All Forum Posts by: Roberto Costa

Huge help Lisa.  Newbie in NC purchases so great insight.

@Justin Craver I'd really appreciate your guy number and name.  I'm out of town investing in Greensboro/High Point.

I'm out in VA and just started buying in Greensboro. Do you have a specific handyman or electrician, HVAC, etc guy you use Mr Coleman?

I have not property in Hampton Roads on auction. All 3 of mine have been off the MLS.

I've done last two properties Virginia at 20% down a few years back.  Now refinancing them both in the low to mid 3s%.

In Virginia you are not authorized to use their security deposit as rent.  I have done in in the past, but had tenant sign an amendment authorizing such change.

I currently own two SFR in Portsmouth. Bought them both on short sale in 2017 and 2018 and have no issues keeping them rented. The main issues I see in Portsmouth is to thoroughly do your tenant background checks as I see a lot of people kicking doors when trying to rent. Also be careful on the zoning as some areas require a COE and are constantly under city scrutiny.

Thanks for all the feedback. Just got in a contract with another property. This one is $152,500 SFR and I'm putting 20% down. Had a major bank offer me 5.875% interest purchasing 1 point. Also had a Credit Union offer 6.15% interest with no points, closing in 15 days (I've used them before). Currently leaning towards a broker I'm in communication with. He's offering to lock 6% with no points, closing in 30 days.

@Scarola Markson Are you a broker?  I just got quoted 6.125% on a $145K purchase with 20% down and I though it was pretty high.  Any suggestions?

@Patti Robertson

Question on renewing business license...I purchased 2 homes in South Carolina and sold them in 2017 as flips.  Do I need to register the purchase price of those homes as gross receipts?  I paid $82K for one and $74K for the other.

I am not really understanding the gross receipt thing.