All Forum Posts by: Ravi B.

Jason, thanks for the idea.  I most certainly will try that.

Keith - They provide a warranty for fixing the pipe/plumbing, however no consequential damages, i.e. tenant possession damages, they lost many items like rugs, decor, electronics; they just moved in with most items still on the floor.  I know they say to refer to insurance, however I feel, as well at the tenant, they should not have to utilize their own insurance for a brand new property and then their premium ultimately rise, if anything I would presume the builder would've utilized their own GL coverage.  The builder even called and said they would pay for property damages, and then backtracked that.  Also, this isnt the first leak, it occurred on the a separate unit immediately after completion of construction as well (which i covered out of pocket thinking it was a one-off issue). All around, a disappointing experience that has caused tons of stress. 

Wanted to post here to warn investors about a builder in the Triad/Triangle area called Keystone Homes.  Bought a brand new townhome from Keystone Homes that immediately after closing had a raw sewage leak that covered the first floor in feces. Unfortunately, the plumber was very familiar with the issue as this has happened with other Keystone Homes. We wrote and tried to engage in dialogue with the builder for two months to get compensation for our damages, which they declined. Keystone could have chosen to do the right thing, but by reading their complaints on the BBB and other sources, it is clear that this is an unprofessional and unethical company. We got no reassurances for long term damage to our home as well, which we are still investigating. They repaired the leak/piping, but nothing beyond that. 

I went to every local and state board as well as consulting an attorney.  Builder finally came back two months after numerous emails/phone calls and said "they are not responsible for consequential damages"; the language poached out of their contract.  I know contracts favor builders, but I guess I was under the assumption they would do the right thing.  I could understand if this was an older unit, and given we purchased two units from them (both had raw sewage leaks), that they would at least try to meet us in the middle. Attorney advised we don't have much recourse given the language in the contract.  The plumbing issue is just one of the numerous defects in the home as well.  

Buyers stay away if you want to avoid disaster.

Great, thank you Jason.  Will definitely shoot him an email. Much appreciated. 

Hi BP Community,

We closed on a rental townhome (brand new construction) that immediately had a raw sewage leak that covered much of the first floor damaging tenant possessions on day one.  The builder has been giving us the run-around on compensation for damages to tenants possessions, and the issue appears to be systemic as the same issue happened with a couple of other units in the same community.  What recourse do I have here?  Is it worth pursuing my landlord policy for the claims adjuster to go after their insurance or filing a lawsuit?  Damages came out to slightly over $4k.  I got wind that the builder is checking their warranty language (outsourced to a third party I believe) to find a way out of responsibility.  This has dragged on for two months now that has created a lot of stress for myself and the tenants.  Any advice is greatly appreciated.  I assume filing a lawsuit will ultimately cost more money than what its worth, unless you all have different experiences.  

Try searching on Alcove Rooms.  They are a Company focused on supplying bedroom rentals at a cheaper price point in the Triangle Area.  

I was also wondering the same.  My local accountant told me there wasn’t really anything special he could do if the real estate investments were in our personal names.  Would love to hear from others if there are tax saving strategies beyond your common expense line items associated with real estate properties.  

Good points, and will take into consideration.  We have primarily purchased new construction over the years, and now looking to get a mix of cash flow & appreciation.  Thought Mebane was particularly interesting given proximity to RTP, and new developments coming there.  Also, figure people that can work remotely may be looking for an area with slightly cheaper rents than RTP area.  I def need to do more research on how to find off-market deals/locating an agent that has access to that information.  Thanks for the input!

Hey Guys,

Long time lurker on BP, and active investor in the Triangle area for last 3 years. As prices continue to skyrocket in Durham, Morrisville, Cary, and others, we have expanded our radius to find profitable opportunities elsewhere. There was a relatively new builder in High Point, NC (Keystone) that sold many townhome units to investors there and the Winston-Salem, NC area (both areas experienced significant HPA). They advised Mebane, NC is another area for opportunity. Any one had experience in this market near Tanger Outlets? Any idea of what achievable rents could be for 2 bed/2bath townhomes/SFR?