All Forum Posts by: Michael Spine

@Jake Peetz

Congratulations on your 1st BRRRR. Thanks for sharing your inspiring experience. Wishing you the best.

Raleigh, North Carolina and surrounding areas are seeing delays in completion of new home construction and increase prices of materials too. As @Account Closed said:  difficulty getting materials secondary to COVID supply chain issues. Some builders are decreasing commissions to the buyer's agent as low as 2%.

Holly Springs Law, David Bryan P.A. has never let us down.

@Tyler Dix

Regarding North Carolina tenant-landlord Residential Rental Agreement Act-required repairs: 1. Heat must be capable of maintaining 65 degrees 2. must have working plumbing and electrical 3. working smoke and carbon monoxide detectors, landlord not responsible to maintain batteries. **I do not believe NC considers a non-functioning air conditioner as a property being inhabitable (please consult a lawyer and North Carolina tenant-landlord laws.) 

Tenant rights and Landlord Breach: the tenant can sue landlord for damages or rent paid while property was not inhabitable and the tenant can move out and stop paying rent in spite of remaining lease time. "constructive eviction" 

(please consult a lawyer and North Carolina tenant-landlord laws.)

Thank you for sharing. Letter sent. 

@Xavier Hamblin

It appears you have goals and are driven for success. You are positioning yourself well to succeed by attending college full-time, working 30 hours/wk, getting your real estate license and having a good credit score. 

At your age, I would first consider house hacking and let your tenants pay for your mortgage. Being a first time home-buyer will allow you to put up less of a down-payment and get you a lower interest rate versus having an "investment" property which would most likely require a minimum of 20% down payment at a high interest rate.

Stay focused, execute and best wishes. BiggerPockets has wealth a of information.

Steve and Danyelle, owners of Atlantic Corp, quality work. Tell them Michael and Maria Spine referred you. 

www.atlanticmoldexperts.com

I would most likely diversify my purchases following extensive due diligence and running the numbers. Interesting question.

Just wanted to congratulate you on your "2nd Home". 

@Payge Myers

Research for a reputable school with quality instructors that offer flexible hours. I worked full time and was able to attend evening classes in person pre-COVID. I chose 3 evenings/wk vs 4. It gave me a little more time to absorb the new material and study. I'm not sure about your state, but North Carolina requires an additions 90 hours "Post-Licensing". It's not cheap to get a license and don't forget additional money to take the state test. 

I good resource to listen to is YouTube videos by Travis Everette. He was our instructor and it appears people all over the country watch his videos to possible add clarity to the material.

 After obtaining your license, I recommend seeking out a brokerage that offers the best training and has a great Broker-In-Charge with supportive colleagues. Also have months of reserve to live off anticipating your first sale will not be for some time. You can do it. Best wishes.