All Forum Posts by: Brent Zande

That seems like an over the top bathroom for a very modestly priced ARV. Many here have provided some good guidelines and it may be possible that the GC just does not know what level of finish you actually need to put in to sell at the number you want. The effort on your part may be some pictures of finished baths that provide the comps and then have it re-priced based on those concepts. Additionally, it always makes sense to get a few quotes with your GC's until you get a comfort level with them.

Happy to meet with you in Charlotte.  I feel there are still some good deals in smaller multi family here.  

@Devin Bauguess I do not know any of the attorneys that may be able to help you learn in Wilkes County, but I would be happy to pass along some attorney names, via message, here in CLT.  Ehsan has a great point that learning under a wholesaler out of the gate would be very beneficial in learning the numbers and the processes.

Devin what area of NC are you looking to work your wholesale business?  There are some investor friendly attorneys that I could provide contact for in the CLT area and they could lead you through it.

We have an AirBnb in Clt and we saw a lot of upside in going this route.  What made you choose to use this property as an AirBnb and how are you managing it? Yourself or a manager?

This sounds like a real long play.  Are you tying up money, hope not much for the option.  Once you do get approval, assuming you do, then you will have to develop it unless you think you can sell it just with the zoning change.  Getting the community developed is really hard and expensive right now because every contractor that does this type of work is super busy after all of the rains we have had.  

Sounds great.  Hope to meet more peeps in the business locally. Looking forward to it!  

John yes right now I think the fringe areas are at a peak for appreciation and yes we would all look like geniuses if we bought our portfolios in 2011-2012.  That said I think there are flip opportunities in the outskirts and if you go a little bigger, there are some 10 unit or 20 unit deals in the outskirts that have upside longterm because of their current condition.  Your triplex sounds like it is priced for tear down more than salvation, if it is in the heart of CLT  then its highest value may be a new build, just depends where it is.  We have not held anything as a long term rental in the last 2 years, one AirBNB being the exception, the yields just have not been good enough to sit on them when the market is so hot to turn them loose.  The institutional investors have switched to buying land and building new for their portfolios which tells me that they see a drop coming and are not placing capital until it does but they need to keep staff and deploy some money so their investors do not get mad that they are holding too much cash.  There will be a better time to buy long term than now in CLT but it is a good place to flip if you can find the deals.

@John Patterson I think Charlotte and the surrounding MSA is very viable but like anything you have to be diligent with the numbers.  Statesville, Monroe, Gastonia and Kannapolis/Concord are fine sub markets for the product you seek and you will get a b-or c type product and client with no tremendous long term upside.  There are areas closer in like off Beatties Ford and Independence that I think give you a shot at upside appreciation.  Know that you may find a better time to buy in a year or two but if you look hard enough there are deals to be made!  Oh yea avoid Salisbury.  Can’t explain it well but nothing good seems to happen in RE there.  My 2 pennies.

@Jeffrey Stein  Gastonia has some upside in the designated Fuse district-look it up.  For Charlotte , There is an area south of North Davidson st that is transitioning and I agree that Enderly Park is worth a look.  Raleigh rents don’t keep up with the capital investment as well as Charlotte.  Winston is not a big enough economy for my comfort.