All Forum Posts by: Travis Bernard

My original post got deleted, I think I am following the rules with this one! 

I am an investor in the Charlotte and surrounding markets. What kind of price point are you looking for? Anything around the 277 beltline would be a hot area for flips, if you can find them. 28205 is a very hot zip for flips and new builds. Surrounding areas are great for buy and holds. I believe there is a lot of opportunity in the Gastonia area, also Concord, Matthews, Belmont. Let me know how I can help. Let's connect when you come into town!

What do you have it listed for? 

What are your goals with it? Do you want to get rid of it quickly or have it as a long term investment? If there is timber large enough to harvest, then you could harvest it and replant. Talk to the county forester to help with that process. 

I like the homesteader idea, they probably wouldn't be able to pay much rent for it though. You could advertise it on some of the homesteading forums and craigslist for something like that.

Another idea would be turning it into a vacation rental type property, emphasize the fishing aspect of it. This would take more money to get this going. You would need to renovate that cabin or put some other type of lodging on the property.

Curious about why a 10 acre property in the country has covenants against mobile homes. Is it part of a subdivision of large tracts?

@Justin Smith Hey, I am in Charlotte as well and am a newer investor, learning the ropes. I would suggest start going to the Hobby Millionaire meetings, you can find them on Meetup.com. There are a ton of good people that cooperatively work to invest in real estate. There are a lot of good connections to be made there. Start networking as much as possible. From what I have experienced so far, it is definitely a "all about who you know" type of industry. Good luck on getting started!

@Alex Fleck @Parker L. I would be interested in this group as well, I am interested in multi-family and scaling to larger multi-family. Charlotte is a great market for that right now.

@Scott Patterson @Don Harris Thanks for the tips! Those were my thoughts as well. I just wanted to make sure there wasn't some value there that I wasn't seeing.

Hey guys! 

I have a house under contract right now in Kings Mountain, NC, outside Charlotte, NC

Just got the inspection done, reviewed repairs with a GC, and want some help analyzing it to see if it's a good deal or not. 

3bd/1ba

Purchase $20,000

Repairs $25,000-$30,000 - subing out the work myself

ARV $55,000

Rent $800/month 

The GC/investor I have been working with siad it would take about 3 months for the reno

My plan would be to Brrrr the property. So assuming I could get a loan for 70% LTV, that would be $38,500.

Since this would be my first rehab, I would imagine I would end up on the higher end of the rehab estimate, so $30,000. That would mean I would still have $11,500 in the deal after refinancing. My thought is, I could go put that money as a down payment on an already rehabbed property. I would be getting a property of approximate value and I wouldn't have to do the work and spend the time of doing the rehab myself. 

Please let me know your thoughts! Thanks!

Looking forward to another good meetup!

@Account Closed I used Bruce King http://www.bakinghomeinspections.com/. He did a great job and was very thorough. I went stayed with him the entire time and he pointed out all the things he was looking at and gave me a lot of information on them. I will definitely be using him again in the future. Best of luck! 

I'll try to make it next time. I'll finally be done with my real estate pre-license course next week, so I can start coming to more meetups! Thanks for arranging this.

Thanks for setting this up! Looking forward to it!