All Forum Posts by: Wes M.

@Nathan Simons I have had the same issue. I even tested the application by process by filing one myself. Well, I was charged the $29 but I never received the application results on the zillow rental listing. THIS IS EXTREMELY PROBLEMATIC. 

I would not recommend anyone to allow tenants to apply via Zillow. Please remove this option from any of your listings!

Congratulations on your efforts and thanks for sharing! Indeed, getting paid to live at the beach sounds great. I'm curious how your arrangement with the cleaning company is handled? Are they on call/available every time you have a new guest? 

Hi Loryn,

As @Joe Prillaman stated, be sure to include everything in your numbers. On the MLS, good deals in the $150-200k range move really fast here. Anything that sits in that price range may have some underlying issues. I would like to continue to invest in Wilmingotn, but prices are certainly a factor. And I must admit the recent string of storms and high cost of wind and hail insurance doesn't help matters.

Are there particular neighborhoods you have interest?

Wes

Looks great - nice work! Did you use a local bank or one in Wilmington?

@Eli Frederick

.2% chance annual flood hazard means the property is in the 500 year flood zone. Moreover, the substantial damage/improvement requirements do not apply so you are good to go. However, if you plan to hold the property I would recommend purchasing flood insurance even though it is not required.

I have posted in other threads, but generally be very careful about purchasing flood damaged homes. If you need assistance with due diligence feel free to PM me.

@Eli Frederick

Be very careful purchasing homes that have been damaged and are located within a Special Flood Hazard Area. You can find out by using this site: https://fris.nc.gov/fris/Index.aspx?FIPS=019&ST=NC...

Substantial damage and substantial improvement guidelines apply to structures located within a Special Flood Hazard Area -- in Wallace this would be some type of A zone. The requirements for compliance with Floodplain Regulations is triggered when permits are issued for work. Often times, a structure will require elevation to comply with the Base Flood Elevation. This means that a structure must have it's first habitable floor elevated above the Base Flood Elevation -- which establishes the designation of the Special Flood Hazard Area. 

Feel free to reach out to me if you would like any assistance in making these determinations. Most of the information can be found on the FRIS site. I'd be happy to help.

 I do not. I have looked into at times, but have not yet attended. I hope to do so in the future.

I am interested in duplex, triplex, and quadplex investments primarily. I'm also open to providing insight to others in the regulatory/land entitlement process.

Hi from beautiful Wilmington, NC. The weather is finally starting to turn for the better here in southeastern NC. I am an investor and vendor in the area. My full-time job involves consulting with local governments and developers in land entitlements, ordinance preparation, and coastal development regulations.  I also run a side-venture providing custom property reports and due-diligence services. I've finally decided to create an account on BP after soaking up loads of valuable information - fantastic resource and podcast. When not working I try to spend as much time in or on the water surfing, fishing, or relaxing.

Cheers and I look forward to networking in the Wilmington, NC area!

Wes