4

$70/SF includes material + labor

Post: New Construction Multi-family in NC

Mike HegePosted
  • Real Estate Agent
  • Charlotte, NC
  • Posts 6
  • Votes 4

We have a contractor GC / sub contractor connection that can build the standard floorplans for under $70/ SF

Post: New Construction Multi-family in NC

Mike HegePosted
  • Real Estate Agent
  • Charlotte, NC
  • Posts 6
  • Votes 4

I have older multi-family units that need consistent repairs / reserves for future repairs.  

I'm looking to build small multi-family (duplexes) in the general Charlotte NC area. Land basis $25K or less. Construction costs $70/SF. All in cost: $200-$250K.   2 story (3 beds / 2 bathrooms per side)

Projected cash flow:  $2,500/month. 
Have you invested in Multi-family and/or considered building your own?    What thoughts do you have (pros / cons)?