All Forum Posts by: Patrick Knapp

As a builder I can say that sounds fair. If you can build, do it. And max out that 5 floors if you can do it and have funds. 

https://my.matterport.com/show...

Here is before 3D

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $75,000
Cash invested: $25,000
Sale price: $130,000

This property was acquired by a wholesaler who is well know in our local area. We than removed the carpet flooring and replaced with LVP, painted the walls, installed quartz countertops, new faucets, new deck and fencing to include rot damage to the rim band and chimney, new water heater and appliances.

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

With the market being so hot at this time its best to take advantage of flips when they come your way.

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

Sadly wholesalers are greedy and hard to negotiate in a sellers market.

How did you finance this deal?

Used hard money

How did you add value to the deal?

Im a licensed General contractor so I got costs down.

What was the outcome?

Home looks fantastic and we list in the next day expecting above asking offers

Lessons learned? Challenges?

Even as a licensed GC we still make rockie mistakes when its your personal flip. Wallpaper is a pain in the butts and can cost you alot of money in labor. Best way is to prime over it with a shellac primer.
This flip took two-three weeks roughly to accomplish so we got it rolling pretty fast.

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

Gregg Horne for hard money

North Carolina is a fantastic area to invest in with the right team and knowledge. I moved here in 2013 when the army stationed me at fort Bragg, NC. The local city Fayetteville is a great rental market, even for flips right now being next to the largest military base in the US. After getting out of the army I started investing in this local market and seen it grow. I also help investors as well being im a licensed General contractor, so that helped me with getting my costs down low. 

Raleigh is my new market im focusing on since I just bought a home in Wake Forest. Sadly its alot more expensive there to invest compared to Fayetteville. 

I recommend Raleigh or Fayetteville if you plan to invest in NC. Because the job growth or stability of the base.

I'm a licensed General contractor and real estate investor for the Fayetteville and Raleigh area. 

Fayetteville has been a great buy and hold area because of Fort Bragg (place I served in the army). Lately with how the market has been flipping is better than ever. Issues with Fayetteville though is that the town relies on the base for rents. So basic alloted housing (BAH) somewhat controls thr rents, bit lately thats been changing. If you plan to flip don't expect bid DD or EM because military families are broke and are gonna use a VA loan.

Raleigh is one of the best growing markets in the country for jobs. The area has lots of stuff to do but boy has it become tough to buy in the Raleigh market. Rents don't have as good of return in my opinion like Fayetteville, but better potential for flips. Getting a 10k DD is normal where in Fayetteville it's extremely rare. 

NC can be a fantastic state to rent in and I love to call it home

Look up HUD housing fair market rents, then put your location. Best way is to go to your local section 8 housing and do their free landlord class.

Investment Info:

Large multi-family (5+ units) buy & hold investment in Fayetteville.

Purchase price: $160,000
Cash invested: $20,000

6 door property I picked up that will be a future section 8 property. 2 doors currently under renovations. Putting 30k in work.

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

Numbers seemed right and was able to buy with hard money.

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

MLS and we offered 150 when asking was 180. Met at 160

How did you finance this deal?

Hard money

How did you add value to the deal?

Yes we are now fixing one duplex

What was the outcome?

Currently working it now

Lessons learned? Challenges?

Idk yet

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

Yes agent

I have a possible great out of state deal in Houston TX area at a 60-cap. It's 5 homes on one lot that is bringing in 3k a month asking 60k. Recommendations? Im in NC.

I see a huge amount of cash flow but im not dumb, I will make sure it's real and can be proven. 

Who has out of state properties and how did you approach it the first time?

Awesome ill be absolutely coming to this event

I would love to join the BP meet up in Cary! Im in Fayetteville NC, but trying to move to Raleigh. Kory im a licensed GC and investor, if you need help or advice on how to get your license hmu. I suggest the NASCLA test. Easier and can be used in 15 states