All Forum Posts by: Curtis Waters

Charlotte is very hot!!  Most value is in suburb communities.  How can I help you in Charlotte?

See this Wikipedia article on the Garn St Germain Act of 1986 - Garn St. Germain Act.   This discusses that in many cases Trusts do not trigger the due-on-sale clause.  But tread carefully here!!!  Use an attorney who actually understands Land Trusts (most do not - they don't teach this in law school).  In some cases (such as subject-to), the assignment of the beneficial interest might trigger the due on sale clause.  The Land Trust agreement in most states is a private document, and the Deed to the Trust via the Trustee would actually be the only public record.

But for anonymity and privacy - Land Trusts can help.  If you deed your ownership to a trust - your mortgage or Deed of Trust might still be tied to the property, which makes it easy to ruin your privacy.

I am not an attorney nor giving legal advice.  I recommend that you seek the counsel of a licensed attorney for guidance.

I would agree with @Scott Patterson on zips, and add 28216 and 28217. These zip codes could offer a 9+% return on the purchase price if you buy right. Townhomes or condos - you are paying HOA fees each month which eats into your return and subjects you to special assessments. Yes - the HOA fees are supposed to cover the outside, but many HOAs are run poorly. Many limit the number of landlords as this makes the neighborhood less attractive to homeowners.

I invite you to come to our free meetings held each week (no pitches).  Search on meetup.com for Hobby Millionaire Charlotte.  Scott also holds a monthly meeting.

Harry Marsh at harrymarshlaw.com.  He works with active investors & wholesalers.  Tell him I referred you

Your choice of groups will depend on how serious you are (we offer 4 meetings a week you can choose from) and your investing focus. 

What is your focus? - buy and hold, fix & flip for rental, wholesaling, or high dollar fix & flip.

It is hard for successful people to mentor a new investor - so your attendance at a group that meets your needs is critical.  Visit many meetings and see what works for you.

I use this tile from Lowe's on both floors and shower walls (with a $11 sq/ft accent stripe horizontal).  It is $0.69 sq ft and on sale at times for $0.57.

Lowe's Project Source Alamosa

I have many homes in the Gastonia area that I am optimizing for sale.  I am also a real estate broker licensed in NC and SC.

Rents in Gastonia are within $50-100 of Charlotte rents with a much better return.

Curtis

@Jacob Smith You could either pay mecklenburg times for an annual subscription with daily updates on new foreclosure filing and sales.  Or you could go to the websites for the major foreclosure firms in the area (Brock & Scott, Hutchens Law Firm, etc).  Many of these firms show foreclosure filings that they are a party to on their website.

We welcome Charlotte area investors to attend the Hobby Millionaire Charlotte meetings (search on meetup.com for dates/times).  No cost to attend our meetings held 4 times each week except for Monday in Ballantyne where you must buy dinner.   

For $40k you could almost buy a house!!

Curtis

Mycarolinacpa.com