All Forum Posts by: Account Closed

@Terry Lewis 

@Bryan H. 

Thank you both! Much appreciated!

Hi all - does anyone have a recommendation for a real estate attorney that works with investors in North Carolina? Specifically in Wake Count. Even more specifically - Cary, Wake Forest & Raleigh areas?

As we are looking to grow, I want to ensure that we proceed legally and protected. I've read/heard that certain transactions are or have become more difficult to do in NC (sub2, for example). In addition, I've read/heard different and sometimes contradicting viewpoints and advice. As a result, I am looking to consult an experienced and investor-friendly attorney, whom we can talk to.

I'd rather pay for some hours of an attorney's time now, rather than get into anything remotely illegal (without knowledge, of course) later on & pay a much higher price.

Thanks - BP nation!

This market is most certainly gaining momentum in the last few years. You can go really high end and attract either end buyers or vacationers that are into "less is more", "getting back to basics", "be more in tune with nature by leaving smaller footprint". 

Some people are more interested in having a tiny home with lots of land around them, so people are interested in a tiny home community with like-minded folks. 

Here is something pretty to look at:

http://www.apartmenttherapy.com/fancy-tiny-house-2...

That's a pretty dicey situation to be in, unfortunately.

Although I love dogs in general, having constantly noisy dogs for neighbors is a deal-breaker, especially in an apartment environment. I get the usual stranger/alarm noise, or the so-happy-to-see-you noise, etc., but constant barking is another issue.

Just this weekend, we toured a house we really liked as a potential investment. We walked outside on the deck to check out the yard and the neighbor's 4 dogs were outside. One was barking & growling aggressively non-stop and an impressive jumper. We stayed out there for 10 mins, stood still, did not make eye contact - yet that one dog was losing his marbles. 

Needless to say, that was a no-deal.

Whatever you choose to do, make sure your health insurance and all that will be covered, as well, not just your salary.

Best of luck!

I believe pets should be case by case. As a pet lover, I'm more than happy to allow pets...up to a point. 

When I rented in the city, my dog was "interviewed" by management. It really came down to temperament and personality of my dog, as well as how I was as the owner. My dog was medium, about 60 lbs, gentle & passed his interview with flying colors. 

Now, we have a tenant that has a retired greyhound, who spends her retirement lounging on the couch. No issue so far in the two years they've been there and we would continue to lease to folks with pets as long as the pets are well behaved and owner exerts control.

If a tenant wants something more like a whole menagerie of pets....ugh...no.

@Holly Cox 

Nice to see more people interested in the Triangle!

My husband & I flew down here for the long weekend to take a look at some properties (& to spend time with family in Apex, of course!). We absolutely love it here.

Best of luck! You'll find a ton of useful information here as everyone is always ready and willing to share!

Wonderful job and congratulations on the quick sale!

How many of these flips do you do on average during a year? Do you work multiple projects at the same time or focus on one?

Do you have projects in other areas, as well (Wake Forest, Apex, Cary, Holly Springs, etc.)?

@Elliot Grochal - I'm in Forest Hills, Queens and have also looked at small multis in the area. There are a few 3, maybe 4 unit (each unit 2/1 or so) newer buildings here. Newer - as in not pre-war.

They are priced around $1.4-1.9m, close to trains and all things, great schools, etc. - so, fantastic location. If you live in one unit and rent out the other 2-3 units @ 2000/each, you will still have to lay out your own portion each month to cover just the mortgage. 

On the other hand, perhaps a more reasonable choice might be to buy a 2 family house and live on one floor and rent out the other floor. Less cost to get in, for sure. But make sure it's legal w/permits and all.

Since you will live in one of the units, part of your decision will be based on where you want to live, right? As you know, there are significant differences (numerically and desirability) between what's available in Forest Hills/Ridgewood/LIC/Douglaston/Williamsburg/Greenpoint/Bay Ridge vs. East New York/even Canarsie, etc.

Best of luck and please let us know how your search goes!

@Roy N. - good to know re: plaster and older wallpaper. will file that away for reference, Thanks!

@Jason C. - I'm down with painting paneling, especially if you are painting it some of white along with the walls. Looks much fresher.

@Bryan N. - I'm not buying this particular house, but asking opinions because I do see a lot of the 80s homes and even 90s homes with some kind of wallpaper or another. Especially, if the house only has has 1 or 2 owners...don't know why. I might have to eventually deal with something similar at some point in time, so trying to get a headstart in terms of how to deal with it most efficiently :)