All Forum Posts by: Chris Ayers

Correct and that's my question.  How are these other people making it work?  Could they build for a lot less?  Are they throwing up cheap crappy homes? 

Not sure. Having trouble finding a true ARV. Asked one local realtor and he said 135k but when I research on the words "brand new" within the square footage it's showing it much higher.

Hi Mary, 

People are offering low ball offers of 3K so I don't know how much it's really worth.  My WAG is 8-12K. 

The land is not actually mine it's my mom and uncle's so they would make money on the deal and not me. I did convince them to let me build on it so that's why I was trying to make it work. 

My family owns a plot of land in Ocala Florida in Silver Spring Shores. We get letters in the mail daily about people wanting to buy it. This made me think the area is picking up and is now desirable. 

Did some research and found out that to build a modest 3/2/2 home 1600 sq ft with a builder I somewhat trust is about 135K.  Rents in the area are around 1k per month - not meeting the 1% rule which I try to follow.  

Is there any way to get these numbers to work? Should I look at this as a flipping opportunity and not a buy and hold?  

Any local advise on this situation and the area is appreciated. 

 Are these portfolio lenders you were speaking to them about or Conventional?  

@Christopher Guin  
Welcome. I invest on the other side of you in Concord/Kannapolis.  I'm always on the lookout in your area for multifamilies. It definitely has the potential to blow up at some point.

Good luck. 

No problem. 

How come the out of state investing now? 

No problem. I'll ask around. 

Any reason you guys are moving away from your areas of expertise and looking out of state. 

I know you guys are pros, but be aware.  That area is kind of rough too.  Military folk call it "Fayette-Nom".  

Good Luck. By finding this site you are ahead of the curve. I wish I learned about it before I made a few mistakes. 

My in laws live near there. At one time that place was booming with furniture manufacturing factories (hence the famous Thomasville furniture store).  They have tried to revive it with no success. All the factories have closed down and now everything is made overseas but they kept the name. 

This is just my opinion based on spending some time there, but that area has a long way to go before the economy is back on track.