All Forum Posts by: Gennaro Coscia

Lots of questions here...What strategy (buy& hold, flip, BRRRR)? What price point are we talking? ($100k or $500k?) How much rehab(if any)? and ARV? Have you run all the numbers yet?

First thing is DON'T OVERREACT! I don't know your whole financial situation but let's think about it for a minute. If you have a mortgage (by the sounds of it, you do), your 1st payment shouldn't be until May 1st. The sellers are your tenants until then(April & May), but you don't have a mortgage payment for April. So assuming their rent is equal to(or close) what your mortgage payment is, you should have May and June's payment mostly covered. That gives you over 3mo to find a tenant. Hopefully this situation will be well under control and we will be getting back to normal by then. Good Luck, stay positive and maybe look into a good property manager to help find a tenant. 

I have some SFH in Burlington but have been looking to get into MFH and Greensboro as well. I have an awesome property manager. Found him on the Elon College website for student housing. He's not on BP but he's been doing this for over 30yrs in Alamance County. I'll shoot you a message with his contact info.

I agree with what has been posted already about the Triad and highly recommend it. I just recently bought in Burlington (Alamance County) and with no repairs had it rented out over the 1% rule in less than a month. I think the area is still close enough to UNC Hospital that many people are moving out that way to avoid the higher cost of living in Chapel Hill/Durham and Raleigh. If any of you are interested in partnering on any multifamily or even SFH in the Triad, reach out to me I'd be interested in talking more about it.

@Justin Brown did you ever find the help you needed in Greensboro? I'm looking for similar work, from the original post, on a property in Alamance County.

@Mitch Messer it seems to be a lack of urgency. A nice rental has been sitting vacant for way too long(almost a year). We’ve dropped the price and still nothing. We aren’t local to GA anymore, so it’s definitely difficult to find good people now.

I’m struggling to find a good property manager in Columbus, GA and rural Alabama. There seems to be a lack of property managers and the ones that are there aren’t very good at all. Any suggestions for finding good ones in smaller markets like these?

@Dustin Awtrey

Sounds very interesting! Can I ask why you are building duplexes vs triplexes or quads or larger like a townhouse community? Is there an advantage to duplexes?

@Caleb Heimsoth

Which company is that? And would you recommend them?

@Brian Morreale

Try offering a move-in incentive like $100-200 towards move-in (or as a 1st mo discount off rent) for an approved application. That will generate more interest & it won’t be as much of a cash hit as lowering the rent.