All Forum Posts by: Don-Carlos Moniz

@George Despotopoulos, great information. Thank you for the education.

@George Despotopoulos, is that based on a rental property that you currently own, or can it be based on the history of the rental property that you are looking to purchase? Also, the rates, are they based on the bower's credit rating or based on the investment property's income potential? I could see this as a good option for investors, but I am sure lenders are going to exercise a level of diligence in originating these types of loans.

@Andrew Whytock, unless you are buying a turn-key, there are probably some repairs and/or upgrades required. If you are not experienced with estimating these costs and the other costs associated with purchasing a property, I recommend finding someone who can guide you through the process. An investment-minded realtor can help you locate a property and negotiate a price, as well as recommend inspectors and contractors from the local area. Have you already determined your investment strategy? Is this purchase going to be a long-term rental or a flip? How much can you afford (purchase price, closing costs, repairs, holding costs, etc.)? What are your exit strategy options? There are a lot of factors that can affect your purchase offer outside of current market conditions. I know that is not the answer that you are looking for, but it sounds like you need to ask how to find a good realtor to help you acquire a property. If you have a specific deal that you are looking at, post it in the deal analysis section, and members can help work through some of the specifics. I hope this helped - good luck with your investment. 

@Travis Betz, I have not worked with Turnkey Military, but I did jump on their website and look at the properties they are advertising. Nothing about the homes and rents would throw up a red flag for me, but there were no sale prices on the properties. Most of the data they use is accurate, but I would caution that owning rental properties by a military base does not guarantee performance. Military families move a lot more than their civilian counterparts - on average every 3-4 years, and not all soldiers are good tenants. On the positive side, the base's presence keeps the rental demand higher and has a stabilizing effect on our market. I spent over 20 years in the service before retiring in 2020, and now I work as an agent in the Fayetteville/Fort Bragg area. There are more pluses and minuses to investing in rentals here - if you have any specific questions let me know and I'll try and answer them.

@E. Raiola, I am not really familiar with the Cotswold area, but I don't think you will see a big value add for that kind of addition. It may help sell the home faster, and it is sure to add some value to the property. There may be some buyers (photographers or web designers) who might bid up a resale price, but I don't think average buyers will spend an extra 8-10K for that kind of addition. On the other hand, if you need that type of outbuilding, and it doesn't violate any local ordinances, HOA rules, or building codes, then the utility you get may make it worth the investment.

@Manikandaprabhu Arumugam, North Carolina, is a great place to live and invest. What area are you moving to? Like the others have said the Raleigh area and Research Triangle are great places, but finding deals can be a challenge. Charlotte, Asheville, and the Winston-Salem area all have their merits as well. I am an agent in the Fayetteville/Fort Bragg area, and @Patrick Knapp is right; there is a solid rental market because of the base. As @Vinay Kolluru said, what are your goals - those will play a major deciding factor in where to invest your time and money.

@Adam R Gebner, that is great. I just started getting active on BP and it is awesome to see someone in my local area completing a project like that. Good luck on the next one.

@Alex Dem, I realtor in NC and have access to Realist. PM me with the details and I will see if I can help.

@Lien Vuong and @Dmitriy Fomichenko thanks, I'm glad I finally signed up and started getting active on BP.

@Elijah Householder, like the others have said - the North Carolina market currently favors the seller. Our local MLS has about a third of the inventory we would average this time of year, often creating multiple offer situations. I worked with one client for about three months and wrote several offers before securing a deal on the right investment property. There are opportunities out there, but they require patience and persistence to find them. Like the others have said - pick a couple of markets that you are interested in, find a good agent, ask a lot of questions, and don't make a purchase unless the numbers make sense. Good luck, and don't hesitate to reach out if you have any questions.