All Forum Posts by: Tyler Watts

For flooring you may want to consider resilient plank flooring from home depot. Good product for buy and holds and flips. You may be putting this in an upstairs section so it wouldn't be ideal, but something that may help. Exclusively sold at home depot. I put is in my primary home & my buy and hold investments. 

If a bank can make money most will look at and review. BB&T is big in NC and I've had success with them.

Depends on your strategy. Higher assessment = higher taxes. I look, but don't pay attention to city assessments. Not sure if they are all the same, but in my area they make an assessment from their city vehicle. Banks know this and don't pay attention to it either, at least the ones I deal with it. The appraisal you have from a 3rd party will hold true to the actual price tag. If the numbers are in your favor sure it's a selling point, but I wouldn't spend time on worrying with it. 

PM me. I focus in NC more in Shelby/Gastonia/Charlotte area

Cross your T's and dot your i's. I'm in the NC market and you can achieve those ROI's with the right deal, but make sure you take in account everything. Property Mang/Cape Ex/Repairs etc. I've walked the neighborhood before and knocked on doors asking about a property. You'd be surprised what neighbors know and how much info they will give you. It takes some guts, but without uncomfortable situations like knocking on a random persons door, your goals will be that much harder to achieve.

NC is known for it's mill town cities and a lot are turning around with the millennial's looking for something small and close to all the amenities. 

Remember- You make your money when you buy!

@ Bob Derwin Thanks for your input, but I'm skeptical of the response. I think that's a fair response to have to a statement of "what might happen". I mean isn't that the case for anything in life? I'm all for following someones advice...if it makes sense . There isn't any evidence to back this up so disregarding that he's an attorney, I feel there should be more on the table vs. a "maybe the cfurrent owner will get an attorney involved and come after you b/c the City MAY have not followed protocol.". This is a diamond property in a up and coming neighborhood and will only increase down the road so it' s not as easy as walk away. NC is a closing attorney state and I'm still learning, but have been told that another attorney may give insurance. I can't validate this as title searches are not $5 a piece. Just wanted to pick the brains of someone who may have been down that path

Meant to add that the attorney could not provide any evidence of wrongful foreclosure other than " they get in a hurry sometimes". Last time I checked, Cities don't move lighting fast. Plus this would be a huge issue for a City if that was the case. They would have lawsuits out the butt.

Looking to buy a 4-plex from an auction thru a city. It's your typical auction with 10 day upset period. I had an attorney run a title search and the answer I got back was " Stay away as I'm not sure the City followed the right protocol on foreclosing on the property, therefore he could not get title insurance on it as the owner could come back and cause and mess". Now this is my first round, but everyone I have talked too raised an eyebrow when I explained this. I have spoken to the City and the lady horse laughed me when I said this and said she had never heard of it. She also explained that she couldn't find any liens or mortgages tied to it BUT if something came up it is on me. So I'm mixed b/w responses. My main concern is title insurance and not getting a loan when I want to re-fi. It's not a deal breaker, but definitely something i would like to know before being the winner bidder. 

Any thoughts or guidance is very much appreciated and worth a big fat steak dinner if your in my area or coming thru!

Thanks in advance for reading and any help

If you gents are ever in the Charlotte area feel free to reach out. Always game for lunch!

sounds like a future business partner to me. I would use it as an opportunity to learn something. Nothing better than getting paid to learn!