All Forum Posts by: Ram Ranga

Thank you all for your swift response. 

As Matt Devincenzo suspected, the county website was showing the 1985 Vs the Title that shows 1962. Apparently, they have demolished part of the neighborhood and reconstructed few row houses from ground up in 1985. Guess, I am good to proceed with the closing. Thank you all again - wish me good luck!

Hello All, we have found an ocean side property in SC, and closing the transaction tomorrow as our investment property. However, the real estate attorney just called us and informed that the Title shows the year built as 1962 Vs 1985, as listed in the MLS listing by the seller. This is a false representation by the seller/seller's agent.

I am in dilemma now as whether I should move forward with the sale or back out due to misrepresentation of information. Can RE Investors and experts weigh-in asap, please?  

I am trying to sign-up with Rentredi for my first property management (self) and as I am setting up the Landlord account, it is asking for personal information like address, DOB, SSN etc. I am wondering why Rentredi is sourcing personal information from the Landlord, why is it  relevant, is the information secure and whether you all provided this information when you created Rentredi account.

Appreciate your insights on this...

@Avihay Ohana

thanks for the information. I've sent you a PM for me to connect with you and learn about various deals that you've successfully ventured into. 

@Jason E. Smith, thanks for the lead. I will get in touch with Kevin and will discuss how his team can help with my goals. I will also join the association to take advantage of networking opportunity and meet other like minded people. Appreciate your help!

I want to start building my portfolio and looking for creative ways to find some of the potential multi family, 2-plex, 4-plex, Single Family home deals in NC (Charlotte, Gastonia, Belmont etc.,). What markets have you had success in? Any insights and recommendations from the experts?

My goal for 2021 is to grow my knowledge, network and portfolio in real estate investments. Currently investing in SFH but want to venture into multifamily properties, acquire and manage 2-plex, 4-plex property and multifamily apartments. For 2021, looking to make few acquisitions in multifamily and grow rental portfolio, that would give solid cash-flows and yield appreciation on 5-10 years hold :)

@Daniel Alvarez - thanks for your wishes, I need them :)

Based on my analysis, my anticipated gross annual rent is $21,600. Being this my first investment property, I want to see if I can self-manage this property. Further, I live in the same neighborhood, down the street from my investment property. We will see how it goes with self-management. Thanks!

@Huang, as mentioned the listed price is competitive to the Charlotte Market. Listed price was 280K for a 1800SFT. I have made 8K over the asking price, just to win the offer. Being a newbie to investment, I wasn't able to identify these issues with a naked eye. The inspection report was an eye opener :(

@Theresa, thanks for your inputs. The report definitely summarize the findings with legend, viz., "Inspected and Functioning", "Not Inspected", and "Repair or Replace". The above list is some of the findings from the R&R. I will ask the inspector and see if he can provide me a sub-list of "Must be done" items with cost estimates so I can negotiate with the Seller/Seller's agent. 

My agent always discounts these as minor/cosmetic changes that are caused due to foundation settling issues but I am not an expert in RE Investment and looking for experts to chime-in and help, please :(

@Payne, thanks for your insights. Just to add answer your Qs, my expectation on this was to have a "Ready to move-in" property so I can start renting this out to prospective tenants. The listed price is definitely competitive to the CLT market but I am not sure if the repairs are significant for me to walk-out of this deal. 

My investment strategy is to buy a SFH in a hot market, with a very minimal cosmetic changes to make it rental ready, actively rent it in "as is" condition, and get decent cash-flows. I am hoping to buy-n-hold for another 5-10 years with decent cashflow/appreciation.