All Forum Posts by: Uriah D.

@Jonathan Mueller

Nope. I’ve had both. For me at least I know when my last day will be now. I’d rather work 60 hours a week for myself than 40 for someone else. And I had lunch with all my kids today.

@Drew Clayton

I grab a tyvek suit and one of those dual sided respirators. I do that myself. I bring in pros to do the remediation. Problem is they don’t know how bad it is, so they shoot high. Everybody gets a little scared with the word mold, but as someone said earlier - it’s everywhere.

@Drew Clayton

I second @Drew Clayton. We’ve seen at least 4 houses where this was the case. We pulled down drywall and it was dry behind the wall. Personally, we tear everything out first. Then decide what should happen. Asking companies to look at the surface of what could be wrong hasn’t lead to significant help.

@Louis Cardiello

You’ll have to ask yourself if you want to do this full time. We typically have 5-15 projects going on in the Raleigh / Durham area at one time. End of last year we had 18. Growing pains for sure. Sold those off before Rona.

There are plenty of great people in the area doing far more than us, but if you want to be able to scale, then network and ask everyone you know if they would consider investing with you. Our first few were HML, but I realized quickly we would never survive at those rates. Now we are between 8-12% no points depending on the deal.

@Ryan Groff

I’ll walk you through what I would do based on the info you posted.
1) I’d estimate value of new build comparable 260-275k.

2) if the lots are cleared and ready to build then I’d be buying at roughly 45-50k each. 

I would want to buy both and build the at the same time. This will actually increase the likelihood you’ll sell for higher prices. I’d make it easy and build the same floor plan with different front elevation. 

Let me know if you have any questions. 

We have 2 going up in Durham with similar specs to what you described, however they aren’t in the same neighborhood

@Sebastian Patino I think you called me a few days ago. My apologies for not reaching back out. I left town for a couple days. 
with regards to your statement: over the next 10 years- not a chance. Maybe in 20+ it could be what Cary is today. However, the town doesn’t diversify itself the way Cary does. It doesn’t draw the same people for jobs. The amazon project is huge for that city, but it only solidifies what @Jiri B. mentioned. There will of course be a couple dozen higher paying jobs, but it won’t put a huge dent in the town pushing it towards Cary level

@Dontrea Riser

Rent is due in the 1st. Late fee of 5% of the rent on the 2nd. Eviction papers filed the 3rd. We don’t mess around. I also use cozy for all payments so there is little to no excuse for not making the payment on time.

Cozy does hold the funds for several days, but I know they’ve been paid as soon as they initiate the transaction.

@Ryan Dossey

19k

The problem with 1 contract is it’s harder to sell them off if you need multiple buyers

@Tenisha Walker

How many are you talking? We just did something similar, but had individual contracts because buyers may not be the same person and you need to know what you are paying for each house/property. Unless it’s 10+ properties I’d lean towards individual contracts. Speak wit your closing attorney or escrow company. I’m sure they would have better advice than any of us. Let us know what they say.