All Forum Posts by: Ben Kirchner

My wife and I have been tossing around the idea of investing in a new construction in a growing area where we live (Durham, NC).  The construction would not be complete until 1-1.5 years.  Therefore, the idea would be to lock in at the current price of the construction, providing a low cost initial investment.  Then, when the construction is completed 1-1.5 years from now, the price of these constructions would have risen, as well as values in the surrounding area.  We would then look to likely resell the new property.  

Has anyone done this?  It seems like such a simple strategy, but perhaps there are a handful of things that we are not considering?  

I'm tryign to get more information on tax lien contracts in Missouri or Illinois.  I'm an investor in the area, living out of state.  I'm not sure the laws in regards to this.  Anyone who has experience in tax liens  in these states, I would love to connect and chat more.  

 I would also be interested in a contractor in the St. Louis area.  

Looking to connect with some people who are doing Airbnb in or around the triangle of NC.  I have some long term rentals in Durham, and Garner.  Am looking to expand my portfolio in NC, and looking into Airbnb as a future option.  Does anyone know of airbnb management companies in the area? Also - anyone currently doing airbnb in these areas, I'd love to chat more about what you're experiencing with it.  

I'm looking for opportunities as a buyer to locate seller financing for future investment properties. I'm interested in those who have successfully done this, and how they were able to locate these deals?

Alternatively, I'm talking with others who want to get involved in real estate investing, but are looking to me to most of the leg work as far an locating a deal, analyzing a deal, closing the deal, etc... The partner would be bringing half of the money to the table, and possibly be the one carrying the mortgage under their name. I'm curious if any investor has been in this situation where they are providing all of the "hustle" and half the funds. In this case, I'm looking for a consensus on what a split that is fair to both parties would be?

I ask this because - I currently have several mortgages in my name, while my wife also has several mortgages in her name. One problem we are running into is we have a couple BRRRR deals that show as a huge loss on our taxes. One mortgage company was able to justify the rehab costs as a one time expense, while the majority of mortgage companies aren't able to do the same. With this and some investment properties that have been rented for only 1 year or less, getting new mortgages have been harder than we anticipated. We will continue to seek lenders in North Carolina and Missouri for our future investment properties. However, I'm trying to have a plan B & C in place. With getting another mortgage in my name, or my wife'd name being plan A - if anyone has advice on getting around these obstacles, I would also appreciate it.

I am in the market for a new property. In my area, meeting the 1% rule is very rare, and a hard find. I've recently invested out of state, in Missouri. I am looking for other cash flowing opportunities. My ideal purchase would be a multi-family BRRRR deal. Would like to connect with any realtors who have these opportunities in their area, and discuss more. Please message me if your area has these opportunities, and let's talk more.

Thank you

Does anyone currently do AirBnb in South Durham?  I am currently considering furnishing a room in my house for an AirBnb set up.  I would be interested in anyone in South Durham already doing this as far as average vacancy, price per night, and how the experience has been for you over all.  I appreciate any input.

I purchased my first rental 2.5 years ago. Currently, I have 8 rental units, in two different states. I manage them all myself. Some more hands off than others. I'm thinking down the road. Ultimately, rather than having a house spread out all over, I would prefer one big multi family (apartment) or potentially move over into commercial real estate (would still have a lot of learning to do on that end). I'm curious to what other investors have done in this situation of monopoly (small house, small house small house, then hotel).

I've put a lot of money in on repairs and appliance replacements on some of these rentals, so I wasn't planning on selling soon. I was planning on continuing to acquire 2-3 more properties each year for awhile. However, if I were to sell all of them, I'd be sitting on a decent amount of cash to use toward one large purchase. So far I've thought of large apartment, commercial real estate, or becoming the lender.  I would be interested to hear anyone who has made these transitions, or what other transitions I may want to consider?

Does anyone here have a system set up like OpenDoor for allowing potential tenants to view a vacant unit?  Where an electronic lockbox (with ability to remotely change code)  is just left at the door?  I was thinking of having this.  I have some property out of state.  I'm thinking of a way to set this up, instead of having to hire out someone to do the showings.

One thought was to potentially set up a security camera system.  While no items would be in the unit, I would want something in place in case there was any property damage, or unauthorized people in the house.  

If anyone has experience with this, I would like to hear from them.  What lock box do you use, do you use a surveillance system, has this method been successful for you?

Thank you

Not limited to one or the other. Not too familiar with the market or whats common/available. I've done several SFR here in North Carolina, as that's more what has been available.