All Forum Posts by: William Zhou

HI, Everyone

One of my friends am planning to develop a piece of land (around 2 acres) in Charlotte (zoned for multifamily).   We are actively seeking for the following reference: Civil engineering company (for site planing), Architect (for town home design) and general contractors. 

If anyone has good reference please PM me and It will be highly appreciated. I will update the process of the project from time to time.

Thanks

Thanks for all of you. I will definitely talk with them. Actually the lowest bid I got is exactly from Farm Bureau. Maybe I need to increase  the deduction  and   lower the insured value to lower the premium.

Wow, $3k for insurance with $5k deductible? What is the insured  value for your property? I am surprised Because in single family property case, for a value of $250K I normally pay $600 to $800 landlord insurance. 

I just forgot the most important thing: the purchase price is around $225K.

Hi, Everyone

I will close a 5 unit property and am looking for the insurance quotes. Currently I already obtained three quotes: $3000, 2200, and $1900.  (all of them are $1 million personal injury, $1000 deductible).  All these prices are little shock to me since this is the first commercial insurance I have. The property is in North Carolina. To  your knowledge, are these quotes reasonable? If not what is your expected price? Or should I quote more? 

If anyone can recommend a good insurance agent in Charlotte area (NC) I will highly appreciate.

Thanks  

Hi, everyone, I hope this thread will find you well. I am William, from Charlotte, NC. I owned several single family homes and several town homes. I just found that it was too slow to expand the units. Therefore I want to take a look the small apartment buildings such as duplex, quadruplex , ect. However, I found all of them ( I can found on MLS) are kind of crappy: old (most of them are before 1970) and bad locations. Of course, I am new to multifamily properties so I maybe wrong. My problem is how to find a decent multifamily property ( relatively new, not so bad location), etc?

I am also wondering how you guys expand your portfolio quickly.

Any thought is appreciated. 

What a pleasure it has been browsing the forums and reading the priceless information no any other place can offer.

My name is William, lived in south Charlotte (zip 28270).   I have been in Charlotte since 2005. While my full time job is a professor in the university, I am also interested in real estate. I began to buy property from 2012. Till now, I owned 5 rental properties. Though I am really a small investor, I hope I can add the portfolio gradually. 

I have been to this forum several years ago, but not decided to join in since I thought I was not ready for this commitment. But now I realized that if I want to grow in this area I need network, professional supports, etc which are this forum can provide.

I am looking forward to making new friends and connecting with you guys along the way!