All Forum Posts by: Brandon Purdeu

@Chris Martin I’ve tried LoopNet and costar... nothing of interest on either. The ones in Fayetteville aren’t really worth looking at. I haven’t pulled costar reports in Charlotte so I might do that tomorrow. 

Actively trying to find gas stations in the Raleigh, Charlotte, Fayetteville, Wilmington areas that would entertain offers from a purchaser... I have a client that is looking to add to their current portfolio so if you know someone please let me know or connect!

I am considering trying to bring some of my construction in house. Looking for advice for anyone who has done that in the past and to learn from some of their mistakes... 

Presently my company consists of three people. Myself where I act 80% of the time as a full time residential broker and 20% on my flips. I have a full time project manager, who schedules sub contractors, general contractors and handles the materials ordering for job sites. Lastly I have a part time admin who runs may back office and marketing. 

My model all along has been to hire contractors to do the construction from start to finish to which I've always been very slow in the remodel process due to their timelines and poor contractors in the past. I have found a general contractor that I like his quality of work and his pricing is competitive or below market rate on most items. He has a crew of about 6 and great connections into the building world as he's been in business for 30 years... 

However I get frustrated in the delays I suffer from him running too many projects. I have considered bringing some of my construction in house perhaps 2-3 person crew that can handle my tile, painting, trim, cabinets, flooring etc... With the project manager they would have adult supervision most of the time but I worry about the real costs of Workmans comp, liability insurance increases etc... 

We currently do between 2-4 projects at any given time. As a realtor if they were slow I could turn them onto due diligence repair requests to keep them busy when they may be out of projects... 

Thank you for any advice you can share... 

let’s get it!!!

Why FHA!!! I'll see if I can get them into a conventional 95%. I'm getting conflicting opinions from mortgage people. Being told it can't close before the 91st day nothing about contract date. I'll post an update once I get one from the buyers lender.

Is anyone spun up on FHA minimum hold guidelines? We bought a flip January 17th and finished it and put it on the market last month. I accepted a contract on the home this weekend and it was for an FHA loan. Didn't cross my mind until this morning that I remember something about a required ownership period of at least 91 days prior to selling or accepting a contract. As is right now we will close before the 91st day (April 10th). Any mortgage brokers that can give me some advice on the topic would be appreciated.

I've got the buyers lender looking into it and my mortgage broker looking into it but no answers as of yet...

@Account Closed hit me up when you get in town!

@Account Closed we get together 2nd Tuesday of every month for the REIA meeting. This month will be at the hickory tavern in Pinehurst.

If your judging our Facebook page it was just started a few weeks ago so please bear with us while we get it up and running! 

Attorneys: I use Frank Thigpen personally but he probably isn’t the best for subject too. I’d give either Paul Trevarrow or Mia Lorenz a call. Those are all Moore county people. In Fayetteville I use Singlesource but have been let down a few time recently by them.

I’d have to agree with @William Ayres, there is additional liability with the rent to own option. Also consider the tenant class that is attracted to rent to own... generally the type of person that wants to buy but can’t qualify... 

I’ve never done rent to own personally, I have a few friends doing owner financing in the area and that works on the right types of properties, but not all. 

Hey Michael, 

I am a realtor working in the Fayetteville, Hope Mills and Raeford markets. I can help if you haven't found someone. I also flip and invest in the same markets.