All Forum Posts by: Shane Lafleur

Hey @Sam Chicquen! Im not in commercial but I am a local in the Raleigh Market but also invest in the Myrtle Markets as well so happy to share any insights I may have that can benefit you on your journey!

Hey @Myrtle Mike Thompson!

Yes I used Silverton Mortgage, locally. They had a good knowledge of condotels in the area and feedback on complexes which where helpful to me as well. I'd use them again. Thanks!

Investment Info:

Condo other investment in North Myrtle Beach.

Purchase price: $311,000
Cash invested: $70,000
Sale price: $455,000

3 Bedrooms | 2.5 Bathrooms | 1150 sqft
2nd Floor | Lowrise Condominium | Beachside with Oceanviews throughout
Single level | Primary Ensuite | 2nd Bedroom with private water closet | Full Main bathroom
Private Laundry
Central Air Heat Pump
Fully Furnished (Outdated)
Private Balcony off living room (screened in) and Primary ensuite
Purchased as is - Outdated and needed Renovated
Tilghman Beach and Racquet Club Association

What made you interested in investing in this type of deal?

We wanted a place we visited often so we understood the market and the attraction. Also so we could utilize the 10% down second home loan. We settled on North Myrtle Beach as our market first then started looking at what we could afford and how to maximize that. We could afford up to a 3 maybe 4 bedroom condo on the water, mostly not turnkey or outdated. We knew we could add our own flair and style to the unit to really bring in traffic for the type of unit in that market.

How did you find this deal and how did you negotiate it?

MLS. We had a real estate agent show us properties in our price range with a preapproval letter.

How did you finance this deal?

Second Home Loan

How did you add value to the deal?

We renovated the property and provided new furnishings.
We fully renovated the kitchen, floors, and bathrooms.
New interior paint throughout.
Self managed the short term rental side of the operations.

What was the outcome?

We fully furnished the property after renovations and started renting the unit out starting in April. We got bookings instantly and self managed the property through the busy summer season. We ended up changing cleaners throughout. Our handyman was super helpful with issues and repairs between bookings, sometimes same day turnovers.

Lessons learned? Challenges?

Great learning experience as my wife and I learned the renovation process, how contractors work, timelines and materials processes. Learned the self management of STR, with applications, the management of cleaners and handyman.
Learned that having resources and multiple connections for roles in the process are crucial in case someone cannot perform. Hospitality business is simple but stressful at the same time. Also, financially we learned that we may have put too much money in the deal.

Hey Fellow Investors! -- July Meetup Announcement --

Pints & Properties - Raleigh Meetup, if you don't know already, is an open networking event so we can build the community and connection of like minded people! We will bring a relaxed vibe while hopefully bringing some extra value with short intro guest speakers lined up throughout the year, meeting up the LAST Thursday of every Month.

This Month, please join @Mitch Miller and I at Carolina Ale House (Downtown) Thursday (July 27th) @ 6:30PM to learn from Kayleigh Bain with Breezee Digital on HOW TO USE SOCIAL MEDIA TO ATTRACT MORE BUSINESS. This months event is perfect for those unsure of social media, what it can provide for your business and how to build their brand.

Kayleigh started Breezee Digital to help get the word out for many small businesses while finding outreach opportunities for the community to support local businesses. Breezee Digital solely focuses on Social Media Marketing and helping with the management and strategy of creating a marketing plan that best suits each business individually. She understands small business operations and that of which the pain points of running every single department, where to allocate resources and finding the time to generate new business. From learning marketing in trials by fire while growing a passion for this new skill; Kayleigh knew she was meant to pursue supporting small businesses by developing their marketing departments. Kayleigh will show you the ways of how to use social media to your benefit and how to work with it rather than against it.


As always, there is no cost to attend and no obligation to purchase anything. This is open to the public; Just show up and talk real estate regardless of experience level and hopefully learn something new from your fellow neighbor. We look forward to meeting you and hopefully seeing similar faces.

#apexnc #carync #raleighnc #durhamnc #MorrisvilleNC #wakeforestnc #chapelhillnc #claytonnc #garnernc #fuquayvarinanc #knightdalenc #zebulonnc #smithfieldnc #sanfordnc #hollyspringsnc #angiernc #wendellnc #SilerCityNC #pittsboronc #lillingtonnc #fayettevillenc #burlingtonnc #greensboronc #trianglenc #rtpnc #rdu #researchtrianglepark

@Artem Lopatchenko @Daniel Giacomazzi @Kelsey Maren @Barbara E.@Kyle Roberts @Austen Carroll

@Will Parks @Pat Lulewicz @Sharla P.@Mike Kehoe @Chris London @Tim McGarvey
@Shelby Osborne @Charles Robinson@Marco Aceves @Ryan Casady @Ryan Johnston @Joe Sheryak @Patrick Knapp@Catie Sherry@Joseph Bafia @Katherine Serrell @Abilasha Elangovan @Mandy Althoff Moultrie @Steven Wilk @Ashlyn Vincent @Garrett White 

@Matthew Sanders @Jose Miguel rodriguez @Joshua Mumford @Zachary Karczewski @Scott DeSouza

@JMar Williams @Walker Rouse

Hey Fellow Investors! -- June Meetup Announcement --

Pints & Properties - Raleigh Meetup, if you don't know already, is an open networking event so we can build the community and connection of like minded people! We will bring a relaxed vibe while hopefully bringing some extra value with short intro guest speakers lined up throughout the year, meeting up the LAST Thursday of every Month.

This Month, please join your Host for the evening Mitch Miller at Carolina Ale House (Downtown) Thursday (June 29th) @ 6:30PM to learn from Austin Kinchen shares his inspiring journey of going from zero to one million dollars in real estate investment in less than six months.

If you're interested in starting your own real estate investing venture but don't know where to begin, lack funds, or struggle with finding suitable properties, this event is for you. 

Austin Kinchen, who always aspired for more than a corporate job, stumbled upon his first accidental rental property, which ignited his passion for real estate. Through his presentation, he will discuss the turning point that motivated him to take real estate seriously, how he identified properties that aligned with his goals, his chosen investment locations, and the strategies he employed to rapidly scale his portfolio. Don't miss this opportunity to gain valuable insights from Austin's remarkable success story.

As always, there is no cost to attend and no obligation to purchase anything. This is open to the public; Just show up and talk real estate regardless of experience level and hopefully learn something new from your fellow neighbor. We look forward to meeting you and hopefully seeing similar faces.

#apexnc #carync #raleighnc #durhamnc #MorrisvilleNC #wakeforestnc #chapelhillnc #claytonnc #garnernc #fuquayvarinanc #knightdalenc #zebulonnc #smithfieldnc #sanfordnc #hollyspringsnc #angiernc #wendellnc #SilerCityNC #pittsboronc #lillingtonnc #fayettevillenc #burlingtonnc #greensboronc #trianglenc #rtpnc #rdu #researchtrianglepark

@Sean Brunson hit me up as well with any questions. I had a 3BR/3Ba condo in the Tilghman Beach and Racquet Club in North Myrtle Beach. We actually just exited the property last month after holding for over a year.

When looking, definitely know what condos are Condotels and no-condotels. Also look at the HOA financials and determine if they are maintaining the property appropriately, which leads to the statement of ask for any special assessments in the past and if some are expected in the future.

I still love the area and we are still looking for our next opportunity in that market.

Venture Stack

https://venturestackdeals.com/...

Hey Sammy! You sound like a rockstar man! I host a local meetup in downtown Raleigh called Pints & Properties. We have them every month on the Last Thursday of the Month from 630-9PM at Carolina Ale House. I always post the meetup on the forums here as well. I typically have a speaker come talk for 30-45 Minutes on a specific topic to learn and networking after to discuss strategies and meet those in the industry investing in the market as well. Would be awesome to see your face there!

Welcome Joe!

Also there are some awesome free events/Meetups here in Raleigh such as the Bigger Pockets Meetup at Raleigh Beer Garden in Downtown Raleigh (second Wednesday of the Month). Next meetup is this coming week, Wednesday (6/14) at 630PM.

Also I host the Pints & Properties Meetup at the Carolina Ale House on the Last Thursday of the Month. So next meetup is Thursday (6/29) at 630 PM with a Presentation on a topic for 30ish min. 

@Joe Mabry Look forward in meeting you and hearing about your goals!