All Forum Posts by: Troy Knight

@Chris T. - let's start the party

We are back at it and ready to hear what you've been up to! 

Where: Dilworth Neighborhood Grille - 911 E. Morehead Street, Charlotte, NC
When: Tuesday, September 16th at 7:00 PM

We will meet in the Morehead room again, or just tell them you're with the BiggerPockets group. 

We had a large turn out last time with about 20 attendees. We are hoping to have even more this go-around! 

No, it doesn't cost you money. 
No, we won't share how to "get rich quick"
No, we won't make you buy our books of success. 

We will have plenty of people for you to pick their brains though! We try to start off with an introduction, so get your "elevator speech" ready.

Looks awesome man. I wish you luck. I had looked at this one for some of my investors, but they weren't sold on it. We didn't know there was a spec build next door. That will definitely help! 

I guess I already knew the answer to my question, I was just hoping I could save the money. Thankfully the exterior lead based paint quote came back $2,000 under so I can apply that towards the roof! 

We are flipping a house that was built in 1920. It has the original Cedar Shake shingles with architectural shingles over top. Should we eat the $2,000 and remove all the shakes and add plywood or leave it as is and go with new shingles over the shakes? We are pretty close to being over budget and every thousand counts right now...

Hey Bryce,

I see you're looking for an Agent in the Charlotte market. I'm a Realtor and have been since 2009. The company I work for has a very broad spectrum of specialties. We flip homes from the $80,000 to $300,000 ARV market and generally tear down $200,000 homes, rebuild, then sell them in the range of $700,000. We also broker deals for large multi-family condos, manage 220+ homes, and have licensed Realtors who try to focus on luxury homes as far north as Lake Norman.

I'm not sure what exactly it is you're looking for, but I would love the opportunity to work with you and help you accomplish whatever goal it is that you're looking to succeed at whether it be directly with myself or a colleague that I can refer you to based on your desires.

Thanks,

Troy Knight
704-619-3302
[email protected]

Jay, 

I plugged your numbers in to my home-brew calculator and it looks like you're going to turn a 22% gross cap rate excluding debt service if you get the property for $100,000. If you manage the property yourself then you're looking at roughly a 16% net cap rate which is unheard of! That's some solid numbers my friend! Good find! Don't negotiate too long or someone else will steal this from you.

I enjoyed having everyone out to the meetup this week! I agree, @Chris T. , let's not wait quite so long haha. And let's put @Sarah W.

Let's try to set another date for one and I can get the post going. Maybe August 19th? 

@Chris T. , Have you been setting this up by chance? I've been out of commission for the last week or so. Hope to see a lot of you all there tomorrow night! 

Just wanted to bump up the post. The sellers are ready to unload both houses! This is a great investment property in the Charlotte area. We manage a home a few blocks down that is 2 bedroom 1 bath and it rents consistently for $725/month!