All Forum Posts by: Arthur Schwartz

It is a very interesting situation because a) tax issue b) moratorium on evictions c) morally how do you feel about moving someone out during this stressful time? d) all at the same time! The best option may be to list on the MLS as an tenant occupied property; selling to another investor; to whom you can show that rents can be raised. Let the next buyer deal with the tenant. (PS Zillow and other websites' values are no substitute for an appraisal and their algorithms routinely over-value properties, So you may not get that price.)

In my opinion, you can invest successfully in the New York city area but you may want to put a much larger down payment (larger equity) to get positive cash flow. There are good deals I have seen in upstate New York. If you invest out of state, you want to consider having a good agent or some other way to find deals; property manager to take care of the day to day; and a good contractor in case repairs are needed. An NNN may help since it's low risk. Maybe you can find one near by; where you can invest only a small dollar amount, perhaps with a partner; and with a clearly defined exit date; so you can get your feet wet.

I am sure that there are good and not so good areas in Fayetteville, as in any city.  

I discovered a free tool to look up the flood risk of any address in North Carolina, and I strongly encourage everyone to use it prior to purchasing any property in the great state of North Carolina.  The link is:  

https://flood.nc.gov/ncflood/

https://flood.nc.gov/ncflood/



https://flood.nc.gov/ncflood/

I hear there's a sale in Fayetteville on row boats :)

I like the comment from Brian van Pelt about paying the capital gains tax. My suggestion is to  exactly that :  keep your powder dry :)  There will be better opportunities towards year end 

& in the early part of next year.  Congrats on the outstanding credit score too!  

I live in Raleigh NC.  In NC, the two strongest markets are Raleigh Durham Chapel Hill (the Triangle) and Charlotte, in terms of affluent renters and a broad cross section of employers.  Honestly prices have been so fair, in those two markets, that I have not bought anything in NC Smile :)  All my purchases have been out of state :)  I would not touch anything east of Raleigh or the Fayetteville area due to hurricane or flooding risk.  You can look up Fayetteville flooding from Hurricane Florence; all of downtown Fayetteville was a lake :)    In NC, the only markets where I have seen interesting properties has been Greensboro and Winston Salem.  

Again just my personal opinion.

It is worth paying an appraiser a modest fee to come out and get their opinion on value added versus cost.

\You will have to get detailed estimates from a contractor and the effect on appraised value.  If you can build for $20K but it adds say $30K or more in value then it is worth it

Please keep us up to date on the quotes you get.  I hope you will get at least three quotes.

Get permission to enter the property; then bring along a general contractor to estimate costs