All Forum Posts by: Eugene Rabinovich

@Cole Simpson

@Cole Simpson agreed. i think thats where our heads are at as well. 

Hey everyone,

My wife and I are ready to buy and have found a great single family home that will cash flow between 8-22% depending on what we negotiate it for and how much we can rent it out for but should we buy it or wait until we find a multi family?

Originally, we were dead set on a multi family since we would actually save money and double our profits once we get the units filled. We found a great turn key single family 15 minutes from Charlotte city center, nee HVAC and updated interior (floors, paint, appliances, carpet, new bath, etc).

Like I said, this property will cash flow and seems to be a great investment BUT here's the thing..

I have a full time job (making over $60k), my wife just lost her job due to covid but is pursuing wedding/event photography full time and we don't have too much in the bank for reserves. We are planning on buying our first property with an FHA loan and planning to save money.

Unfortunately, we won't be able to save a dime while living in the single family home.. so now we are questioning if buying a SFH is worth it since we will be in the same position we are now in about a year.

Now, this property is USDA eligible so we MIGHT save money on the initial down payment but it would be very difficult to save any money for our next property..

Finding a multi family home would be ideal but the ones we have found are in not so great areas. I wouldn't mind buying a property in a crappy neighborhood if it made sense but I don't want to put my family there, even if it's for a year.

Thank you for taking the time in reading this long post, it's much appreciate 🙌🏻

Hey everyone,

My wife and I are ready to buy and have found a great single family home that will cash flow between 8-22% depending on what we negotiate it for and how much we can rent it out for but should we buy it or wait until we find a multi family?

Originally, we were dead set on a multi family since we would actually save money and double our profits once we get the units filled. We found a great turn key single family 15 minutes from Charlotte city center, nee HVAC and updated interior (floors, paint, appliances, carpet, new bath, etc).

Like I said, this property will cash flow and seems to be a great investment BUT here's the thing..

I have a full time job (making over $60k), my wife just lost her job due to covid but is pursuing wedding/event photography full time and we don't have too much in the bank for reserves. We are planning on buying our first property with an FHA loan and planning to save money.

Unfortunately, we won't be able to save a dime while living in the single family home.. so now we are questioning if buying a SFH is worth it since we will be in the same position we are now in about a year.

Now, this property is USDA eligible so we MIGHT save money on the initial down payment but it would be very difficult to save any money for our next property..

Finding a multi family home would be ideal but the ones we have found are in not so great areas. I wouldn't mind buying a property in a crappy neighborhood if it made sense but I don't want to put my family there, even if it's for a year.

Thank you for taking the time in reading this long post, it's much appreciate 🙌🏻

Hi everyone, 

There has obviously been a lot of positive and negative speculation on the 2021 housing market due to Covid. I'm interested in hearing your opinion's on the subject and what you think will happen. 

thank you! 

Hey Jeremy, 

i'd love to connect. My wife and I will be investing in 2021 and are interested in Concord. 

@Jared Wonders thanks for the tips, i will add this to my notes and will look into them a little deeper. 

Are there any work arounds for out of state investors in SC? I am originally from SC and have family there but I reside in CLT currently. 

@Account Closed im definitely interested in RH. I think the town is going to be very popular in the years to come as long as the city is putting money into it. I do need to understand how taxes between NC and SC work in addition to benefits and disadvantages 

@Mike Shearer i have a few realtors who put me on an automatic email list but i dont know many wholesalers yet. I'll be going to a CLT real estate investor meet tonight. I think there are a few wholesalers in the group so i will get their contact. 

If you havent already, join the Charlotte REI Masterminds group on facebook. we are meeting at Optimist Hall today around 5.

@Mike Shearer thanks for the reply. My wife and I have been researching REI for months now and are close to being ready to buy. our next step is to get pre approved then once we figure out our budget it will be easier to find properties knowing what we can and can't afford.

How is the kannapolis area? we are going there soon to check out the area but i've found some pretty decent cashflowing properties. i just dont know much about the town. 

What's everyone's thoughts on surrounding areas such as Rock Hill, Kannapolis, Greensboro/High Point?

Semi new to the area (from SC) so I am learning about the surrounding towns. My plan is to house hack first then invest in multi family long term.