All Forum Posts by: Jim Kittridge

Welcome to BP @Trevor Melito. BP is an awesome resource. I would definitely recommend getting involved with the local REIA. Metrolina REIA is a good place to start.

0 Votes

Hey Jessica, the vast majority of investors use LLC's. Open an LLC with your Secretary of State and purchase the property in the LLC's name. Keep the accounts separate.

0 Votes

Originally posted by @Nic S.:

@Josue R. I’ve bought 4 doors and have 2 more under contract since June. Buy for cash flow and if you can survive when times are hard you’ll flourish when times are easy.

Congrats Nic. I agree, buy assets that cash flow during tough times and you'll do well.

0 Votes

San Fran is a very different market from mine, but I'm actively buying in Charlotte, NC. Population and employment growth has remained strong and continues to enhance our supply/demand especially outside of the A class segment.

I'm underwriting everything with flat line rent growth and a large increase in vacancy. Pay attention to your break-even occupancy and make sure your rents are not top of market in case it softens.

Currently, I'm UC to purchase a total of 30+ units spread out across SFR & duplexes in my market.

0 Votes

Congrats on the deal. The black against the brick was a great choice. Finding good contractors and subs is often the hardest part. You'll find the right crew(s) as you do more deals.

0 Votes

If you qualify as a full time, active investor, you can apply any losses in your RE business to other sources of income. To qualify, you need to spend the majority of your time on RE and a minimum of 750 hours per year.

1 Vote

I'm in Huntersville and would also be interested in meeting up. As others have said, 1% deals are difficult to find on the market near LKN unless you do the short term rental route.

1 Vote

Congrats on the first deal Liz. Keep going!

2 Votes

Originally posted by @Bola A.:

@Desmond Dunn Thank you Desmond. I am actually interested in both areas you mentioned, areas for cashflow will probably be in C neighborhood and appreciation will be in A neighborhood if I am correct. Please advise.

The Charlotte metro is a great market for appreciation and cash flow.

1 Vote

There are a lot of options but it depends on what level of involvement you want, your risk tolerance, and your goals.

Below are a few options to research:

BRRRR one property at a time - High involvement, higher risk, higher returns
Buy 4-5 Turn Key properties - Moderate involvement, moderate risk, moderate returns
Invest in a fund - Low involvement, moderate risk, moderate return
Private Lending - Low-Medium involvement, low-medium risk, moderate returns

If any of those attracts you, let us know and we can point you in the right direction.

1 Vote

All Forum Posts by: Jim Kittridge

Jim Kittridge has started 15 posts and replied 260 times.

Post: New to Charlotte, NC

Post: Have a 100k working capital to invest in 1st property to hold.

Post: Who is buying rental properties during covid ?? What state?

Post: Who is buying rental properties during covid ?? What state?

Post: Brrrr project Lancaster

Post: Long term perspective.

Post: 1% rule properties in the Lake Norman, NC area

Post: First Investment! Lots of mistakes made and lessons learned.

Post: Charlotte, Raleigh and Durham

Post: How to invest out of state with 100k