All Forum Posts by: Nick Thomas

I'm a novice investor in real estate and am looking at a multi-family property in Greenville, NC. I am needing some help to analyze a "deal." I am looking at this duplex for $12,500 (Will offer less for sure). All units are currently vacant and in need of rehab. The area is not in the nicest area of town, but it certainly is not a warzone so to speak (None in this city at all). The assigned school is one of the rougher ones, but not the roughest, and the district will soon be switching to open enrollment anyhow. Each unit is 2 bdr and 1 bath which I believe could easily rent for $500 per month. The ARV is 45,000. I am considering buying this for myself to rent, but thinking I might try to wholesale since I am moving to a different state in the upcoming months.

Any thoughts on what to look for before making an offer? What should I look at that would skyrocket rehab price? I am not sure the margin would be high enough for someone to bother flipping this property, there would be profit but only about 10-20k I imagine. I think it'd be a great buy and hold with decent cashflow though.

Thanks for your input,

Nick Thomas

The county site doesn't give you the owner address?  Most do.  If so just send them mail. There is a great guide for it here on BP.

The first property I buy I will be looking to house hack.  I was also worried though about the area I'd have to buy in due to my funds.  (This will be in NOVA so it can be rough in cheaper areas) I am 25 and already sick of renting property and fattening the pockets of others while emptying mine. 

Anyone else from the Greenville NC area?  Or anyone with interest in investing there? I'm also happy to learn from experienced wholesalers or investors from other areas of you're willing to let me work for knowledge

@Michael Ruley I do think it's definitely a market that fits many investors. In fact it's the market I want to enter once I get the capital to do so. It'd make it easier though, which in my opinion would over saturate that niche and make it harder for everyone to find deals. Sometimes making things easier in the long run makes things harder.

@Nathan Miller I believe he is referring to a database for investors looking to BUY new property of that type. I am unaware of any such site.

Hey @Samantha Cunha, it is the central appraisal distrist. Basically let you find out how long a property has been owned, if it has a loan, and if the owner lives there. If they don't live there it'll tell you their address so you can mail them.

Podcast 173 helps out a lot with this question. I'd highly suggest listening to it.

Yes I found some descriptions over the top, but also think some things might be of use. 

I'm trying to get into the birdogging/wholesaling side of real estate to start off. I decided I need to be better at knowing where people want to invest in my area. I of course first started by creepily driving around neighborhoods very slowly, but now I've found the website neightborhoodscout.com. Has anyone used this site? It gives lots of useful information, but I'm just wondering how accurate it is.