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All Forum Posts by: Gregory Walter

Gregory Walter has started 5 posts and replied 88 times.

Post: Property Manager Wanted

Gregory WalterPosted
  • Charlotte, NC
  • Posts 101
  • Votes 40

I am local property manager considering referring my clients to another firm.  If you are seeking new business, can you please answer the following in an email to [email protected]

Referral Fee: What is the referral fee you would pay me if I were to refer my clients to you and they sign with you?

Fees: What are you property management fees, including leasing fees, general management fees, and any additional fees charged for services performed in connection with property management?

Experience: 
How many rental units do you manage? 
- How many years of property management experience does our would-be property manager have?
- How many people do you have on your staff and what is the high level breakdown of what they do? ex. 5 staff, 1 property manager, 2 assistant property manager, handyman, admin, etc.
- Do you have a handyman employee or independent contractor that works for your company for more than 30 hour per week and how much do they charge for their time and how much do you charge for this person's time?
- How many evictions have you handled? What is your record of wins or losses in court?
- What is your staff's experience level in construction?
- Have you ever rented property by the room?
- Have you ever rented property for airbnb?
- Do you own your own rental property personally that you manage?

Service:
For any business I refer you:
- How often would you inspect the property?
- How often would you personally show property you have for lease?
- Do you handle evictions if necessary and at what cost?
- What is your typical turn time to lease a property?
- Do you post on facebook marketplace?
- How quickly do you guarantee to return rental inquiries?
- Can you share a summary of your service level agreement (what work you guarantee to perform and at what rate)?
- Do you have vendors for all services that you can hire at wholesale rates?
- What type of reports do you provide and how are they provided to the client?

Post: HVAC Contractor Wanted

Gregory WalterPosted
  • Charlotte, NC
  • Posts 101
  • Votes 40

I am looking for a HVAC contractor to install one 3 duct run with 3 registers.  I need a licensed professional and the work needs to be permitted.

I'm a Real Estate Broker and Investor from Charlotte, NC. I had a few days and decide to take a trip to Jacksonville, FL to scout neighborhoods and property.  I'm looking for a local broker in Jacksonville, FL or nearby by to assist us in our search.  I'm willing to pay 2% as a buyers agent fee.  I own a portfolio of property in Charlotte worth over 3 million, mostly free and clear.  I could buy 1-3 million worth of the property in the next year or two in Jacksonville if I am able to build a good team down here.  I'm in town today and tomorrow.  Please call or text 704-685-5996 if you'd like to work together.  Or please comment with your recommendation for a Broker.

Post: Hard Money Equity Line Of Credit | 5-day close | No Appraisal

Gregory WalterPosted
  • Charlotte, NC
  • Posts 101
  • Votes 40

Hi Steve, 

Can you please send me some info on your loan programs.  Especially any that you have the have a longer term (for buy and hold, not fix and flip).  Thanks

I can't think of many areas that a 3 bedroom 1 bath home in Charlotte is going to rent for 1500-1600. I love the Do It Yourself attitude on bigger pockets but judging from the broad base of your questions, either the best course of action is to do A LOT of reading quickly or find a real estate agent to help you.  Otherwise you could find yourself in a deep water very quickly.  There is a lot to know and you don't want to make a big mistake that could result in a lawsuit or other headache.

Post: Seller Financed Deal in North Carolina

Gregory WalterPosted
  • Charlotte, NC
  • Posts 101
  • Votes 40

I haven't found ones with reasonable rate with low/no points for long term loans yet.  Which ones would you recommend I look into?

Post: Seller Financed Deal in North Carolina

Gregory WalterPosted
  • Charlotte, NC
  • Posts 101
  • Votes 40

To me, the single most annoying part of real estate investing to me is dealing with mortgage loan originators and banks.  This is due to the shear number of rules, black box underwriting via desktop underwriter and loan prospector, the type of person the nature of the MLO/Underwriter professions tends to attract and retain, among other things, that make it near impossible for a debtor friendly experience.

I'd like to cut out the bank.  My clients feel the same way.  I work with a few well healed investors and invest in real estate myself.  Everyone I work with has good credit, significant net assets, strong income from multiple sources and is an experienced operator.  I work with mostly high net worth individuals and accredited investors.

Is there anyone on here that has a connection to a pipeline of real estate for sale with the possibility of seller financing in the Charlotte metro area or another area?   

Post: Wholesaling is illegal in NC?

Gregory WalterPosted
  • Charlotte, NC
  • Posts 101
  • Votes 40

If a REALTOR doesn't want to deal with because he thinks your breaking the law either 1)he's right, you broke the law, and you might just want to move on or 2)he's ignorant and if he's ignorant in his own profession he probably will be more work then he's dealing with.

Whether or not its illegal - depends on your definition of illegal and the activities involved.  There are so many laws and regulatory agency rules which role up in the what's considered law, that prevent most of the more common tactics in wholesaling. 

I've only ever met 1 wholesaler out of dozens I've become acquaintances with that didn't appear to be breaking the law.  Most wholesalers I've met set up shop and start practicing without identifying the key laws and regs relate to their industry, or just go by the normal speeding rule - if everyone is doing it, like driving 5 miles over the speed limit, I won't be pulled over unless I'm too egregious with it. 

Some common mistakes are doing things like doing certain things that require a broker license like advertising property, making fraudulent misrepresentations, practicing law without a license by giving legal advise or writing contracts when you are not a party to a transaction, offering illegal kickbacks, conspiracy, violations of RICO.  There are just so many laws, its easy to cross the line if you don't know what your doing, and even if you do.

Don't avoid realtors, like someone said.  If they are good they will find out who you are anyway and if they resent you for cutting them out, they may try to nail you to wall.  Just work with the ones that know what's going on and will work with you to get the job done.

Post: Fortune Builders "Mastery" Program

Gregory WalterPosted
  • Charlotte, NC
  • Posts 101
  • Votes 40

Scam, unless you want to pay someone large amounts of money for inspiring temporary optimism. 

If you want a free masters program work with a professional licensed buyer's agent real estate broker who will answer all the questions you have and take an interest in you having a good long term outcome.  In most residential real estate transaction the buyers agent does no charge the buyer, and their compensation is built into the deal by the seller and listing agent.  In NC, the your real estate agent also owes you fiduciary duties such as loyalty, among others.

Your a party to the transaction so you can write your own lease.   I'd recommend using a form written by a NC real estate lawyer though.