All Forum Posts by: Reggie Ramsey

Hello BP, looking to have a lot surveyed for back yard privacy fence.

Just got email today..these guys have legit LinkedIn pages... hahaha but definitely a scam...hopefully they don't get to many suckers

I have a house in Greensboro, NC that I'm interested in purchasing.  I've been able to get the majority of the heirs to this property to sign over their interest to the one family member who is taking the lead.  I have 3 family members who are M.I.A.  I've been told my best option is to buy the house. Once I have the deed in my name, file a quiet title action.  I am very confident that the three M.I.A family members will not challenge the quiet title action.  My goal here is to make sure that once the house has been renovated, I'll be able to refinance and pull my cash out. I'm going to need a clear title to do that. 

75% percent of purchase price and 75% of repairs. 

Congrats!!!

Investment Info:

Single-family residence fix & flip investment in Raeford.

Purchase price: $107,000
Cash invested: $35,000
Sale price: $163,500

The Hottest House . 30+ showings in 48 hours, with 17 offers.. You may be thinking... the price was too low. NOPE. Just low Inventory in the area. Under contract in 3 days and right before Covid-19 shutdown America!

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

I love the location and new it would sell quickly.

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

Believe it or not in the MLS! Highest and Best situation.

How did you finance this deal?

Lumbee Bank out of Raeford!

How did you add value to the deal?

New Roof, new HVAC, new water heater, New Granite... everything new!

What was the outcome?

Project completed in 40 days. Under contract in 3. Buyers initial lender failed horribly...Buyers 2nd lender was amazing.

Lessons learned? Challenges?

I tried to give someone new a chance..and they blew it! I want to say just stick with your usual guys but I believe you should always be looking for more talented contractors in the area.

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

I was the buyers agent when I purchased...and I was the Sellers agent when I sold... I love working with Allen Davidson at Lumbee Bank in Raeford. I also enjoy working with Stephanie Foley at Fayetteville Insurance Services. My Attorney is the best, Rebecca F. Person, PLLC... Tell them I sent ya!

Amazing. Great job

Bruce, this is pretty interesting. I flipped this house a few years ago.. The Same House.  When me and my attorney were going over the closing disclosure statement,  she said these people will probably end up foreclosing.  Check the pictures in my profile. 

Welcome Chris, great to hear you have a 9 year old, who is already interested in investing 

Rebecca F . Person PLLC is who I use.

Jennifer Fincher is very popular, and I know a lot of other investors who use her. 

John Bunce, pretty popular.