All Forum Posts by: Paul Pessina

Thanks Chucks! I appreciate the help. It looks like Lob.com is focused on print & mail, which is great. Do you know of any software that will allow me to send pre-populated LOIs/offer letters via email as well? It didn't look like Podio or Lob.com had that capability.

Thanks for the help!

Hello BP community! Quick question about a recent BP podcast - show on June 14, 2018. The gentleman they are interviewing mentions a software called Potio, I believe. He mentions using it to email and/or mail pre-populated letters of intent to prospective leads. These forms can be filled out through the software and then auto mailed/emailed.

I haven't been able to locate that software under that name. Maybe I am spelling it incorrectly or didn't hear the name correctly. If anyone is familiar with the software and can point me in the right direction it would be much appreciated!

@Lisa Hoover - Thanks Lisa! Any help is greatly appreciated. Feel free to PM me if that is easier. I am building over in West Charlotte off of Wilkinson Blvd. Thanks for the help!

@Sunkul Soni - Thanks for the advice. I will definitely check out my local REIA and see if there are any builders/GCs that might be able to help. I am building over in West Charlotte off of Wilkinson Blvd. Thanks again.

Good morning BP! I am looking to purchase a small lot (0.14 acres) in the Charlotte, NC area to build a small rental house (3/2, 1,000 sq ft). I am looking to build on the lower end ie. vinyl siding, carpet, etc), and I am trying to find a reliable builder/GC that can help me. My goal is to be in the $50-$60 psf range for the completed house.

If anyone knows any good GCs/builders in the Charlotte, NC area that might work, any help would be greatly appreciated. Also, if anyone has any other creative strategies or any other ways to look at this from another perspective, I would love the input.

As always, the advice is much appreciated.

Thanks, Paul

Good evening BP....I'm local to the Charlotte, NC area and was looking at Hickory, NC as a new opportunity for buy and hold rental properties. I have spoke with several PMs to get an idea on rental rates for different neighborhoods. Any thoughts on Hickory, NC for buy ad hold investing, or any specific areas where you have had good success? Just trying to get familiar with the city and narrow my search.

Thanks, Paul

@Darren Eady - Thanks Darren. I appreciate the contact. I will reach out and see what I come up with. Thanks for the help!

@Account Closed - Thanks Bryan. I will reach out and we can discuss further. Thanks for the help!

@Percy N. - I have spoke with several Banks and the biggest issue I have run into is that several of them have a minimum loan amount (usually $50K), and they are usually looking for an LTV of 75%, which is not a big issue unless the appraised value comes in below $65k-$70K. I think they are realistically worth about $60K each. So I am in a situation where I spend the money on the application and appraisal, and they decide not to originate the loan because it doesn't meet the minimum loan requirement.

I would be looking to pay 0.5%-1.0% in origination fees with a rate of 4.5%-5.5% with a 30yr am. I don't mind if there is a balloon (3-5yrs). Thanks!

@Darren Eady - Yes, the properties are owned free and clear and I would be looking to create a note  on each property in order to pull cash out of them. Both properties are fairly recent purchases; purchased about 90 days ago at the time of this post. Thanks!