All Forum Posts by: Martin Lindsay

Bump :D

@Jay Hinrichs Hearing someone with your level of accomplishments have confidence in my market is a great thing! Thanks again Jay

@Laura Shinkle Thank you for the feedback thats a good perspective to keep in mind!

@Jay Hinrichs Thanks for your feedback and advice Jay! Charlotte's market still has a lot of movement so I feel confident in getting some activity, I just want to make sure I'm around the right resources as someone learning from the ground up, so that's a good point you make about marketing training and tools.

Hello everyone!

I'm a newly licensed agent trying to decide what firm to associate with. I've been leaning towards KW Ballantyne area but have recently discovered eXp Realty and studied their model and am pretty torn.

Both seem like great options however being a hands on learner I feel like having the office environment with warm bodies to engage with will be beneficial for me personally. 

My question is does anyone have any experience with eXp here in Charlotte? I'm curious what the presence is like here and if there is an office space or team atmosphere anywhere in the area. Any feedback would be greatly appreciated!

Old thread but I wanted to reopen this because this is the exact question I've been wanting to ask, except what if the house was purchased with cash instead of a mortgage? 

So if I purchased the property for 30k cash and rehab 20k at and ARV is 100k with an 80% LTV ( same scenario as above) how would I obtain the "cash" from doing a cash out refi and now obtaining a mortgage?

I hope I'm wording it correctly to get my question out there clearly. Thanks for any clarity on this!

Looking forward to being there!! 

@Chris T. Great feedback Chris thanks! You're much more versed on our market than I am so thats good insight. I try to keep two exit strategies in mind when looking at deals. If the margin is good enough for a flip, and there's other rehabbed homes that have sold recently, then great! But I also keep in mind the potential for a BRRR if the appraised ARV can cover my costs and I can pull back out and still cashflow. Thanks for the feedback

I try to be selective about my posts to avoid being redundant so apologies if I missed a previous discussion about this!

Found a property that looked like it had some good potential numbers-wise:

75k Purchase price

~30k Rehab

3/1 with 1600 sq ft with potential conversion to a 4/2

ARV based off of local comps 140k-150k

Solid. 

The only thing that gave me cold feet (as a new investor, many things do) was that when I was looking into the area, I didn't see a lot of recently rehabbed homes. At least not in the neighborhood and immediate surrounding. Most of the comps were newer homes like built in the 1980s and newer, this one apparently 1900. 

The house is in Concord, NC and I live in Charlotte. Concord is a smaller town on the edge of Charlotte that has a good market for growth so I feel confident overall, but most SFH homes I've analyze I've found at least a few other comparables that were renovated, signifying investor activity.

-What parameters do you set when considering your potential area? Meaning do you look at activity within the neighborhood only, the surrounding 1 mile radius, the whole town etc. to verify that the deal will be productive?

 Thanks BP!

Needed this networking boost! I live in Steele Creek and have been eyeing properties in Concord and Gastonia, so you seem like the right guys to get to know! I'll join the GroupMe as well

@Sheila Campbell

How much equity do you have in your home? Have you considered a HELOC? Even if you don't have a ton of equity in your primary, shop around for a local bank/credit union that will do 100% LTV on a HELOC. This is something I'm actively pursuing myself with a local credit union.

Sometimes even just a few thousand dollars can make the difference in snagging a deal, combined with other creative financing strategies.

Good luck!