All Forum Posts by: Adam Venditti

@Kimberly Gopp thanks so much Kimberly!!! And yes, you're right! I'd hate to sell but also scares me with the HOA's being on the higher side at $300+ / month comp's are really showering closer to $2,000 and $2100 on the higher side which doesn't yield a very good return. If I do sell, the goal would be to dump renovate my primary and cash out refinance into multi family!

@Andrew Freed thanks Andrew!! Really appreciate the insight! And yes, I’ve since bought a new primary so if I refinance my only option would be to refinance into an investment property taking the interest rate from a 3.75% to a 4.3% and the cash out would only yield 15k since I initially only put 5% on the primary!

@Bob Okenwa Hey Bob/ Appreciate the note and I have considered a 1031 but have been thinking about using the cash to renovate my current primary and potentially adding an ADU to rent out which I don't think you're able to apply the 1031 to?

Hey BP Fam!! 

I'm in a tough predicament and am seeking advice on what to do in the following scenario:

I bought a primary townhouse in a nice desirable community in Charlotte NC  in December of 2019 with specs of 4 beds/2.5 baths for $239,500 at 5% down. While living there I house hacked 2 rooms at $750 and $800 bringing in $1,550 and living in the master bedroom. 

This April I closed on a GREAT deal in the heart of a hot market here right outside of Charlotte and rented out my master for another $750 a month now collecting $2,300 a month on the property (I'm paying the utilities). With one tenant moving out at the end of this month, I'd like to avoid renting by the room moving forward and rent to a family/ someone else longterm. 

With owning it for only 1.5 years, there are very similar comps on the same street selling anywhere from $310-$339k a unit. Knowing that capital gains will take a solid chunk, do I hold on or take the cash and dump into my current primary that is a 1930 fixer upper but can yield a very high return as well?

Anyone located in the North Carolina Appalachian Mountains? Looking to connect with investors/real estate agents that know the market and are familiar with short term rentals!

@Trish Mccoy Very generous of you and to piggyback off of the rest of the group, I was in a very similar position that you were in 3 years ago. I bought a house with a significant other and tried to “do something together” to put her name on it while funding 100% of it and ended MISERABLY!! Not saying not to do it but think you should have an exit strategy that is fair to protect yourself upfront if something takes a turn for the worst! Best of luck!!

Hey Christina- Was just curious to hear if you learned more about this and if you and your husband pulled the trigger on something yet? I myself am in a similar position looking to acquire a secondary home in the Banner Elk and would plan on using as a STR and would love any input on your findings!! Best of luck!

I am located in Charlotte, NC and own a 4 bedroom 2.5 bath townhome less than a mile away from Charlotte Douglas Airport in an HOA community. The HOA has restrictions to the number of people who can live in one house so +6 people is not feasible in my current situation.

I understand this is a niche market but what is the likelihood of renting all 4 rooms by the month and what are challenges you are faced?

Great post! What program are you using for this?