All Forum Posts by: Mark Kennedy

Good morning @Gabriel Pais. If all you're doing is forming an LLC with no other legal advice needed, you can just go to the NC Secretary of State website and form it yourself and save some money on an attorney.

That’s great @Shiloh Lundahl!  Congrats on moving from linear growth to compound growth.  That’s currently what I’m trying to do and have a few irons in the fire to do so. 

I am in talks with a MHP owner which has 14 MHs. They are all park owned and on 3 septics and 1 well (which I’m not crazy about).  He claims he’s never had a sewer or water issue due to preventative maintenance but if I get it under contract I’d certainly look into it during the DD period.  I’m wanting to try to transition the 14 MHs to tenant owned and just collect lot rent instead of dealing with maintenance issues on 14 MHs from the 1980s.  Are your 18 units park owned or tenant owned?  And what is your goal with it?  

Thank you Brian.  Stay safe! 

Hey, @Michael Jackman

It depends on your goals and what you’re looking for.  I’ll keep this as general as possible, but 27105 is typically a run down area with the most crime and lower income areas.  Some people choose to invest in those locations, so that call will be up to you.  You can certainly buy that area for cheap and rent out, but I would expect capex to be higher than a different area and a more expensive home.  27103 is Winston Salem proper and has some areas that are descent.  You’ll be paying 1.3% total in taxes though since it’s in the city limits. 

Hello Tony,

I am right there with you. We live in Clemmons just outside of Winston Salem. 

I am a Christian as well - a real estate investor - and a husband and father - we have 3 precious girls (10,8,6). 

If you have any questions about the area please feel free to reach out to me. Friends of ours are fostering to adopt that go to our church and there are a few families who have already or are in the process of fostering to adopt. 

After seeing all your criteria match where we live, and my walk of life, I thought I would at least reach out and respond. 

Let me know if I can help or answer any questions.  

I echo Tony Green.  Give Brian Elam a call with Innovative Closing Solutions in Winston Salem.  

Honestly it depends on the location. But typically around $750-850 depending on location and quality of the unit. If it's in a bad part of town it may be as low as $600. Check around the apartment via Zillow and see what other like-kind properties are renting. 

WS is lower than CLT and Raleigh because there are not as many high paying corporations like large Banks/Financials (ex. BOA, Ally Financial, etc) like CLT and IT (ex. IBM, Cisco) and Biotech like Raleigh (ex. Glaxo Smith Klein, Quintiles, etc). 

Honestly it depends on the location. But typically around $750-850 depending on location and quality of the unit. If it's in a bad part of town it may be as low as $600. Check around the apartment via Zillow and see what other like-kind properties are renting. 

WS is lower than CLT and Raleigh because there are not as many high paying corporations like large Banks/Financials (ex. BOA, Ally, etc) like CLT and IT (ex. IBM, Cisco) and Biotech like Raleigh (ex. Glaxo Smith Klein, Quintiles, etc). 

@Account Closed that does seem high. Congrats on your first investment. I too am in Winston Salem. I always forget if we can recommend certain companies on here. I have no affiliation with them I've only used them both for my personal home and a couple investment properties - but have Styron give you an estimate. I've liked dealing with them in the past. 

Hey Marla, 

I live in the Winston Salem area and am an investor here.  I am currently looking at an all brick duplex that your oldest child could live in 1 side and rent out the other side.  It's in a very nice area 5 minutes from WFU.  I may purchase it, but if not want to know if you would be interested in the information.