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All Forum Posts by: Ryan Hoyle

Ryan Hoyle has started 2 posts and replied 6 times.

Post: Two foreclosures deciding between

Ryan HoylePosted
  • Investor
  • Charlotte, NC
  • Posts 11
  • Votes 2

I agree Justin, & ended up making an offer on the MH. Thanks everyone for the help.

Post: Two foreclosures deciding between

Ryan HoylePosted
  • Investor
  • Charlotte, NC
  • Posts 11
  • Votes 2

Thanks Marelyn. That's a good explanation, and I need to remember that about MH's. I'm not seeing any upgrades in the area's housing, but new business have developed around it, which is a good sign at least. One of those places where a mile or two away all the homes are quality.

Post: Two foreclosures deciding between

Ryan HoylePosted
  • Investor
  • Charlotte, NC
  • Posts 11
  • Votes 2

Thank you Olivier. That was a good explanation, and I'll certainly use that advice on using the renter with the longest time with the same employer. I'll probably ask to see his or her current home too, because I believe that will show what my home will look like in the future.

Post: Two foreclosures deciding between

Ryan HoylePosted
  • Investor
  • Charlotte, NC
  • Posts 11
  • Votes 2

I am in a bit of a predicament. A good predicament. Deciding between two homes for a buy and hold. One home is significantly larger 2.8k sq/ft and another 1.4k sq/ft. Both homes will cash flow nicely, but the 1.4k sq/ft home matches other homes in the community (it is a relatively new 2009 double-wide), and is nicely located to the cities best elementary and high school (with a mile between each).

The larger home looks 'too nice' for the surrounding community. Newly renovated 1950 home, that looks like a home I would even live in (not that that matters). New roof, HVAC system, vinyl siding, hardwood floors, paint, cabinets, bathroom sinks and showers, etc.. It is right next to a busy highway however, 1 mile away from a high school (below average in quality), but 3 miles away from a local private college that is quite reputable. The crime level is moderate in this area, and I worry I won't be able to rent it out to the quality tenants I would like; it also looks too nice to rent out to college students. It does have hardwood floor however, which is much better than carpet (I'd have to replace) in the double-wide. This home has potential to cash flow more, but I fear at a greater risk of vacancy. I'd have to ask $1000 in rent to meet my $150 cash flow criteria as opposed to the double-wide $800 to meet the criteria. This home costs 20k more than the double-wide (both which looks to be fairly good deals).

Which would you personally choose?

Thanks for the help as well my friends.

Post: Accountant & new investor

Ryan HoylePosted
  • Investor
  • Charlotte, NC
  • Posts 11
  • Votes 2
Thanks both of you for the kind words & information. Best of luck to you both as well!

Post: Accountant & new investor

Ryan HoylePosted
  • Investor
  • Charlotte, NC
  • Posts 11
  • Votes 2
Hi everyone, My name is Ryan & I'm new to real estate investing. I'm from Hickory, NC & live/work full time here. My specific job is financial accounting. I see real estate as a great opportunity to build cash flow while I'm still young (about to turn 25). I do not particularly desire to flip houses, but instead acquire tenants & reinvest the profits as I grow. I enjoy learning & growing as an individual, & the more I read about real estate the more I see opportunity. Thanks & looking forward to learn a lot here on BP!