All Forum Posts by: Junior Salters

Hey guys,

I've been trying to study the market for 4 unit and above multifamily properties and apartments in these areas, but can't seem to get a grip on the market. I live in the upstate but work in Charlotte and I know Charlotte is continuing to thrive and grow as a city and see a lot of student housing being built around UNC-Charlotte but wasn't sure in terms of quads and larger apartments. Hopefully, you guys may know more than me. Looking to get a fourplex (on my own) or apartment complex through syndication.

Hey Austin, Welcome to BiggerPockets. You will definitely gain alot of the knowledge you need here. Good luck in your ventures!

Thanks @Aaron Mazzrillo , we decided to go that route with it! just waiting to hear back from sellers!

@Adrian G.  Thanks, that's very helpful. I think we were leaving out factoring in tear down cost. After really taking a closer look they could both be rehabbed (both 1000 sq ft 3/1s). We low-balled the seller who said he would sell all the above for potentially less than 15k and offered 6k because houses were essentially 15k-20k rehabs with 50k ARVs. These will be rental units once fixed.

When it comes down to the selling and the buying of lots for houses, what am I looking for to analyze a price to offer. The situation is a seller has a 2 houses and 5 lots for sell. The houses are close to tear down, but wasn't sure what should be offered on lots. Never dealt with this before so any help would be great! Thanks!

Welcome to BP, Matt! Wish you well!

Welcome to BP, Mrs. Gloor! I'm right down the road from you in B Springs! I hope all goes well with you real estate ventures!!

Congrats Patrick H!

Welcome to BP, Bailey!! Good luck in your ventures!

Honestly Kevin,

If it needs that amount of work and he won't take any less than $40,000 than you ultimately don't have a deal. Best thing you could do really is talk to the seller and explain to them the repairs it would need and try to get them to come off the price. Just my personal opinion. Are you looking at it as a rental or fix and flip?

Welcome Jason,

I invest in Spartanburg right down the "street" from you. Hope all is well!