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All Forum Posts by: Tony Pellettieri

Tony Pellettieri has started 19 posts and replied 142 times.

Post: Looking into 1st Flip - Middle Tennessee

Tony Pellettieri
Posted
  • Investor
  • NC / SC
  • Posts 148
  • Votes 77

Hey Anthony,

If you haven’t already, I would recommend reading/listening to a few books on the topic of flipping. They both lay out and explain the process.

1: The Book on Flipping Houses - J Scott

2: FLIP - Rick Villani

Well worth the time and very informational.

Good Luck!

Post: What steps would you follow to do a Rehab on a rental property you have just purchase

Tony Pellettieri
Posted
  • Investor
  • NC / SC
  • Posts 148
  • Votes 77

I would recommend reading/listening to a few books on the topic. They lay out and explain the process.

1: The Book on Flipping Houses - J Scott

2: FLIP - Rick Villani

3: BRRRR - David M Green

4: The Book on Estimating Rehab Costs

Well worth the time and very informational.

Good Luck!

Post: New investor needing some help buying first property.

Tony Pellettieri
Posted
  • Investor
  • NC / SC
  • Posts 148
  • Votes 77

I would recommend reading/listening to two books on the topic of flipping. They both lay out and explain the process.

1: The Book on Flipping Houses - J Scott

2: FLIP - Rick Villani

Well worth the time and very informational.

Good Luck!

Post: Fix and Flip - 2 Properties - Utilizing Seller Financing

Tony Pellettieri
Posted
  • Investor
  • NC / SC
  • Posts 148
  • Votes 77
Quote from @Tom S.:

@Tony Pellettieri  Welcome to BP!

Speak to a real estate attorney that is well versed in seller financing contracts for your state.  In general, with a proper deal you will take ownership / title at closing, and the seller will have a lien against the property, same as a bank would.  So the selling is not different than a standard sale.  The title company will calculate what's owned to the seller and pay off the lien when you go to sell, again, just like a bank mortgage would be paid off in a normal sale.

I would recommend two contracts for the two properties.  For example, in case a title issue came up with one, you could still purchase and close on the other.

I would also recommend a longer time than 4 months.  Lot of issues can come up.  If you're saying 4 months and don't have the balloon payment for whatever reason, you could be foreclosed on. 

Good luck! 


 Thanks for the response and advice! Learning as we go...

Post: Getting started in Real Estate by Flipping Houses

Tony Pellettieri
Posted
  • Investor
  • NC / SC
  • Posts 148
  • Votes 77
Quote from @Bruce Woodruff:

Good for you! But flipping is a tough way to get started, even for a Contr. ask me how I know :-)


No doubt! Though to say the least...

Post: Getting started in Real Estate by Flipping Houses

Tony Pellettieri
Posted
  • Investor
  • NC / SC
  • Posts 148
  • Votes 77
Quote from @John Fossetti:

Great Job, the hardest part is getting started!  


 Agreed! Only took me 4 short years... But acquiring the vast amount of knowledge I did in that time was well worth the wait. 

Post: Working toward improving my knowledge of Real Estate

Tony Pellettieri
Posted
  • Investor
  • NC / SC
  • Posts 148
  • Votes 77

Hey Tim, my name is Tony and I just started investing in the Charlotte area. The way I acquired much of my knowledge was by listening to books on audible. Bigger Pockets has quite a few I could recommend and many more depending on what you're interested in focusing on. If you have any questions about the metrics of your property, I'd be happy to take a look and see how you might be able to change your "no cash flow" situation with either your current property or an additional one. Best of luck!

Post: New Member Introduction

Tony Pellettieri
Posted
  • Investor
  • NC / SC
  • Posts 148
  • Votes 77

Hey Geoff, my name is Tony and I just started investing in the Charlotte Area. I'm near Fort Mill and am currently investing in Fix & Flips in the Chester/Lancaster Areas. Let me know if you have any area specific questions. I've put a good deal of time into research of the surrounding cities of Charlotte and would be happy to help how ever I can.

Post: Looking for Investment Opportunity - Buy and Hold

Tony Pellettieri
Posted
  • Investor
  • NC / SC
  • Posts 148
  • Votes 77

Hi Rohan, I'm a new investor in the Charlotte area. If you're looking for a good area to invest in for value appreciate, look no further. Charlotte is experiencing a tremendous amount of growth, including all of the surrounding cities. I would look at cities that are currently undervalued and are being developed such as Rock Hill, Chester, Lancaster, Gastonia, just to name a few. Property values are soaring in these areas currently. I also hear Raleigh is booming. When getting started, staying close to home, especially when you live in an area that experiencing high growth, is not always a bad idea.

Post: New to BRRRR

Tony Pellettieri
Posted
  • Investor
  • NC / SC
  • Posts 148
  • Votes 77

Hey Lennell, my name is Tony. I'm located right outside Charlotte near Fort Mill. You happen to be in an excellent location to get started investing using the BRRRR method. Charlotte is experiencing so much growth, including the surrounding areas like Rock Hill, Lancaster, Concord, Chester, and many other cities within an hour proximity. There are many opportunities to purchase properties that are distressed or in need of improvement at a reasonable price and increase their value tremendously and also rent them out if you choose to hold/rent them with all the people moving to the area. I would suggest picking a specific area and studying it. Depending on what kind of capital you have to work with, and what finance strategies you're utilizing, investing outside of Charlotte can be an easier/more cost effective way to get started. If you have any questions feel free to holler at me anytime. Best of Luck!

Tony