All Forum Posts by: Jeff Williams

Asking from a General Contractor stand point…..is there a premium to be made selling brand new build Duplexes, in town limits of Johnston County NC? Specifically 3 bed, 2 bath, side by side units, two story with the town house look, with a single car garage. Given that there are recent townhomes that have been built and sold in the area, between 240K-265K, I am wondering if I were to build a duplex, if it should sell for 500,000 or more? (And BTW, half those townhomes have sold to investors.) I know that's not a real estate investment strategy, but I have been building to sell, since the market has been so good and I have available lots that will allow me to build a duplex. I have been building SFH, but since I have some lots that allow Duplexes, I figure that is the highest and best use of the property. And if I were to personally go out shopping for NEW duplexes, there is none to be found in my area. So I might have a niche. Want your feedback. (FYI, I am not building to hold these due to needing to raise more capital, and the market is so good right now)

@Andrew Menkes

I am a GC that will work in Smithfield

@Luke Jones

Ball and Minor has offices in Garner and Fuquay

David Ball has a ton of real estate property.

I ran into a vacant mobile home lot, with a current conventional septic system on it. Per county that property is in, in NC, no more mobile homes are allowed. It is zoned residential. I am afraid that if I try to obtain permit to build something very small (lot is very narrow with set back requirements), the county will advise that septic needs to be re-done (installed 1979). I was possibly thinking about re-zoning for storage space, but the location it is in, I might have trouble from local neighborhoods. So, I would hate to commit to purchase, if I might not be able to build on lot. But it is a killer price, which also leads me to believe the reason why it is SO cheap is because it is not buildable, and past owners were unsuccessful getting re-zoned. Question is, since it is residential, without needing a permit to build, and it already has a septic system that county stated it was not abandoned, can I make the property RV rental?

(ps. Lot is not for sale, it was one I found while driving for dollars, and hunted down the land owner, whom is close to 100 years old. Also, county could not advise of septic condition, without permit, other than that it was not abandoned.)

@John Teachout

Yes, it is commuting distance. But I’m not sure I need to focus on distance to Raleigh. Only because in this area of NC, there seems to be growth, jobs, colleges, military, etc. so whether you are 1 hour, any direction of Raleigh, there is something that is drawing the residents.

So, I am looking at purchasing for a buy and hold on the outskirts of RALEIGH, NC. Which most may know is rapidly growing. I am looking far enough out to be affordable for me at this moment because the closer you get to RALEIGH, the higher the purchase price. When I look on Zillow to see the current rents in certain areas, I have found a couple towns, that literally have no houses listed for rent. I have talked with some acquaintances and they say all their units they have are always 100% full. Common sense tells me, if there are deals in these towns, I need to buy them up, and I can probably set a better rent rate since there is not many homes available to rent??? Am I right?

I can move my cursor (on Zillow) to the next town, 10 to even 20 minutes away, and there are several houses available for rent. Thoughts? This might be the market that I need to focus on?

Great Comments from Scott Trench. And that is why he is the CEO of BP!

@Jaysen Medhurst

Property owner owns window units. I agree with classing it up. Just curious what the appraisal difference would be?

Any one have input one experience with the appraisal value of residence with window units vs. HVAC? My wife and I are in process of purchasing a Quadplex built in 1940s and currently has baseboard electric heat, and window a/c units. When it gets appraised, will it be much lower because of this? Will in benefit to change everything over to central HVAC? I am pretty sure I have heard on a podcast that as long as it is renting out, don't worry about changing. This might be true, but just wondering how the appraisal might look? 

Thanks @Salvatore Lentini