All Forum Posts by: Anduril Elessar

@Patrick Menefee - Sure I'll DM you my number. I noticed everyone more or less uses his or her real name? My name is just a LOTR reference here but I guess I should change it... Definitely interested to have some more conversations.

@Laura Shinkle - Thanks so much for the detailed post and some quick market level stats. Would love to talk to you and discuss further. I'll DM you. 

@Daniel Shchyokin Interesting to hear that, I haven't reached out to realtors yet, but I guess that anecdote tells me that properties move relatively quickly? What other markets are you looking at? Interestingly enough, I probably spend my time 60% in NYC and 30% in SF so I'm out there relatively frequently....of course those two markets happen to be way to expensive for any cash flow investing. 

@Raul R. Sounds like you've been making investments in the area based out of NYC? Would love to talk more and grab a coffee in NYC sometime. From what i've heard, folks have started to look outward to other areas like Gastonia, Concord, etc. I haven't seen those areas just yet but planning to make a trip soon. 

@Matt D. I'd love to chat with you! Always appreciate a local voice to learn more about what's happening. How long have you lived in Charlotte for? How are your initial deals going? 

Hello everyone - 

I wanted to introduce myself to the forum. Been an avid bigger pockets lurker for quite some time and I'm gearing up to actively invest with my family in RE utilizing the BRRR method as well as looking for simple cash flowing properties. My parents are contemplating a move to Charlotte for some family reasons and are looking for work. We've heard a lot about the real estate market there and we're interested in building out a portfolio of cash flowing properties. Over time we'd like to move into more appreciation type markets but for now we like BRRR.

We're from NY and are trying to understand if the Charlotte (and any smaller cities up to 2hrs away offers good opportunities). We have a little under $1M that we're looking to allocate toward investments in the area. My day job is in the VC industry so being able to manage properties from out of state would be important. 

Would love to speak to anyone local that might be able to help provide some color, assemble a team, and potentially tackle some deals together. Looking forward to hearing from you and continuing the conversation. Thank you for your valuable time!

Got it thanks! Is there no way of structuring something post FHA - perhaps at a refinance 1 year later where my partner and I can split the equity interest 50 50?

So it sounds like we should opt to move to a conventional mortgage instead? Would we still get a little bit of benefit of having a part owner occupy a unit? Or would a 20% downpayment still be expected? 

Hello new member here. A friend of mine is looking to purchase a MF home in CT. I told him I'd be interested in coming with him, doing some light repair and renting it out to someone. We want to use an FHA loan with him being the owner occupant. I will put cash and sweat into the deal.

Is there a structure that will make this work with both of us owning the property on paper even though he will be the one getting the loan and living in it? Could he take full ownership and then after everything is rented then sell me 50% of the equity for $1? Or do i have to be behind the scenes and not on any paperwork? Thanks and sorry if this has been answered before.