All Forum Posts by: Justin Hash

Team - I have a property in Charlotte with a below average Property Manager. 

Does anyone have a good property manager recommendation? Property is currently on Airbnb and I would ideally would like a manager that could help find longterm or lease option tenancy.

Thanks!

Looking to purchase a winery/vineyard.

Currently putting a valuation model together but would appreciate any guides, best practices, or sources of knowledge on how to think through the purchase of such an asset. 

Literally anything and everything is appreciated. 

Thanks!

Got it. Thank you Basit!

Thanks for this @Lucas Miles!

Definitely will give them a look. 

Hi Team,

Im a first time investor purchasing a home in Charlotte, NC, and am looking for an accountant who can help me file and organize this, as well as future, real estate investment in a tax efficient way. 

Really looking for a team player, as I am serious about purchasing multiple properties / asset types, and working with one person/team for the long-term. 
Thanks,

Justin Hash

Hi Team,

Im a first time investor purchasing a home in Charlotte, NC, and am looking for a lawyer who can set up, as well provide the right advice, on the appropriate asset protection (assuming LLCs) for this as well as future homes I'll be purchasing. 

Really looking for a team player, as I am serious about purchasing multiple properties / asset types. 

Thanks,

Justin Hash 

Great. Thank you!

Hi Brandon,

Thanks for this! Rehab is a current estimation. Do you have a recommendation of a calculator I should use? Also, any tips on know what exactly needs to be fixed? (For example, if flooring was maybe carpet should i always assume it automatically needs to be changed?)

Thanks!

Best,

Justin Hash 

Hi Team!

Buying my first investment property in the CLT / Gastonia area. Posted below are the metrics surrounding the property I am interested in. 

Can you all let me know your thoughts? (Think this could be a potentially good investment, and im worried that im missing or nor seeing something). 

Thanks!

----------------------------------------------------------

Property Overview

1. - Location: Gastonia, NC 
2. - Prop Type: SFR (3 Bed, 2 Bath, 1 Floor)
3. -  Purchase Price: 130K
4. - Sq ft: 1,173

Financing / Upfront Costs 

• - Loan Type: Conventional Mortgage @ ~3.1% 
• - Down Payment: 26K (i.e. 20%)
• - Closing Costs: 6K
• Total Upfront Cost Costs: 32K 

• - Budget for Potential Rehab: 15K
• Total Potential Costs: 47K

Monthly Revenue

• - Anticipated Monthly Rent:  ~1,100 (based on rentometer)

• Total Revenue: $1,100

Monthly Expenses

• - Taxes: $100
• - Insurance: $100
• - Mortgage: $347
• - PM Fee: $120

• Total Monthly NOI post Expenses: $443
• Total Monthly NCF Post Expenses: $243 (assumes $200 in capex per month) 

Returns

• - Yr 1 Cap Rate: 2.8% 
• - Yr1 ROI: 7.9%

Final Thoughts

- Not sure if this is a good investment given the returns. But, feel like i could potentially negotiate the purchase price down to a healthy level to make it make sense. 

- Additionally, outside of the financials i am worried that the home is not close to a good school district (in fact, most schools around it are rated 2 or 4 out of 10 in terms of quality.

------------------------

Really appreciate everyone's thoughts, and cant wait to purchase my first home!

@Dustin Dwain Kelm ; @Alexander Szikla ; @Chalie Parker ; @Bryan Flores ; @Forrest Faulconer ; @Drew Hanna ; @Chinyere Orie

Thanks so much for all of your responses!

So far in general it seems that i need to depend on the real estate agent for helping to figure out costs before bringing in a GC (especially because the CLT market is so hot) 

If you have any tips on what i should specifcally ask my real estate agent, or general budget for thinking about repair costs (similar to @Dustin Dwain Kelm's response) that would be great.

Again thanks so much for the help so far!