All Forum Posts by: Andy DeFruscio

Hey Daniel, if you PM me the address I will be happy to do you up a quick CMA for your friend. I live on the border of Denver and Lincolnton on Hwy 150. I will be actually heading over to Lincolnton today to pick up my lawn mower from a shop over that way so I would be happy to drive by the house and see if it doesn't have any other undesirable qualities that we can not see. Talk to ya soon!

Hey @Bryce Davis! I am a Realtor in the Charlotte area and if you are referring to luxury homes or million dollar residences than I am familiar. If you are referring to large multifamily or commercial properties I could certainly recommend a good agent for you. Feel free to let me know exactly what you are looking for and I can point you in the right direction. Thanks!  

@Chris Vacek We have all sorts of Yankees moving down here! Most of the people who live down here did not grow up here. My wife is from Michigan and all of my friends are from out of state. Taxes are so much cheaper down here. If you ever hear of anyone moving down to Charlotte I would love to pay you a referral fee! 

Hey Anthony! I am an agent that works the Charlotte and surrounding areas. I moved down here from upstate NY about 4 years ago and have been an agent for about 3 years. Most of my deals have been outside the Charlotte city limits but I have been recently working with an investor from NJ in charlotte. I have closed 5  or 6 investor deals in the last 3-4 months and I love working with investors. Feel free to give me a call or shoot me an email and we can discuss your plans.

Andy DeFruscio

Keller Williams Realty

704-995-2829

[email protected]

@Jack Knochel I would love to check it out Thursday. I saw it come up on Facebook but the topic gets cut off and it will not give me any specific info if I click on the subgroup. What is the topic for Thursday night? All I get to see is How to build and operat...

Arrow Exterminators. I think it's like $50.

Hey Michael! Welcome to the forums. If you have not already listened to all the podcasts I would certainly do that. The forums are full of sooo much great information. 

I am originally from Albany and now live around Lake Norman. I am an agent and investor so I sell property in Charlotte a lot. Feel free to reach out with any questions you might have. Enjoy!

704-995-2829

I really appreciate your responses. Kathryn, we are using leverage to purchase properties. Right now we have a 30 year mortgage on the duplexs we own. I was considering what route would be best for my dad as far as mortgage terms. I was thinking a 30 year would be better because the cash flow would be better. If we were to do a 15 or 20, we would have very little cash flow until the property is paid off, but a whole lot more after the loan is paid off.

My thoughts were that if there were equity in any properties after 5-8 years, we could take out an equity line and buy more cash flowing properties. This method would never put us in a great equity position in any properties, but would increase our cash flow. 

As far as the properties that we own and plan to purchase, they are lower than the average price of the market but still in a great area. The area around Charlotte is growing and the market is going up. We may need to look outside this market if things change but as of right now the area is blue collar and there is a shortage of rentals. We are purchasing properties for $100 - 200k and renting for $1,600-2,400. The average home in my market is priced at about $280k and only rents for $1500-2,000/month. This is what I meant by "cheaper properties". 

Thanks everyone! 

So my father and I currently own a couple Duplex's together and are looking to buy another investment property. We are at very different points in our lives and I am wondering if we should keep investing together. My dad is 54 years old, plans on retiring at 62 and lives in NY. I am 28, just getting my professional life as a Real Estate agent under way and living outside Charlotte NC. Speaking with my dad it seems like we are both looking for a good cashflow property but I am just curious what peoples opinions were on having the same investment strategy even though we are at such different points in life. I have been looking at cheaper houses that will cash flow good but I know these properties will probably not appreciate much. Does this sound like a good strategy for someone in their 20's as well as their 50's?