All Forum Posts by: Dave Hurt

Hi @Ross Ellington what is your plan for the property? If you purchased with a VA loan you're required to live in the property as your primary residence correct?

In general, as a rental this would not meet my minimum deal standards because I purchase for cash flow, and after PITI, capex, vacancy, management, and maintenance this property would be in the red based on the numbers you've given.

Hi folks, 

I will be moving to the northern Atlanta area within the year and wanted to get a jump on networking with investors in the area.  Currently I am in Charlotte, NC and have recently been accepted as a franchisee for a large quick service chain in the ATL market.  Currently, I own 2 restaurants with a different brand in Charlotte and Myrtle Beach, and we're building our 3rd in Rock Hill, SC.  My real estate company currently owns rental property in Charlotte, and we are sending several thousand mailers per month in NC and SC, and also I host a monthly Investor Meetup.  

I plan to continue investing and sending mail in Charlotte, because my business partner will stay here to run our operations in NC and SC while I take on the GA business.  Right now we are in the site approval process for several locations (build to suit) in the North Atlanta market (Acworth, Woodstock, Duluth) and I'm trying to pinpoint a strong submarket for small multi-family.  

My plan is to purchase a triplex or quad to house hack, but I don't have to wait until I make the move.  I would be ready to purchase now, if the right deal came up.  This is a big move for us because I will finally be leaving the corporate job AND my wife and I are expecting our first child!!

So, I'd love to get everyone's opinions on where to buy, and also if you're a wholesaler in the area, please feel free to reach out or add me to your list!

Thanks in advance!!!

Hello Folks, 

We are hosting a Hard Money Meetup/Lunch on Monday November 21st at 11:30am at The Brass Tap in South End. David Cruise, a local HML is hosting the event and will be there to answer any and all hard money-related questions that you may have!

If you've been to any of my meetups at The Brass Tap in the past, it will be at the same location.  I will make sure we have some awesome lunch specials for attendees as well!

Cheers,
Dave

Thank you to everyone who came out to the meetup!  Our next one will be on 12/5 at 6:30pm - maybe @Troy Knight won't be in Disney World and he'll make it out!  I'll post a new thread soon.

Cheers,

Dave

@DeVon McCoy happy to provide info - just let me know what exactly you need!

@Terrance Clark let's grab coffee when you get to town - looking forward to it!

@Ryan Battista sorry just saw your post.  Would definitely love to chat strategy.  I'm available any time!

Welcome @Rob Smith.  You've got a great set of goals - best of luck!

Congratulations on your success @John Horner and thank you for sharing!

@Daniel Ramirez it has worked fairly well.  Because Charlotte is such a hot market, there are fewer motivated sellers...most folks have looked at Zillow and are dead set on retail...but it's a numbers game - gotta kiss a lot of frogs!  Basically I target absentee high equity owners and mail on a 6 month campaign - I hit the same addresses once a month for at least six months.  I don't send a massive amount of mail, just 2,000 letters a month right now to my target zip code.  Our ideal model is to acquire all cash, renovate, and then refinance into long-term financing.

@David Cowan you're absolutely right.  Yesterday I was driving through my neighborhood thinking "Now if only we could convince the politicians of the same thing..."