All Forum Posts by: Nathaniel J Mott

I don't know if Raleigh has good cashflow anymore. I've been looking for a house hack for months and haven't found anything. I could be running the numbers wrong.

@Matthew Ilalio

He does own the property free and clear but I'm no longer sure if he wants to sell me the property, let alone do seller financing. This was the first positive conversation I've had from cold calling so I got overly excited. 

Thank you for your reply I really appreciate it! I'll take that all into consideration in the future.

I’ve been cold calling my driving for dollars list for about a month and just received a call back this morning that sounds promising.

The seller is an absentee landlord living in CT. Property is in NC and he inherited it 10 years ago when his mom died. Has been renting it out ever since.

He seemed interest in selling it so I was going to try to assign the contract to someone else, but it seems like he might like the monthly cashflow. I was going to propose seller financing but not sure how to structure the deal or what kind of purchase and sale contract to use.

Can anyone forward me a link for a contract that would work in NC? What terms should I try to negotiate?

Home details:

The home is off a pretty major road. The houses in the surrounding area are all going for $500k+ but this is the only one on the major road, the rest are in the adjacent neighborhood. I’m not sure of the property condition but I believe it’s habitable. Going to get more info later tonight when he calls back. Zillow estimate is $275k and realtor.com estimate is $520k.

That's a great tip, thanks!

@Ramana Kotte

You're probably not going to find anything on the MLS. Any good opportunity looks like it's going to gave to come from off market.

Asheville is crazy expensive... If your goal is cashflow I don't foresee that working unless you find a unicorn of a deal. Maybe one of the towns like 1hr outside of Asheville could work but I haven't looked into it!

Hi! I'm 27 and living in Raleigh. I've been looking for a house hack for 6 months now and haven't found anything on the MLS that looks like it'll meet my criteria. Even considering a SFH rent by the room strategy to friends, I'm hard pressed to find anything that will cashflow.

If you're anticipating not staying in the triangle long, I would consider long distance real estate investing. Since it sounds like you may be moving around a lot anyway I don't see a reason to limit yourself to investing close to home! 

One caveat, if you have some good contacts here (contractor, realtor, property manager) it may be smart to stick to this area.

I think humidity sensing bath fans may be a good investment. I'd imagine restoring a bathroom wall damaged by steamy showers is probably more expensive than the fan.

I've been looking for a house hack in Raleigh/Durham/Garner for the past 6 months, and running the numbers as if it were purely a rental. I'll echo what everyone else has said: you're probably not going to find anything with positive cashflow on the MLS.

If you have free time you could drive for dollars and contact owners of distressed properties. I've been trying to do this without any luck, but going to keep trying. If you're interested in taking this route feel free to message me with any questions or just to bounce ideas off each other!