All Forum Posts by: David Burns

@Bryan Potter I'd say you found a pretty good deal. I would think rent would be around $1,000 but have no data to back that up. I have two SFH's in KD and the rent for a 3 BR is close to $1,400. Good luck with it.

@Marvin Meng. Was she hot?

@Abigail Veit Why house hack now? Buy a property, rent it and continue to live with your parents. Keep saving until you can buy the next one. Ride the gravy train as long as you can.

@Dan Rowley It was just a joke, Dan.

@A Schwartz Cary actually stands for “Can’t Afford Raleigh Yet”.

@Matt Polinchak

Love the equity you’re getting each month. Looks like you only had to put 10% down? I’ll have to reach out to your lender for my next one.

@Matt Polinchak Help me understand your numbers a little better. I assume your taxes and insurance are escrowed so I can’t see how you got to a mortgage payment of $916 when considering your purchase price and amount invested. Raleigh is a great market to be in so you’ll do well with this one.

@Ashley Rummage So you're putting $50k cash into it? $20k for down payment and $30k for repairs? Seems like a low ROI. I would think repairs will be less than $30k if that's all you're doing.

Why are you paying an agent a fee for bringing this to you? Is it not on MLS?

Can anyone recommend a portfolio lender in the Raleigh, NC market?

I'm in Raleigh and I've made offers before without seeing the home.  Usually I feel I have enough margin to handle anything unexpected.  Obviously there could be some big things that eat up all my margin but usually those are low odds. I'm always embarrassed to make an offer that's very low.  Generally my offers will be close to what I think they're bottom line is.