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All Forum Posts by: Steve W.

Steve W. has started 11 posts and replied 110 times.

@Marcus Auerbach Checked out a few of your videos, love it! Nice to see an agent doing such deep dives into their relative market.

Will the livestream be recorded? If yes I'll sign up!

Post: Fayetteville, NC COVID Resilience

Steve W.Posted
  • USA
  • Posts 119
  • Votes 102

Thanks everyone for the perspective

Post: BP Black Friday Discounts?

Steve W.Posted
  • USA
  • Posts 119
  • Votes 102

Just announced today

Post: BP Black Friday Discounts?

Steve W.Posted
  • USA
  • Posts 119
  • Votes 102

Will BP be doing any Black Friday discounts like they have in the past? I previously picked up a bunch of books and am hoping to do so again this year, but haven't seen anything advertised yet. Fingers crossed!

Post: Fayetteville, NC COVID Resilience

Steve W.Posted
  • USA
  • Posts 119
  • Votes 102

Well, I'm not surprised about rising prices. Everywhere I've looked, everyone I've talked to (not just Fayetteville) has a similar story.

But I take that with a grain of salt - although there may be corration, rising home prices is not the economy.

I was more interested in how the Fayetteville NC economy is faring.

A fun story - I had an investor friend in the Seattle WA area who complained people were paying full retail price for distressed auction properties. This was 2017.

Post: Fayetteville, NC COVID Resilience

Steve W.Posted
  • USA
  • Posts 119
  • Votes 102

Dear Fayetteville NC Investors:

Given the bull market (read: high prices) leading up to 2019, I wanted to find a long-distance Market that wouldn't chew me up, spit me out, and take all my lunch money if there happens to be a Market correction. I stumbled across Fayetteville, and reasoned it could be resilient with the assumption of Fort Bragg providing a backstop to the local economy, the main metric being employment.

But then COVID happened and I realized a potential vulnerability in my assumption: it doesn't matter if Fort Bragg can provide $$$ to the local economy if the local economy is shut down (maybe is wasn't /isn't).

I found this Forbes article that actually lists Fayetteville NC as one of the top places to invest during COVID. Seems to put my concern at bay.

https://fortune.com/2020/07/17/where-to-invest-real-estate-buy-sell-homes-best-worst-places-us-coronavirus-pandemic-housing-market/amp/

To the Fayetteville NC investors, in your experience how has COVID impacted the market? Do you agree that Fayetteville is in fact resilient to market corrections, even given the most recent current events?

Post: Deal Analysis Practice

Steve W.Posted
  • USA
  • Posts 119
  • Votes 102

Post: Deal Analysis Practice

Steve W.Posted
  • USA
  • Posts 119
  • Votes 102

@Robert Shortsleeves forgot to tag you in the reply above

Post: Deal Analysis Practice

Steve W.Posted
  • USA
  • Posts 119
  • Votes 102

Awesome thanks. As an exercise, for just cycling through deals on the MLS, what would you do for this property? Link

I am assuming new deck, new HVAC, back of roof looks bad. Kitchen and bath look like they were started but not completed. Inside walls are tore up. Using your breakouts, Maybe 30x 1050 = $31,500?

As a side note, what's with the 2 or 3 different external sidings? I see it all over the place and I think it looks terrible, like patches. Is this normal, do buyers/renters care? 

What's also interesting is I often see the front facing of a property will look legit, but then you circle around to the back and it's like the apocalypse. I don't understand why people neglect the back? Just because you can't see it from the street, doesn't mean buyers or renters are not going to care about it.