All Forum Posts by: Harry Marsh

Where is George Gibbs when you need him?

Feel free to email me
but....they figure out who has money in Charlotte, and work an agreement with them
Or they create a land trust with a few owners....
Every deal is a bit different.   A 400k development is entirely different than a 4mil development

@Tracy Cummins I don't know of a lawyer over the age of 27 on the bar referral service
This request might be the most difficult request someone could have....

Chris Levarek is probably correct:  doesn't really matter the location of your securities attorney
It's federal law, so you could likely use one, anywhere

But:  expensive regardless.   This won't be easy/cheap.   I've even had clients fly different attorneys 'in' to Charlotte on occasion (all of them gave up after 6-8 months and figure out a different way to do things)

I don't know of any Charlotte attorney.   I get this question reasonably often and have been down the rabbit hole a few times:  no more

I've had 3 or 4 clients get $20k or so into legal fees, before giving up on it.   Long story short:  it's so much liability that only the large law firms from Raleigh will agree to be involved.   And it's $10k just to talk to them.

I'd suggest finding a different exit strategy

I lurk. I have a quick 2 page manual on how to create a LLC. And there are sample operating agreements on my website

I think there's too much competition.   There are people that run 3-4 crews and buy things that are arguably overpriced, because they can renovate cheaper than anyone

If you're a 'single' person that will be charged twice as much for labor:  you're going to be buying at such an elevated price that you'll be lucky to break even
Of course, there is always the odd duck that you might get lucky with.    What's mildly entertaining/amusing is that you often don't get to see inside the house in a tax foreclosure.  It's sometimes a lottery ticket.
There's also the issue of title insurance.  IT's hard to get title insurance on a tax foreclosure, which means it can be hard to get title insurance when you resell it.   I wouldn't recommend tax foreclosures as your first purchase/flip.

I'd probably encourage you to contact some wholesalers and find a better deal, that route

I do 300'ish closings a month in the area

From the little you've told us: I'd say 'run away'
Tax foreclosures are competitive in Charlotte.   'big' guys lose money on them (on occasion).  They often sell at 90% of value and people lose money if property condition is poor
Is it possible to make money?  Sure.   Mecklenburg County: less likely to make money.   There are 50 savvy investors in Charlotte, every day...looking at these
Cabarrus/Union County?  There might only be 10 looking at the property:  you have a far better chance of 'winning'

You probably need an experience real estate agent like Curtis Waters to figure things out (evaluate your world and what to do).  It takes many years to get 'good' at these

We do 300 or so closings a month:   a lot of the investor work in the area

I think that part of this is a severely over-booked legal system.  No eviction hearings have happened for 6? months.  They're presently not holding anything but emergency hearings until July 31.
Even when they start hearing them, there's going to be a HEAVY back-log to work through.

I think this was their way of trying to have the private sector work through some of the back-log for them (while gaining some political points).  At least...political points if you aren't a landlord