All Forum Posts by: Cindy Bowman

My husband and I completed a flip in Washington Heights in September. The area is definitely becoming more gentrified but it is totally dependent on the street and part of the street. Our project was on Dundeen. There were several flips and new builds right around us but farther down the same street was a no go. 

https://www.charlottestories.c...

Interesting article about RE Investors in the Charlotte market. All the deals I have looked at are priced way too high to make a profit. Don't know who is buying them. Also as a real estate agent, I can say in NC pulling permits is a MUST. You would be setting yourself up for all types of problems without them. 

I can help as well. Reach out if you want me to set you up on an MLS search.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $200,000

Complete rehab. House was taken down to the studs. Learned a lot from this one.

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

House was in and up and coming neighborhood. Wanted to return it to its former glory.

How did you finance this deal?

Private lender.

How did you add value to the deal?

Husband is licensed GC with over 30 years experience. I am a licensed agent and accredited stager. We completely handled the project from purchase to close.

Lessons learned? Challenges?

Time is of the essence. This project took waaaaay too long. Add in a pandemic, supply chain issues, hubby having 2 back surgeries, father-in-law passing and it was the perfect storm. If we would have gotten on the market even 4 months earlier we would have likely not had an appraisal issue.

Interested in in-fill lots. Price depends on what full builds are selling for in the area. I am having a hard time finding anything attractive below $120k which in the neighborhoods they are in is too much to pay. 

Hello, please message me. My husband is a licensed GC who works primarily with investors. 

We are in the same boat. My husband who is a GC and I are seeing wholesale deals but the margin is too thin to make it worthwhile. My personal belief is that we are at the top of values and a correction will happen. Just may need to be patient. We are already seeing a lengthier time on market for condos and townhomes which is a future indicator for SFR. New construction is booming as more buyers give up trying to buy into the resale market. Not sure what is going to happen to all the homeowners that took the mortgage deferral and now have to pay up a huge sum. Not to mention the unemployment. Lots of factors at play.

Husband is a GC working primarily with investors for the last decade. Feel free to connect.