All Forum Posts by: Scott L.

Hi all,

I'm a new investor in Charlotte and am building out a lead generating system. I have two questions:

1) What is the average rehab cost/sqft  (cosmetic, light rehab, and full gut) in the Charlotte market?

2) Who are the biggest cash buyers of properties? Would really appreciate it if anyone can connect me to buyers for properties which may not fit my investment strategy.

Thanks BP community!

Scott

Hi John,

Things are moving along well. We're hoping for a June closing date. If you could send me a massage and share your contact it would be appreciated. We have big plans with the property!

Thanks,

Scott

I'm looking for one as well and am curious to see if someone can recommend someone.

Thanks everyone, glad that we've inspired some like minded individuals. The property is a 3 family with an owners garden unit and two 2BR apartments which need a full gut. 

I know that there are some serious hurdles with NYC renovations requiring permits, etc. I would like to hire a contractor who can do all the work that requires permits. We're definitely going to do the work which doesn't require permits.

Preliminarily, I am thinking it will need electrical and subdivided gas lines run throughout the building, new plumbing fixtures, and a new roof. All of these I know require permits but I need a contractor who is able to look at the scope of work and tell me what I may need permits for.

Does anyone have any contractor recommendations?

Hi All,

I would like to share my first real estate negotiation story as it is a great case study on persistence. 

My wife and I are in contract to buy a triplex in the Bushwick neighborhood of Brooklyn. We offered at our preapproval max and were initially rejected by the seller after two weeks of negotiation. Rather than walking away, we asked them whether we could strengthen our offer and bring in an inspector before they accepted our offer. A few hundred dollars our of pocket later they realized that we were serious buyers and determined that our persistence to close the deal made us a better candidate than the several cash offers who offered more money. Persistence pays off!!

Now that the deal is near closing, we are beginning to think next steps. The owners unit has been renovated but the two rentals haven't been renovated in decades. Does anyone know any good contractors who do good work in Bushwick? We want to hit the ground running.

Also, are there any good Brooklyn real estate clubs that anyone knows about? We would love to get more involved in the real estate investing world locally.

Thanks in advance!