All Forum Posts by: Terrance Clark

Do we have any investors who are licensed that wholesale? Curious how you are navigating through?

I am a licensed broker, however I am also an employee of a family owned real estate company who wants me to start a wholesale division. As they prepare to get into fix and flips.

Which type of zoning is needed to build duplex or quad? I would love to make this my first investment house hack a new build. in a good area.

I live in a small town where there are plenty of homes built in the 20s and 30s they have been converted to duplexes.

However I believe these homes would be good converted back to single families.

My question is with little to no comps how can value be determined

I’m in an area where it is majority a renters market. This property also has many amenities, the property is already at 100% occupancy (which certainly says rent is low) none the less on the low end it’s a cash flow of 100k. Hand picking your tenants is cost effective in terms of upkeep. Lastly with expecting tenant turnover we can implement our flipping strategy where we know what our tenants can afford, and what they like hopefully helping the time it takes to turn our flips. There are other ways and other tax breaks we take advantage of, mortgages are not really what we are interested in right now. We have properties that are mortgaged but hoping to become mortgage free in 24-36 months build stronger cash flow and go into better mortgages in better equity positions in the future

I will call around to find the best option I know there are banks that will allow you to pay off huge chunks at a time with no penalty. Its so much better not having a mortgage you can be very picky about your renters get the most high quality tenants, people who will take care of the property. Mix high quality rentals with a flipping strategy and boom you have a business that will pay you in many different aspects

Any suggestions

We are trying to run very lean until we have 500k a month in cash flow. Until we really want to leverage credit. Being lean allows us to be picky about the tenants we allow in the property.

We are looking to acquire 160 unit multi family.

Located in NC, can anyone refer a mortgage company that doesn’t have a prepayment penalty

I am confused I built a list on list source and selected "units- number of" as 3-4 but when I purchased the list literally everything is SFR. What did I do wrong?