All Forum Posts by: Terry Johnson

I guess this really depends on your perspective. My wife and I manage all of our properties because I would find the level of service you describe to be totally unacceptable. We have a group of subs that we have built relationships with and can depend upon. Unfortunately we had a higher number of HVAC calls this summer and yet only once did it require more than 48 hours to remedy from initial call from the tenant to repair being closed out. The one exception was a full replacement and we still had it complete within 72 hours. This might be more exceptional, but I believe being responsive as I describe helps us build rapport with our tenants (customers) and I think it's a big reason why we experience very low tenant turnover. 

Hi Russell - I’m in the process of doing what you describe, but here’s how I’m approaching it. We live and invest just north of Charlotte and right now it’s very difficult to find great deals for the type of houses we want to hold long term. So until the market becomes more balanced, we’re going to build a spec house, one at a time. We’ll actually put it on the market to sell as we near completion and give it about 30 days after completion to be sold. If it sells, great! If not, we will happily add it to our portfolio. 

So with our approach, we need to balance both what will be attractive to sell and what would also be durable, lower maintenance for rental. Obviously they are often one in the same, but we’ll make a few different decisions because we’re thinking about one or the other. We close on the lot in 2 weeks and are building a 2500 sf, 3B 2.5B. I do have my NCGC license so that certainly makes a difference  

Anyway, we’re excited about the project and feel it’s a win-win for us. 

@ Mark DiPietro - not involved in any local groups, but open to it. Please include me if you guys are able to pull something together. Thanks!

Hey Mark - we have several properties in the LN Area and I've rarely been able to hit the 1% ratio, 75% ARV or other more traditional means of measuring value upfront. It's not that I haven't worked hard to find better values, in my experience these opportunities just haven't been as plentiful as in some other markets. However in spite of the higher up investment, we have seen steady appreciation, low turnover, nearly always rent quickly and overall have been happy with our investments and their returns. Anyway thought sharing our experience may help at minimum firm up your expectations.
Good luck in your search!

Hi Porscha- can’t provide any tips on virtual wholesaling. I am however an investor/builder and operate just outside the Charlotte market. So I might have an interest in land at wholesale. 

If you like, please send me the detail directly. 

Terry