All Forum Posts by: Curtis Mears

So is this an issue anyone else is experiencing? I have the issue whether using PC, samsung phone, or nexus notepad.

Not sure this is the right venue to ask this, but when I try to follow a Biggerpockets Alert link, I receive a "This site can not be reached" error. It used to work, ut for the past several weeks, nothing. I can access the posts by logging into the website, but very inconvenient. Anyone else having this issue?

Welcome Robert. I would recommend start going to houses for sale to get an idea of the market, even if you are not in a position to purchase yet. Also, you can begin research into areas to invest. As far as developing process, other before you have already done this, so use BP to go through some of these. There are some great articles on BP. I like the ones on getting tenants and screening tenants. 

Curtis

I am in the 27604 zip code and find them via mls. The nicer homes well have multiple offers within days of hitting the Market.

Ditto what others are saying regarding finding a deal. I buy in the $150k range and rent for $1,300. I can not say that I have found a "deal" in my purchases. But, I can find nice 3bd/2bath for $150k which need\ little to no work. I can turn around the home and have it ready to rent in a week. I calculate a cash flow of about $750 for a $1,300 gross (not including any mortgage payments).

Welcome James to BP. I am also a full time buy and hold investor in Raleigh, mainly on the East side of Raleigh.

Adam,

In my mind, it is fairly large. On the outside, it involves replacing about 50% of the siding (75 boards) and molding and any issues from water penetration.  know there is some mold in the cripple wall which will need to be fixed also.  Also, about 7 windows will need to be replaced as well as at least 1 exterior door, and repainting the exterior. Also, the existing deck needs to be made structurally sound as there is significant eroding of the existing footers. On the interior, there is some sub-flooring which needs replaced, and this may lead to new cabinets (depending on the contractors thought on this). Also, a leak in the washer line as well as any water damage from this. Overall, much of the issue stems from water damage. Also some electrical where switches have not been rewired correctly. I am guessing more will pop up as we get into the existing work. I had 1 contractor tell me about a week and a half of work, but I have never received any actual quote from him, so that may not be correct.

I have recently purchased a rental property on the East side of Raleigh, NC. The house needs some work such as replacement windows, rotted siding, unsupported deck, and several other issues (and probably more as we get into it). I am doing some of the work myself, but would rather have a good GC do all the structural work, electrical and plumbing. If you have a good contractor you feel comfortable with, please send me their contact info. 

I am finding it difficult to locate any deals in the 1% range.  Sellers in this market even seem to think the houses that need work should be sold at retail. I would love to find homes in the 1% range.

Alex,

I am buying similar properties in the Raleigh area, 3 bed/ 2.5 bath. Your numbers are probably not far off. I have found the 1% rule does not apply in the Raleigh area. Maybe if you are buying houses which need work, but buying retail is difficult to find those deals. I am finding numbers closer to .8%.