All Forum Posts by: Luis Suarez

Hello BP World.

I have a rental property in Raleigh, NC that I need to unload.

Here are a few extra details: 

ARV: $250,000

Repairs Needed: $15,000

Price: $230,000

-New wood grain ceramic tile

-New Carpet

-New interior paint

-Popcorn ceiling removed, and painted

Tenant is month to month, and is just waiting for us to sell the house so that they can move on. 

I've already spent over $10,000 on repairs and rehab but it still needs another $15,000 to look like new.  My wife and I would like to focus our attention on a new company we started.

I'm only putting this out here to see if this generates any attention.  If there are no interested buyers at this price point that are willing to take over the project, I will finish the rehab myself and attempt to list it for full price in March.  

I'm open to suggestions!  

Welcome to BP! It sounds like you're off to a great start.  

I wholeheartedly agree with @Anton Watt. Meeting other like minded real estate investors is just as important. When you go to these REI meetings look for people that have been in the industry for a while, and simply introduce yourself. It also helps to get in touch with other wholesalers locally. Most of the time they're willing to share what works, and what doesn't in your area.

 I have no actual proof of this, but I think the reason that sites using a "family/local" approach sometimes fail because motivated sellers don't want people to know their financial situation.  They might feel uncomfortable selling their house to a local/family owned business.  

Hello BP! 

Does anyone have any recommendations for contractors that could help with flooring, and painting? Its' for small rental property in Raeford (near Fayetteville). 

Once the floor is re-done and painting has been finished i'm also looking to build a similar home on the adjacent lot.  Has anyone had any good experiences with builders in the area? 

Thanks!

My wife and I did that this year! We started in April, and the house is almost done.  I don't know that we would do it again, but I definitely recommend it.  It's a great learning experience.   

My wife and I bought a house with Naca and the entire process took less than 4 months.  No problems what so ever.  We also didn't have to do any of the crazy advocating stuff at the workshops(so im going to do it in this post).  The key is having all your ducks in a row.  If they say that they're going to require these 10 specific documents, don't show up with 8.  

In my personal opinion buying a house a huge responsibility, and if you are not able to follow directions from a company like NACA you might now be ready... It wouldn't hurt to check them out. Just make sure you're using an agent that has experience with them.

@Account Closed I would be more than happy to help.  I'll send you my contact info. 

Welcome! There are plenty of people here that have a wealth of information. I would suggest updating your keywords so that you don't miss the monthly REI meetups. I'm a Realtor from Raleigh, NC. Let me know if there is anything I can do for you, and best of luck!

Will this be available online anywhere? Maybe for a fee?

I would also give my vote to Dauntless Construction.