All Forum Posts by: Raul R.

Will be difficult, how exactly did tenant break the lease? Will it be one tenants Word vs the other? If so without evidence will not be easy to evict I suggest cash for keys!!! If you really want that tenant out and parent out of your life. I have a 4br/4 ba condo. I rent out the rooms to college students and all utilities are included w caps. If bill goes above the cap it gets divided by 4 as stated on the leases, helps avoid the issues you are having.. I also have a Property Management Company, although my tenants are easy to manage and I can manage myself I don’t know if future tenant will be the same so I prefer having PM in place.. I was my sons soccer coach for most of his grade school, parents can be the worst and I imagine those bad parents continue being bad while their kid is in College..

Start the eviction process immediately with a lawyer. In the future consider getting a property management company if you don’t know how to screen tenants properly. Even by screening tenants there are no guarantees but something tells me a good screening would have raised red flags ..

Karla, When I decided to look into investing in real Estate I looked into these grants. I looked in the tri-State area for properties and made a decision investing in my local area wasn’t the best option for me. What deter me from these grants/programs were all the restrictions. Pretty much as you know your investment property needs to be your primary residence. I thought maybe I can do it once what would I do for my 2nd property? Plus I was in no rush to move and the idea of my tenant being my neighbor I wasn’t too thrilled about. I started looking in different States and landed in Charlotte. Being an out of state landlord is challenging but I don’t regret it. Started 2 years ago and now I have 3 properties in NC with good cash flow, I have no regrets. Here’s my 2 cents, if you plan just to buy 1 investment property and hold on to it for long term these grants/programs might make sense but if you want to grow and buy multiple properties will these grants help you to achieve your goals ??

Cameron Hunter Google him Works for myhomenorthcarolina He’s also my Property Manager, I recommend him. I got rid of my first Property Manager, glad I was able to find Cameron.. Tell him Raul referred you if you contact him...

Charlotte is a hot market as I'm sure you know..

Personally I look for 10% ROI but its getting harder to find thru MLS..

When I purchased my first property 2 years ago I did all the numbers and was always 2nd guessing myself. You will never find the ideal deal even now and typically for the average investor your first deal will not be your best deal..

I did all the numbers back then I was conservative and my ROI I think was a little under 10%. What helped me pull the trigger was changing my mentality, stopped looking for a homerun deal and I told myself regardless of the outcome I want the experience.

I came to Charlotte with 0 contacts, not knowing my way around. I now have 3 Properties, by no means I am no expert or PRO but now that I have a team in place makes it much easier. Without my first property would not have my team now...

As you grow and you have a reputation you will see deals will come to you.. I bought my first SFH recently. An elderly Neighbor a few weeks after purchase looked me up somehow and contacted me, asked me if I would be interested in seeing her Property in my next visit to Charlotte. Told me that she is getting too old to maintain her Property and is thinking about selling in near future.. I haven't done an off market deal without my Realtor but I'm looking forward to it..

How many offers have you made?? Are you using a Realtor, do you have a Buyer Agent?

Did you confirm the type of loan you're getting??

If majority are Investors in Complex and not Owners Occupied Property may not qualify for Fix Conventional Loan.

I own 2 Condos in Charlotte, I can assure you HOA's will go up and theres nothing you can do about it.. The question is when and how much....

Not trying to discourage you, I do agree Condos can be a good start for an Investor like it was for me..

Remember for 1BRs, school district won't matter much because your tenant will most likely not be a family.

Are you being conservative with Rent, $850??

I have a 3br/2ba Condo in University area and I was getting pretty close to that..

Which banks offer Helocs on investment properties?

I’ve helped managed my parents Airbnb. If you plan Airbnb to be your main source of income for your investment property just make sure you know the laws very well. They vary by city. I’m personally not attracted to Airbnb as a long term solution, I find it to be more work than your standard rental. The idea is to collect rent every month automatically with Airbnb I find it to be more leg work in preparing the property every time a new guest comes and goes.

Just curious to you enforce a late fee? I’m clear with my tenants that after the 5th of the month a late fee will be charged regardless of the excuse.. In NC I can only collect up to 5% late fee, I believe every State is different..

I’m guessing you have to pay to get info on that site? If so not worth it just go to your local county site and get info you need. What info are you looking for?