All Forum Posts by: Jonathan Taylor Smith

Have you checked with zoning to see if a duplex would be permitted on the lots?

I completely agree with @Roy N. - but beyond that @Arnold Oh, consider the merits of investing your available cash in fewer properties to own them free and clear versus using your funds as down-payments and getting loans for the remainder to thereby obtain more properties. Cash-flow will be less when a loan is present, but you may control more properties at all time low interest rates. There's a valid argument to be had for both methods.

Impressive @Account Closed - Makes me want to attempt a flip even more versus just doing buy & hold rentals.

Have you checked the Hard Money Lenders listing here on BP for those that do business in NC? And have you ran this property through the BP-BRRRR calculator to see if it still makes sense even with the likely higher cost of Private / Hard Money? And is this an MLS deal or are you working directly with the seller? If the latter, would they consider a Lease-Option allowing you to control and rent out the property now and buy it later once you have the DP funds?

Yes, @Gabe C. and I have had a communication along these lines before; and I agree about some HOA's being incompetent. I try to join the boards, but that takes my time. If I can find a SFH deal that is on par with TH, then I would certainly go for it - but I would not skip a TH just because of HOA concerns, nor would I skip a SFH due to lawn care and external maintenance concerns... Its all in the numbers and calculate your Repairs & CapEx reserves accordingly.

Hello @Shaun Palmer,

For my two cents, every property that I own (4 now, soon to be 5 and working on #6) since starting with REI in January of 2015 is a Townhouse. I do not yet own any SFH, but I'm not opposed. If the HOA dues and rules are reasonable and it meets my cash flow and ROI targets, I like not having to be worried about lawn care / landscaping, exterior maintenance (roof, driveway) etc... However, I'd guess those focused more on appreciation might favor SFH - although some of my Townhouses have done well there also.

Hello @Rick D. - Welcome to BP & REI! Always happy to assist where I can, as I purchased my first property in July of 2015, so it was not that long ago that I was in your exact position. I'm now trying to get #3 rented, doing rehab on #4 and working with sellers to obtain #5 & #6.

Just sent an email... My primary area of interest is Raleigh / Durham North Carolina. Also expanding into Tampa / St. Petersburg, Largo / Clearwater, Sarasota / Bradenton Florida. Minor interest in Charleston / Columbia South Carolina. Would also consider Charlotte, Greensboro and Winston-Salem North Carolina.

J.T.

Thanks everyone! You've confirmed my thoughts... Nice to have confirmation.

I have a back door of a rental unit that has a large glass section (as seen below); and I wonder if I am potentially liable on either side if...

1) Someone just breaks the glass, reaches in, easily unlocks the deadbolt from the other side, opens the door, walks in - and cleans out the place...

2) Or to prevent this, I put a deadbolt on the door that is keyed on both sides, but then there's a fire and the door cannot be opened for escape without a key!

I do provide an alarm with monitoring included for my rentals, which I'd assume lessens my liability in the case of #1 - but just the opposite could also be true. Where does my liability lie?