All Forum Posts by: Steven Custer

@Casey Roman

Completely understand the situation on hand. Being a business owner myself, we definitely have to jump through more hoops when looking for lending.

I’m a realtor in the lake Norman/Charlotte area.

My suggestion would be hard money lending (much higher interest rate) or possible go into cheaper markets. I’ve noticed up in hickory rentals do extremely well and very affordable. Might even find a decent duplex for 100k.

@Owen Thornton

So awesome to hear you’ve had the passion for real estate at such a young age.

Being in the same market. Charlotte/Lake Norman we should connect. Share ideas and grow together!

@Albertinny Colin

First off hope all is well. I’m a local realtor to Lake Norman/Charlotte. I’ve done a couple of owner finance deals recently. As an investor myself I’m constantly looking for that owner finance deal.

Hope to connect and talk soon.

@Chris Billington

Hey Chris,

As an investor myself and a realtor that represents other investors. I see in the Charlotte markets you can get close to the 1% rule. If you look in the Hickory area you’ll see house prices are cheaper and rentals are high demand. Hope this helps!

Investment Info:

Single-family residence buy & hold investment in Mooresville.

Purchase price: $225,500
Cash invested: $8,500

3 bed 2.5 bath in great location in Legacy Village

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

Love the neighborhood. Cant beat the prices and value.

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

Steven Custer with eXp Realty

Investment Info:

Single-family residence fix & flip investment in Mooresville.

Purchase price: $188,780
Cash invested: $37,756

Large 2 bed 2.5 bath townhouse in a great location next to Lowes Corporate

Investment Info:

Single-family residence buy & hold investment in Mooresville.

Purchase price: $177,500
Cash invested: $35,500

2 bed 2.5 bath townhouse in the heart of Mooresville. Great Location!

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

Cant beat the location on this one.

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

MLS

How did you finance this deal?

30 yr loan. Looking to refinance due to increased value and rates so low.

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

Steven Custer with eXp Realty

Investment Info:

Single-family residence buy & hold investment in Mooresville.

Purchase price: $167,000
Cash invested: $41,000

15 yr loan. Low cash flow but, paying off in half the time.

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

Great location and long term tenant already in place.

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

Off market with another local realtor.

How did you finance this deal?

30 yr but, then refinanced when rates dropped.

How did you add value to the deal?

Negotiated before hitting the market.

What was the outcome?

great property with no competition.

Lessons learned? Challenges?

Keep connecting with other investors/realtors to find deals off market.

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

Myself Steven Custer with eXp Realty

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $149,000
Cash invested: $7,500

First purchase that was planned from the start to become retail property. 2 bed 2.5 bath townhouse next to Hospital and Lowes corporate.

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

Being my first property every buying, I wanted something safe. Location was fantastic with a bargain of a price.

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

MLS. At the time it was my Realtor.

How did you finance this deal?

FHA 5% down

How did you add value to the deal?

Lived in the property with a tenant paying $700 rent out of the $850 mortgage

What was the outcome?

Fantastic first property in my portfolio

Lessons learned? Challenges?

Picking up the first one wasn't easy. Getting to the next deal seemed even harder but doable.

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

Rich T. My good friend and mentor.