All Forum Posts by: Nasar Elarabi

WOW, this is a tough one. I personally would move through with the sale. however, 10k would make me close on it. LOL I am in the midst of buying another personal residence in this time. however, if everything goes through GOD willing its a live in flip. Just based off the numbers I wouldn't want the property let alone the speculation of the next few months. I say you have a conversation with the builder or Agent first to see if they are willing to do a price adjust ASAP. And this is Coming from someone who has built new construction. I wish you well on what you decide to do.

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@Souvik G. BIG banks are not investor friendly at all I agree. I have done the BRRR strategy multiple times and locally here in Charlottte I have yet to find a bank inside of charltote who will let you do a cash out refinance in less than 12 months.

All the local banks I know of who will refinance in a entity want 12 months Seasoning. You might need to find an internet company to do this strategy with... 

Hey Seth whats up man the condo market is very different from the SFR market. 2 different buyers for each one of the ASSET classes. We are about to hit Summer in Charlotte. I strongly recommend you sell and dont look back. WE could possible be in the top of the market and now would be the best time to cash out on a ASSET you were looking to sell.

Welcome to Biggerpockets! 

is this something you are selling? if so may i have more information. thanks

COME OUT TO NETWORK IN MY LATEST NEW BUILD PROJECT! ALSO if you buy in Gastonia, NC,  gaston county , Cabarrus county or Concord. Please be sure to bring your business card so I can get you on my buyers list. 

THANKS

Harry Marsh has done every type of real estate transaction.

Hey man I am in Charlotte, NC as well. To buy property in a LLC you will have to use cash, get creative and local bank funding. Banks that sell their debt to Freddie & fannie Mae will more than likely loan in a LLC. You have to go to a smaller bank that does these kind of loans. These are very risky loans so bank will ask for 2 year tax returns & etc. And you will find alot of banks wont lend on properties tore up from the floor up. so you may have to use hard money, fix up and then refinance. You can research BRRR strategy on here to learn more about that. As far as tax implications I am not sure on that. hope that helps