All Forum Posts by: Henri Meli

This is a great thread. Lots of information I have been trying to collect myself seems to already exist. BP is just great. Thanks again.

Welcome aboard @Jordan Jett. We do have our meetup in Cary this coming Thursday. Of course you are all welcome to attend. Please see the info in the Events and Happenings forum. Come and network with fellow local BP Investors.

@FLEXMAN JOHNSON At this point, I'm not looking for partners, but maybe in the future. And yes, I would like to get to the 60 units level at some point in the future.

@Michael Wolffs If the owning entity is incorporated in NC, then I can go to the department of the secretary of state for NC and find who the officers are and additional contact information about the LLC. Which is part of what I did this week-end, for some of the homes that were of interest. I was also able to find out how to programmatically access some of the information. Now, I just need to make the time in the next couple of weeks to automate some of this process.

I live in NC. I'm in the triangle area (Raleigh, Durham, Chapel Hill). People invest out of state all the time. There are many California entities (LLCs) who purchase real estate here in NC. 

Prior to purchasing an investment, you always need to do your due diligence. It is best to find a good property management company and have them manage your property(ies) in this area. You shouldn't try managing a property from California. If you are planning to buy in NC, I would suggest you come for a visit a few times to make sure you are not purchasing blindly. 

Congrats. @Emmy K.. I hope to get to this point sometimes this year.

Fantastic responses. Thanks a lot @Brian Adams. Very inspiring and lots of good information in your response. I will definitely follow your lead here and get a few things drafted in the next few days. 

@Hattie Dizmond I 'm  a techie. I wish someone could tell me how to access the county data programmatically. I would simply write a program to do this automatically. That's what I do for my 9-6 jobs. I'm sure sites like Zillow, Trulia have figures this out somehow. Or maybe they just pull the data and store it in a local database and access it ... interesting. Something I need to start investigating.

I've just started investigating investment opportunities in Multi Family/Multi units properties. Based on the funds I have available, I was thinking somewhere between 5 to about 25 units is what I can afford. I have had a hard time finding any good listings in my area (Triangle Area in North Carolina). Sites like realtor or zillow or even trulia don't have many good choices. And the ones that I got, by the time I locate them, they are already under contract. 

So, I have started putting the list together on my own by going to the Apartments/Rental books (in prints) and locate apartments properties, then go the county websites and locate the owners (mostly LLCs), then go to other websites to locate people running the LLC (if needed and if possible)... etc. This seems a little cumbersome. Anyone has any better way to do this?

My goal is to send owners a letter to ask them if they are willing to sell. I have never sent such a letter. If anyone has ever done it, can you share such letter with me, so I get an idea what to write and how to write it?

Thanks. 

Great topic. I'm looking to purchase my first multi family as well. And I have been asking myself the same question(s).

From a NCarolanian ... seems to good to be true. What's the neighborhood like? B? C? D?

Great perspectives @David W. and @David Roberts. However, I disagree with David W. that any second spend and not working on company time is "stealing" from the company. Technically, most people are supposed to be paid for 40 hours. But the reality is that I don't know many people who actually work less than 40 hours. Most people I know (including myself) do work more than that and even outside of company time to complete projects, that have been underestimated. I have been called upon many times to deal with companies issues outside of the work hours. And I have done so, without asking for extra compensation.

I do not use any company resources, not even the browsers as those are restricted and even email cannot be accessed. But, for the phone number and emails I have shared, I don't control at what time people will call me, text me or email me. Yes, I use voice mails to take calls and call them back. But not all calls can be made after company business hours. I start work @ 9, because I can make many calls between 8am and 9am, before I get to my real job.