All Forum Posts by: Account Closed

I've been investing for over 20 years, but only in the last year or so has the opportunity to go full time really become a viable option. I actually live closer to Cherokee NC ,but I've been investing in the Hickory for about 8 years. I really like the market overall.

Hi Robbie, and welcome to BP! I invest in the Hickory area, so I'd love to meet up sometime and talk. Like you, I am trying to make the move to full time. What kind of investing are you interested in doing? Flips, buy/hold, notes etc.?

I use GV and really like it. I can have it ring to my cell and my home phone. It rings at home with a different ring tone so the family knows not to answer. I also really like the voice mails being emailed to me, even though the transcription is often way off.

I'd like to hear more on this as well. My county makes the GIS data available for download, and I've used the parcel data before. Would GEP allow me to overlay this data onto the maps and query it?

The timing of this post is great for me. I was about to post the EXACT same question. I am getting tons of people calling in expressing interest in selling. But, like @Bob C. I am not getting any really motivated sellers. I am beginning to wonder if I am being too picky and/or being overly conservative on my estimates.

I'm glad to hear from everyone this is normal. I have had a few motivated sellers but their place simply didn't fit my business model. I'm trying to expand my buyers list to hopefully wholesale some of these leads, but my network is pretty small right now. 

Thanks for the feedback @Scott Arpan 

That certainly paints a less than desirable picture of the situation. I'm hoping it will turn out better than that. The required repairs are all minor (mostly cosmetic updating). The majority of the work is going to be getting the placed turned around in terms of management. The property actually appraised for $200k back in 2009, so I think with a little work they can get it back to that.

Ideally, I'd like to sell the note after about 6 months, but if that doesn't work out I will be fine receiving payments for longer.

@Jon Klaus 

The property needing some work and needing a bit of a turn around  makes it a bit of a tough sell. It would be hard for a bank to finance it with the current situation. So, owner financing seems like a must in this case. I would take much less if a cash offer came along.

Great. Thanks Mike!

You can always walk, but you will lose your earnest money. Waking out on a contract is definitely not something you want to do unless you have to. You don't want to develop a bad reputation.

Very good points @Mike Hartzog . Any idea how much the foreclosure process costs in NC?