All Forum Posts by: Travis Beal

First mortgage- $950 (not convinced a hard money lender is carrying a 30-yr at a low rate- I would confirm that) 

Second - $600 first year if I'm doing that math correctly. 

Tax, insurance, hoa- $170

$1,720/mo in PITI, leaving approx $600/mo for capex, repairs, vacancy, etc.

Using the 50% rule I see a quick and dirty cash flow of $2,300-($1,150+950+600) = -$400 and that's assuming you don't borrow the remaining $20k you need to get into this deal. 

Do you have any reserves to hold you over? Otherwise I would be hesitant to have 100% financing into a deal with no backup plan. 

Welcome aboard! If you come across any multi family or 3/2 SFR deals north of you in or around Sanford let me know!

 Don't forget "NC" in your keyword alerts as well. 

Unfortunately I don't have any GCs at this time. I see Welcome Home Construction heading out every morning when I'm going to the gym but I cannot comment on their quality of work, just that they're consistently starting their days at 5am. 

Tagged for interest. If you need me to put eyes on anything here in Sanford let me know. 

Charlotte and Raleigh are the hottest job growth markets but a saw a report that NC flipping profitability isn't that great  

Welcome aboard! In regards to the HELOC question- that ultimately comes down to your personal risk tolerance. Good luck!

Tom, I think you're sitting in a gold mine- good luck! Don't be afraid to let any of the growth trickle into Lee County. 

Welcome! Has Chatham Park changed your local investing strategy?