All Forum Posts by: Troy Knight

haha, @Terri Pour-Rastegar, definitely wear green! 

Nasar, it's hard to structure a meeting of this fashion. If you wish for structure, maybe one of the larger REIA meetings are more your speed. With this small local meetup, it's all about getting to know people in our area and not all of them do the same thing. In fact, a lot of folks don't invest yet, they just enjoy being around those that do and like asking open-ended questions.

Hello all; it's that time again. Time for another Charlotte Meetup. This is a time to learn from one another and hang out with other real estate junkies that are close by. 

Where: Dilworth Neighborhood Grille, 911 E Morehead St, Charlotte, NC 28204

When: March 17th at 7:00pm

We usually meet in the Moorhead room, but that can change as we learned last time. 

We look forward to seeing everyone there. 

Hey Theron,

I'm Troy and have been working with investors in real estate for 18 months now. I work with Providence Management & Investments and we specialize in facilitating the growth of others' real estate portfolios as well as our own. Between investors and our own company, we flip about 25 properties per year and facilitate the purchase of around 20 buy and hold homes. We are a one-stop-shop providing property sourcing, general contracting work, and sales of the property or property management. Let me know if I can help you out in any of the abovementioned ways! 

[email protected]
www.YouTube.com/ProvidenceMGMT to check out some of our flips! 

That seems like a great deal!! If I could get the subject land for a few bucks, then the numbers would be similar haha. Winston is a great area! I travel there quite frequently. They have a great real estate market and good demographics. 

The engineer gave me his fees first. I then asked about the cost to lay infrastructure and informed him we only needed to run utilities a hundred yards or so to the nose of the plat. I thought his fees were already astronomical; $8,000 for a survey and $16,000 for drawings. Seemed outlandish almost. He then said that to lay streets and utilities would run me around $40k-$50k from his experience. 

It still shows promise if the cost for infrastructure is around $200/ft if we decide to build houses as part of the total investment. 

Thanks for the heads up, Jay. I've got a phone meeting with a land developer out here Monday, so I'll try and get some better projections from them. I'm wondering if the engineer only gave me road costs...

The $40k-$60k was a hip fire from the engineer I was speaking too about doing the survey and architectural drawings. 

We would bring utilities from about 300' away along an existing street and then roughly 1,000 feet of street and one sidewalk inside the neighborhood. I originally was estimating $100,000 for the infrastructure build, but the company I spoke with has been doing this much longer than I do I took his word with a grain of salt. 

No one is looking for a place to park their hedge fund or use their angel investment funds? Someone has to want to make some money!!! I know I do!

I'm a Realtor and house flipper in the Charlotte, NC market. Our company flips ab out 15-20 houses per year. The way our company is set up, everyone has their own group of investors but we all utilize the same crews and contractors with myself and the BIC acting as GC.

I'm looking for an investor to invest in land development. While this may be foreign to me, making money, and the town I plan to utilize is not. I started my first business when I was 14 and was making enough money to buy myself a nice convertible when I turned 16. I grew up in the town I plan to take on with land development and moved back here after serving in the US Military.

Here are the investment numbers
Land acquisition $135,000-$150,000
Land survey $8,000
Architectural drawings and zoning $16,000
Land development in to 19-24 lots based on survey and development $40,000-$60,000
New brick signs for neighborhood entrance $12,000

Here are the return numbers
Sales price of $25,000 each lot (Low side): $500,000
Realtor fees: $50,000
Lawn Maintenance $5,000
Return :$445,000 being conservative....$643,000 being realistic with 24 lots at $30k each
My management/finders fee 20% of the net return.
I will also act as Realtor for the land. The Realtor Fees are split between me and the buying agent.

I already have a 10 acre plot sourced. Across the street are 3 neighborhood that have all be built in the previous 3 years that have a real estate sales price of $100-$110 per square foot sold. The homes in those neighborhoods were often under contract before or during construction. We likely won't conduct any construction, unless you the investor would care to take it on. If you do, I have the general contractors in place that would act as our builders with the potential of you making $15,000-$25,000 per home built but the investment of building a model home of around $$230,000

Comps for lots support a $25,000-$35,000 sales price. The benefits of this neighborhood are that it's two blocks from the number 2 highschool in the county, 2 blocks from the coming town center which the town currently lacks and is looking forward to greatly. It's on the route that takes you to a new 800 home development. (That development is another 10-12 minutes down the road; when you have little Johnny and ice cream in your car, no one wants to spend that extra time going home when they don't have to).

Average time for a neighborhood this size to fill up and sell out is 18-24 months based on regional averages with outliers taking up to 42 months.

Upon further discussion, an NDA will be signed and location discussed further along with supporting articles and comps.

Feel free to email me at [email protected] or Text/Call 704-619-3302

Check out our YouTube channel to see a few of the flips we did last year www.YouTube.com/ProvidenceMGMT

@Audrey Truesdale , meeting starts at 7:00. People usually filter in for the first 20 minutes or so. After that we usually go around the table with brief introductions then just sort of chit chat, eat, and drink.