All Forum Posts by: Sophia Griffies

@Addie Burchell I use Dean Dorton in Raleigh.

@Addie Burchell So sorry to hear your situation. I ditto the above comments to investigate MTR property managers, as well as tax consequences. I would definitely talk to an accountant if you haven’t done so already.  

Hey Dallas.  That's a nice rental.  My clients need a garage though so I don't think it will work.  I'll reach out if they change their minds. Thanks for sending.

Looking for a 3 month rental (furnished or unfurnished) with lease starting early July for my clients.  They need 3+ bedrooms, 2+ full baths and a garage. North Raleigh/Cary preferred but will consider other options.  Please let me know if you know of anything that meets these criteria.

Thank you!

I used Investors Title as the Qualified Intermediary for my 1031 exchange when I moved to Raleigh  (sold property in New Orleans and purchased here). They are the only local QI that I’m aware of. The tricky part of doing a 1031 exchange is lack of inventory for purchasing a replacement property and meeting the time restrictions.  Feel free to contact me if you’d like more details. 

Looking for recommendations for property manager for short-term rentals in Triangle.  Thanks!

I always call the HOA to verify rental restrictions and ask whether restrictions are being considered. You don't want the rules to change after you buy the property.

Particularly for townhomes or condos, you should also investigate the HOA's financial status. Are there any assessments that have been approved or are being considered? How often do the fees increase? How much in financial reserves does the HOA have? Newer townhomes can be a good investment, but older ones are tricky. I own 2 older townhomes, and there are constant assessments (including $6000 each for roofs) and fee increases.

These issues aren't always apparent from reading restrictive covenants and seller disclosures so it's important to verify with the HOA.

Hey @Gilad Naor,

Have you attended the TREIA meetings? TREIA’s a great resource for meeting investors who may have off market opportunities. There’s also a TREIA member who hosts a weekly “make a deal” get together each Thurs morning for investors to present their needs and wants.

Feel free to let me know if you’d like more information.
Sophia 

@Gavin Swain Reach out to Jesse Marinez with One Village Property Management or Debbie Rogers at Rogers Property Management. Good luck!

Hey Gavin, Hope you can find an attorney to help. My out of state investor clients typically hire a property manager who can handle evictions if engaging a PM is something you want to consider in the future.