All Forum Posts by: Zachary Betters

Do not disturb tenant

Listing to sell the contract to buy this home.

Contact me for more details

Homes selling for >200K in area after reno

Rapidly transitioning neighborhood, outside of Plaza Midwood and Noda.

@Michael Bowman is highly recommended!

We are currently working with Meek Law Firm. Let him know I sent you.

I do a mixture of both fix and flip and buy and hold 

Set up my original LLC myself from online templates, now converting things with the help of a local real estate specialty law firm

Welcome @Bony Mathew to BP and the Charlotte Market. 

Definitely stay active on the forums, look into the many great REI meet up groups around and network. Hobby Millionaire has a bunch of meetings weekly. Check out Meetup.com for a list of the meetings.

best advice I can give is to have patience, do your research, learn the numbers, and stick to what your brain tells you! Don't get caught up in the emotion of just making numbers works due to excitement of your first deal!

Good luck to you!

Zach  

I would try to find a local meetup. Also research average days on market. Quick search on zillow to look just at properties sold in the last 3 months can give you a little idea into market activity. Talking with agents is helpful, however agents rarely have the same mind set as investors. To find agents that commonly work with real estate investors is hard, but talk with local investors. 

finding funding is a huge step, now just be PATIENT for a deal. All to often we let our emotions and excitement to get a deal done consume us. We start second guessing our numbers and pushing the numbers to make a deal look more favorable. 

Good luck!

Welcome toBP. As mentioned the meet ups can be very helpful

We are buyers in Charlotte and surrounding areas.  Feel free to add me to a buyers list. 

We are cash buyers in the Charlotte area as well. Feel free to add me to your list and we should keep in touch!

rough numbers for this property were 

PP 78,000  (lesson learned, some gov't foreclosures require the buyer to pay commission, so we paid more than we expected)

rehab was 23,000

holding/closing/sale cost ect 16,000

sale price 133,000 -2,750 back to the seller

Profits: 16,000

purchase to close: ~ 8 weeks.

Unfortunately not as smooth of a flip as we would like, but I suppose few are. Lots of learning. Maybe I can write another post later with details but we did have contractors for the work, I worked to watch over the progress of the project. I wound up helping with more of the work then desired for sure! Had a contractor walk out half way through the project 2 days before the professional photographer was coming in for pictures, and nearly none of the finishing work was complete!

A little hustle, some hard work and perseverance, we delayed the photos/marketing for 1 week and still had it on market within our original goal.

Of the four deals, one on market foreclosure. 3 off market properties from contacts made during above noted flip. 

Hope this helps to answer some of the questions poised above