All Forum Posts by: Gennaro Coscia

@Ryan Clements I’m not a wholesaler. I am a buy & hold investor. I wish I had more info for you but I have not looked into how to change the zoning of a property in Durham.

@Michael Ablan I’m not sure how it works in other states (I’m in NC), but my property manager said we send the cops there for “trespassing” if they stay after they’ve been given notice that the lease has ended and will not be renewed. I haven’t had to do this yet, so it is still just “ in theory”.

I have to say Annchen is right on. It's a pretty good cash flow market. But it's really got competitive for anything under 100k. I've lost multiple deals due to competitive cash offers, which beats my 20% down every time, even when I'm dropping large DD#s. Luckily, I've been able to get a few deals via word of mouth and expanding my network there. Feel free to reach out for anymore info. Good Luck! 

@Selena Williams If the seller won’t work with you about these issues, I’d request the DD money back because you are claiming they mislead you about the condition based on things they said they fixed/repaired/replaced etc. Also make sure your agent and their agent knows about all of these issues because then they become “material fact” and need to be disclosed to the next potential buyer. Something similar happened to me with a property, seller immediately said they’d return my DD check and wouldn’t negotiate. But the listing then added the issue I was backing out over in bold letters! And it’s still on the market at the same price weeks later! LoL So IMHO there is leverage to them working with you on these issues. Just remember to rerun your numbers & negotiate to a dollar amount that still makes it a good investment for you. Good Luck!

@Sunny S. If you are still looking for a place in Durham. I have a SFH that has potential to be turned into a multi-family, by adding an ADU garage apt. It's in a great low crime area right off 85 and 70. Let me know if you'd like to hear more. Good luck either way!

I'd call the HOPE program and see if they will allow you to apply for her because she can't/won't. 

@Mark H. Porter  are you seeing many cashflowing opportunities there in student housing? How is the supply/demand for rentals?  My daughter is looking to go to UVM in the fall and it had me thinking of ways to offset her room/boarding costs. 

@Britt Loukos great idea! Other possible streams of revenue, depending on how the property is set up, is trail races. Spartan/Tough Mudder, Xterra Triathlons, etc. After Covid those race companies will be looking for venues. Good Luck!

Yes it does Alex. Thanks! 

I'm looking at land and building new but trying to measure cost vs return(these would be rentals). I can't seem to find builders under $150/sqft. That's fine in some areas but not in others. Do home builders base their price/sq ft on where the property is vs what they are building? Just trying to see if this is a viable option in this market.