All Forum Posts by: Scott Emsley

What happened to Charlotte Multifamily Inventory? This seems to be the lowest inventory of Multifamily properties! Is this a cyclical thing? A fluke? Is Charlotte just having a random slump? Are other markets having the same inventory drought?

What do you think is going on here?

Hey Folks, I'm looking to connect with others interested in the Charlotte Metro Area, North Carolina. I currently operate assets in Colorado and Kentucky, and I'm moving my sights to North Carolina.

• My Focus:
• 15-40 Units
• B-C Class Assets
• Charlotte Metro Area and Concord/Kannapolis
• 1975 - 2010 Construction

I am finishing a few smaller projects in Colorado and I'm looking solely into the Charlotte Metro Area for the future. If any of this interests you or you have any additional knowledge about the area, I'd love to connect with you.

Thanks Steve! I haven't done any real estate stuff south of Whitewater, but that's just because I haven't looked. I am totally open to it. I am interested in any flips, wholesales, or holds and I've certainly partnered with other folks in the past. 

My dream is to own a Airbnb in Telluride! 

I live and work, in and around Grand Junction, CO. I love real estate investing, because I love to help people. I have been flipping and holding properties on the Western Slope of Colorado, but now I've got too many deals to handle myself. So, I have begun wholesaling so that I can continue to help these sellers with their unique challenges. 

Grand Junction, CO is an incredible market for Investing! Whether you want to make short-term profits with Flipping, or long-term cash flow and depreciation with buy-and-hold, the western slope of Colorado has something for every kind of investor.

Where do you think the market is headed? What about construction/materials costs? Is this really the "new normal"?

Feel free to reach out to me through messenger if you are interested in chatting about wholesaling in Grand Junction and the western slope of Colorado. 

@Andrew Kougl

One key was a local bank. Normally a bank might not lend, but this small local bank was willing. This is a small, rural area, and the property was in need of some work: new roof, flooring, HVAC, water heater. I over improved it with new appliances and granite countertops. The nice thing was that the labor for all of this work was inexpensive. 

Investment Info:

Single-family residence buy & hold investment in Franklin.

Purchase price: $93,000
Cash invested: $25,000

Fantastic BRRRR! It's cash flowing well, but I still over-improved it. If I could do it over, I would spend less to get it rentable. Expect to refinance my cash back out soon.

What made you interested in investing in this type of deal?

I studied the BRRRR strategy, almost too much

How did you find this deal and how did you negotiate it?

Friend of a friend, on Facebook

How did you finance this deal?

Traditional bank financing

How did you add value to the deal?

Over-improved, I will do less in the future

What was the outcome?

Good cash-flow, but it's over-improved

Lessons learned? Challenges?

Over did it on the rehab. I shouldn't have invested as much for this area. Stainless steel appliances and granite countertops mean nothing. Oh well!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Gabriel Graves, Keller Williams Bowling Green Kentucky

Sounds good! I look forward to talking to you!

I am still looking for the same. Could anyone provide recommendations on a Wyoming attorney for LLC holding company?

Wow @Brian Bradley!! Thank you, thank you, thank you. In my viewpoint this trust fits all of those IRS.gov data points on abusive trusts. That would have been a very costly mistake for me. I know that you are not an attorney in Colorado (where I reside), but I would like to take this conversation offline and pick your brain a bit, if you are willing. 

@Howard Woo @Shay Ghafoor @Brian Bradley @Kat Hughes

I am looking into the Platinum Trust Group and their options as well. Meanwhile I have been talking with a Wealth Counsel attorney about forming a trust, talking with ProVision Wealth and WealthAbility about tax and legal planning and advising. Each company has a different take on asset protection and taxation strategies. Platinum Trust Group proposes the most expensive option, but also seems to cover all of the bases of the others. I don't know where to turn. It seems no matter where you turn with this, each person says "that other company is doing it all wrong, you should do it my way (and pay me instead)." 

Each person seems to have good advice and recommendations when I talk to them, but as soon as I talk to someone else, they have good information and good criticisms of the others. Do you all have any more information in follow-up to the posts above? Any recommendations on where I could turn for unbiased, personalized information and advice?