All Forum Posts by: Zachary Betters

This guy is legit! Emir and his company are top level! Just what you need for a STR company.

so yes, a  lot of things here. We have done seller positions, but only  in  extreme situations and must take serious precautions to protect your interest... like hold back of money until the person moves out. just think  if they  say screw you, im staying in the house... kick me out. Makes for  a bad day, bad month, and bad project.

Longer hold time always = more money cost for you

Regarding inspections, I have bought many houses without, but always got in the beginning, and actually am going back to getting them now.... you  will want  to   know what comes up  ahead of time. especially given such  little margin here.

Imagine  im  a GC, I give you  a quote for 25,000. Then 1 week in I find rotten floors, joist, band sill, broken window seals, and an issue with the electric. 

Now I can fix it all for you, but its all additional cost...  can you  cover it? does this make the project go from successful to a loss?

Structural inspection at a minimum, but getting a full inspection is not a bad idea. if you are going to flip it, someone is surely  going to get that inspection before they  buy it from you, and guess what, they're gonna want you  to fix whatever comes up. Plenty  of inspectors available for 300-600 

Just re read your question, and  noted that it  was the WHOLESALER that recommended to skip on the inspection... SMH. I wholesale properties, so I  am not talking crap, but many wholesalers have never flipped a property  and don't know the first thing about rehab. second, the WS knows his deal is  locked up, and  an inspection doesn't help him at all, only risks losing the deal for  him. 
third, we've done rehabs with GCs and  have had things missed the whole way through a deal, including city inspections, only to  show up on a  final inspection from an end buyer requesting they  be fixed. 


hope this  helps

I would  change  your strategy to allow for a 6-12  month time table to stabilize and increase your available funding partners to continue on with the strategy. I have also come across appraisers that give me a hard time when the purchase price is so much less than what I am shooting for on the refinance.  9  months seems to be  kind of a sweet spot, there are a lot of lending options out  there, people are going to  their local banks, or utilizing companies like ROC capital have been helpful. Make sure you are EXTREMELY clear with what  you are wanting for the refinance, Loan to VALUE not loan to cost, I've had some lenders promise me one thing, and then try  to close the deal another

Well I must say  I'm a little partial to my home market here in Charlotte.  A lot of options exist, some sub markets outside the city for good cash flow, great appreciation plays while cash flowing within the city, Air BNB potential.  Growing city with influx of people all searching for the beautiful Carolina Blue Skies and all CLT has to offer. 
I have boots on the ground here if you want help, Investment company, Brokerage, and Property Management. Can offer full turn key service

Step  one: Check zoning
step  two: see what is most needed in the area, get creative, Single family, duplexes, short term rentals, apartments, storage units depending on area

Steph 3: find a partner that can make sure you are headed the right direction, has the experience and access to funds you need to get  you  there.

We can go farther together than we can on our own

agent  contracts are not great for wholesalers, and confusing. There are many available on line.

There  are  many questions that will come up along the way, some you don't even know  to ask until you get  started down the  deal pathway.

Once you have the basic knowledge, first step is get out and talk to people and make offers. My company is going to  be hosting a wholesaler training on September 17th in Charlotte. 
Great opportunity to  learn some of the basics first hand  in person, make connections, and make  deals  happen

Congrats! Wishing you  the best on your deal.  Keep me posted on how its going and when you  are looking for more deals.
Recommend you  secure your financing STAT, ENSURE your budget  is tight, no room for error and that you are  ready to fly through this. If just managing one property, I would shoot to have it painted and flooring done in 1 week time, not sure what other cosmetic stuff you  have rolling. Quicker you can turn it and turn  your money the better... let me know if you need  anything we do a bunch  of flips in CLT

X-ray  Technology AAS, Psychobiology BS, Physician Assistant Studies MPAS

Residential flipper/builder here, but have come across an amazing opportunity in Charlotte to repurpose a project commercial. Options are to build an apartment complex, or go office/flex space. I know this is a specialty project that is a bit out of my typical wheelhouse, but looking to connect with developers that would like an opportunity to partner on a deal like this. 

Jeff Monfils is great! I will send you his info