All Forum Posts by: Nathan Faucett

I'm sending you a PM

Hi Jayme - my partner (@Matt Hotze) and I actually host Arbitrages in Greensboro so we have a lease that we have created. I'll send you a PM

@Matt Pursley -  I have a contact that I can provide that is located in Charlotte, but is probably familiar with this stuff and can provide a virtual close. I'll PM you.

@Denise Brown-Puryear - I would love hear more about your experience. I have a Single Family Home in the Glenwood neighborhood near downtown Greensboro. I started the property as a long term rental, as I felt like I was in the wrong phase of life to try to manage a short term rental. However, in a few years when my tenants inevitably move, I think I may consider using this property as a short term rental.

Hi @Elyse G.

Local Greensboro investor here. Congrats on your goal to jump into real estate.

Specifically for Greensboro area, I know that small multifamily is HOT. Everyone from all over the country (as you can tell by the forum posts) are looking at Greensboro, NC as a cash flowing market.

You may have an advantage being from Greensboro, NC because you may know of an off market deal, but aside from that, I struggle to think that you would be able to find an MLS, small multifamily deal that needs little work that is less than 200k.

Maybe something you could do is draw a circle on Zillow at approximately 120 miles around Durham, NC and look for properties that fit your criteria (small multifamily, less than 200k).

Then you could maybe find some areas where those criteria are possible and see if you would be interested investing in those areas.

Hope that helps!

Hey all - @Matt Hotze and I are looking to invest in a Short Term Rental in the mountains of NC as well in the near future, with the Boone area being one of our primary focuses. Would love to connect with others that are already investing in that area.

A partner and I are entertain the idea of purchasing our own handwriting machine and creating our own "ballpoint" letters for marketing campaigns.

Do you have any experience doing this? Do you have any recommendations for a machine that has been successful for you? Any reason to stay away from something like this?

Thanks in advance,

Nathan

@Shanice Waller

Hey Shanice!

I don’t have a specific painter recommendation, but I paint all my rentals Agreeable Gray by Sherwin Williams.

I do a semi-gloss finish in the bathrooms and flat finish everywhere else.

Is this a new rental in Greensboro? Did you just acquire it?

Hey all - I invest in Greensboro NC, but would love to come to any future events like these. 

@Michelle Kline - do you do any investing in Greensboro?

@Daniel Johnson - do you invest in Asheville as well? I've got some interest in getting in the short term rental market in the mountains of NC and would love to connect with like minded individuals, especially if they are already close by.

So for anyone that reads this in the future - I've done some more research and what I've found is that my 401k strategy, while it does have some advantages, is not something that I think it is going to work for my family at our income level. 

If we had a higher effective tax rate (maybe like 20% or so), I think that this strategy could work, because you are reducing your taxes dollars so significantly. However, for us, while this strategy would increase our net worth by decreasing our tax dollar paid, it reduces our investing fund in such a way that could be detrimental to our investing strategy.

Additional Drawbacks include:

Less Flexibility - By putting our money into our retirement accounts, aside from the loan that we could take, that money was pretty much locked up

Higher Risk - In this scenario we were relying on our rental income to pay our bills. If one of our renters stop paying or we have some sort of emergency, we are unable to respond to those problems as quickly.

I would be happy to provide more specific dollar amounts and share the excel tool I've built to analyze this data if anyone is interested. Just send me a private message.