All Forum Posts by: Christine Glasner

@Steven Muller

I live and invest in Statesville. You are correct that it has a way to go to be competitive for flipping. However, the rental potential is definitely there. I have not paid over $20 for our rentals. One of them was a pair of pair of duplexes that we paid $17,900 and get $400 for each unit. That was a foreclosure deal, so probably not typical, but the deals are here. If you find a property you are interested in, I can likely let you know what the neighborhood is like and what you could get for rent.

Best of Luck

Hi @Kathy C. , welcome to BP. Now that you have the first rental the other will come more quickly. I had the same problem with minimum loan amounts.

@Gabe Everhart thanks for the contact info. I'll make note of that for future projects.

It just so happened that we got a yellow postcard recently about one of our rentals and how they were interested in buying it. They did not use the address, but the tax id number, so I had to look it up to find out which property they were talking about. Interestingly enough it happened to the be the unit that got hit by a truck 2 weeks ago and the county condemned due to structural damage. We've been cashed by the insurance company and the guy behind the property is interested in it. If that falls through, we call the people from the post card.

Hi @Elsa Woods , welcome to BP. I think it's great that you are getting your license. I'm trying to talk my husband into getting his for us. Best of Luck!

Welcome to BP, I'm sure you'll love the NC area. Best of luck with your business plans.

Update on the property: The insurance company has cashed us out and we have our money already. It was much easier and cheaper for them to cash us out than to try to repair the building. The guy that lives behind the property wants to buy it, so my husband and him are meeting to see if they can come to an agreement on price and whether it will be demoed first or if he will take of that. I have to say this was the easiest insurance claim I have ever had. Thumbs Up to Foremost.

@Siye Baker

we are very glad no one was seriously hurt. I doubt the gentleman will have a driver's license after this. We have submitted all paperwork on our end. Now waiting for the final word from the insurance company.

@Ryan M.

we expect to be cashed out by the insurance company. The guy who lives behind the property is intersted in buying the lot if we don't put another house on it. We are assessing our options. One thing we will do, is pay of credit cards. The rest we going to sit on for a while and find the right opportunity.

@Bill Sargeson I'm in NC too. I would like the bank name as well if that's okay.

@Kimberly T. ,@Shawn Thom & @Deborah Burian thanks for the suggestions. We believe the cost to repair will far outweigh what we are insured for and the company will cash us out. Luckily, we had another tenant move out, so these tenants are moving into that unit.

The guy who lives behind this house is interested in buying the lot (1acre). There is also a house that the county has put up for tax auction that we are interested in. Right now we are considering all options and just waiting to see the final outcome from the insurance company.

@Brandon Turner . The insurance adjuster was at the house yesterday along with our structural engineer. He agreed with the engineer that house is a total loss. The engineer is writing a report for the insurance company and hopefully they will cash us out soon.