All Forum Posts by: Trey Thomas

Hey Dawn,

For the most part, yes they do look like that for real estate listings.  I put a little extra love into premium properties though.  I'd be glad to send you over some examples of what I deliver to clients.

Hey Dawn, 

Thanks for sharing your point of view.  We spoke briefly at the first Raleigh meet and I was sitting in the same group as you : ).  It seems like you have a lot of knowledge to offer the group!

For realtors or anyone else using the photos for listing a property for sale, my rates are $160 for homes less than 3,000 sq. ft, $200 between 3-5,000 sq. ft., and $250 over 5,000 sq. ft.  I also offer twilight (sunset/sunrise) photos for an additional $150.   If you're trying to use the photos to market your business we may need to talk more, as commercial rates vary depending on use.   My realtors are selling homes FAST!  Check out my portfolio at www.treythomasphotography.com

Nikki, 

Yes and yes.

Hey Dave,

I should've clarified, the mortgage payments listed above include homeowner's insurance and property tax.  I plan on managing this first one myself, as I'll live 1 mile away, know my neighbors, and don't expect too many repairs due to the age of the home.  But, yes, the "cash flow" will cover all vacancies, repairs, and maintenance.  I plan on starting a savings account specifically for these costs, but once I have a nice safety net in the bank, I'll feel comfortable using the additional income toward property acquisition.  

Thanks everyone!

Hi Everyone,

My name is Trey Thomas and I'm a real estate photographer in Raleigh, NC who has been dreaming of a career in Investing for 10 years now.  I've read a lot on this site and from other sources and am pretty good friends with a few folks that have quite a bit of experience flipping and renting.  I also went to the inaugural Raleigh Bigger Pockets meet and hope to attend more in the future.  

4 1/2 years ago, I made a really good buy on my primary residence 6 blocks east of Downtown.  It was a new home then so everything is still in great shape.  I purchased the home and the vacant lot next door for $189,000.  Currently, I'm using the vacant lot as yard space.  My home and its lot are worth $225,000 now and would rent for $1500.  My mortgage is $993/mo and I owe $155,000.  I owe $10,000 on a separate lot loan which runs $184/mo.

I have my eye on a move-in ready home in a neighborhood that is just starting to see a lot of investor action.  It is priced at $139,900 and I would like to use it as my primary residence.  I will then rent my home at a $507/mo. cash flow and start construction on a new home on the vacant lot.  My contractor, who is also a friend, has built the exact home for $160,000 and I'd list it for $250,000.

Assuming I purchase the home for $135,000 and sell the new house for $240,000, I'll lower my monthly mortgage payment by $404 (incl. ins. and tax), have $70,000 equity in a home worth $225,000, profit $507/mo. from renting that home (meaning I'll have $911 extra each month), another $10,000 equity in a home worth $140,000, and gain around $55,000 cash.

Any objections or advice?