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All Forum Posts by: Wyatt Wolff

Wyatt Wolff has started 6 posts and replied 452 times.

Post: FHA after purchasing at an auction in MA

Wyatt Wolff
Posted
  • Lender
  • Charlotte, NC
  • Posts 466
  • Votes 278

I'm not certain about the question. Are you saying that you already own the property, and you would like to refi into an FHA loan?

Post: CLT December 2023 Update: Housing & Finance Edition Charlotte NC

Wyatt Wolff
Posted
  • Lender
  • Charlotte, NC
  • Posts 466
  • Votes 278

Love these.

Post: School district consideration in MTR strategy

Wyatt Wolff
Posted
  • Lender
  • Charlotte, NC
  • Posts 466
  • Votes 278

I would say that schools probably are a LARGE contributing factor if that is your target demographic. CMS in general is rough, but there are some good schools mixed in. Personally, I would shoot for Myers Park or something similar. Union County schools are also good 

Post: Lending snobbery - DSCR loans

Wyatt Wolff
Posted
  • Lender
  • Charlotte, NC
  • Posts 466
  • Votes 278
Quote from @Lisa H.:

@Caleb Sonneman I agree! I moved on. Found someone more top tier (from here). So far, so good! Now I’m just trying to find those deals!!!!


 There you go!! Thats the way to do it 

Post: Own land - want to subdivide and joint venture with builder

Wyatt Wolff
Posted
  • Lender
  • Charlotte, NC
  • Posts 466
  • Votes 278

Both of the above seem like killer pieces of advice. I agree, I think lots would be much easier and quicker to move. 

Good Luck!

Post: MTR-Fully Furnished suburban property

Wyatt Wolff
Posted
  • Lender
  • Charlotte, NC
  • Posts 466
  • Votes 278

@Meir Preis I like it. Going to shoot you a DM. 

Post: What do you think about this fast route in becoming a full-time investor?

Wyatt Wolff
Posted
  • Lender
  • Charlotte, NC
  • Posts 466
  • Votes 278

@David Sanchez

I love the confidence and enthusiasm. I would look into tech sales, and other high ticket sales. If you are as confident as you seem, you will do well. Learn the product inside and out, and then sell. Not the other way around or you will break your own confidence. 

That said, find someone you can shadow/ mentee under. If your goal is to move fast, you will have to dedicate almost all of your income (at first) to learning the skillset and the ropes. Pay your dues, if you will. Mega Cap companies hire consultants to tell them what they need to know, they streamline the learning. They pay to remove the time and error barrier. Do the same. 

Lastly, treat it like a professional athlete would treat a sport. Break it down. How do you sound when you speak? Cadence, syntax, etc. (Thats your footwork). Do you know the product (thats knowing the rules of the game). Do you rest/rehab yourself and your mind enough? Much more. 

Check back in a year? 

Good luck and God Speed buddy 

Post: 60 of the 100 largest U.S. cities now negative rent growth

Wyatt Wolff
Posted
  • Lender
  • Charlotte, NC
  • Posts 466
  • Votes 278
Quote from @Scott Trench:

I bet that once you segment the data by property type (multifamily vs single family), you get more variance, and I bet that the decline in multifamily rents is much larger than the decline in single family or small multifamily rents. 

It would be interesting to see that breakout. 

It's been a bloodbath for multifamily. 

Chunks of generational wealth have been wiped out for many families and investors. 


 Strongly agree. Charlotte market single family rents have remained strong. Multifamily, not so much. New, class A assets are coming in under the projected rents that they used as terms of finance. Its a ROUGH market. On top of that, you are looking at an exploding supply here, and young renters who are okay sharing a house/ househacking. What's living with some roommates when you just moved out of your parents house? 

Post: MTR-Fully Furnished suburban property

Wyatt Wolff
Posted
  • Lender
  • Charlotte, NC
  • Posts 466
  • Votes 278

I'd love to hear more as well!

Post: GA Industrial Rental

Wyatt Wolff
Posted
  • Lender
  • Charlotte, NC
  • Posts 466
  • Votes 278

Nice!! Would love to own something like that