All Forum Posts by: Shaun Palmer

Ana Villa This area was hit very hard by Hurricane Mathew. It was not so much the hurricane but the flooding after the storm. NC in general had a lot of flooding and Fayetteville was one of the hardest hit areas. I would be very cautious of mold and any other water damage that may have not been mitigated properly. Are you local to the area or investing from a distance? It would be worth going to the property to check it out. Feel free to reach out if needed

Taye Nguyen Mindy Jensen Tate I could not agree with you more about the app not allowing to connect with colleagues. We need this function at BP

Patrick Young Interesting to see the feedback from everyone here...especially from the folks in different areas of the country. I focus mainly in the southern Raleigh area and 1% deals are typically what I am seeing. Granted I am not out making low offers for all properties. I focus on properties that cash flow between $100-$200 per month. However, I think that for every investor this is going to be different. I noticed a lot of replies but each investor has to focus on what works for them. For example... if you are after a property that rents for $1k per month and you are self managing it with a 20% down payment, then the COC return looks good at 1% (for my goals). You would see a 9-12% return. However if you use PM, you might see a much less COC return around 5-8% which might not work with your goals. My point here is that this is a difficult question to answer because it is different for everyone on what you want to achieve. I would say that after all expenses are paid and you are getting between $100-200 per month in straight cash flow, that is a good deal in my opinion for a Raleigh. However, it depends on how much you are willing to work for the return. I am sure there are better deals but for the near minimum, the 1% rule seems to work in Raleigh if you structure the deal right.

I am taking a look at Cozy for the property management software and one of the things that I noticed is that they do not have a phone number listed for contacting support. Has anyone had an issue with them? They only list email addresses. If anyone has a phone number for them I would really appreciate you passing along. I would think it is just good business practice to list your phone number on the website but that is just me. Anyone have any thoughts on this?

Dave Grimson I have never saw this sign before but my guess is that it is the bank's way of saying that they do not certify anything that was covered with the fresh coat of paint. My guess is that it could be lead based paint. How old is the house? If it is pre 1970, then I would say there is a good chance of lead based paint being covered. This is how most cover lead based paint but the bank might be saying that they do not guarantee anything. Typical of big industry Again, this is my guess. Hope this helps

Eder Kim Call a few contractors and get some bids. You can always guess on the costs but until you have the proper experience you will not be able to. Costs also vary wildly between different areas. Best bet - Call some GC's.

Paul Winka If you want to do it correctly, tile under it all. New construction always has the flooring under all areas in the kitchen and remodel jobs typically but up to the cabinets. The reason is because usually when you are replacing a floor in a remodel, the cabinets don't always get replaced at the same time. This is the only reason you see this in construction methods. You are correct about the dishwasher being locked in as well. It will happen in most cases. The cost is very low and will save you some headaches down the road. Tile under everything is my recommendation.

Matt Hoyt Well said....

A short while ago I made this post to find some contractors but I am still looking for a trustworthy handyman. Anyone have any good recommendations for Raleigh, Clayton, Garner, NC?

Brandon Clark I have used WW twice and overall they are a low cost alternative to window replacement. Installers were not the best and you have to watch them closely. Although they are only $200 per window, they will not perform any extras whatsoever. In example, I had windows installed and they did not install any insulation on the sill plates. Basically they just covered it with metal. It would have taken less than 30 seconds to add some insulation but they did not even mention it. I even had the insulation on hand but they did not bother. I actually had them remove the metal because they were. It honest about adding insulation. Again, cheap price just watch out for installation practices.