All Forum Posts by: Vinay Kolluru

Many of the credit unions and banks I've worked with actually will not lend for a rental condo purchase. Just an FYI.

Also, in my limited experience with condos in the Raleigh area, I've seen that they do not appreciate at the same rate as other types of residential real estate. In some cases, I've seen teh values go down. It all depends on what your goals are, of course.

I agree with what was stated earlier. It will be tough to find a cashflowing rental in Morrisville/Cary. But you might have some good appreciation.

Feel free to message me with any questions.

Sean, I'm in Cary, NC. Feel free to message me with any specific questions about the area.

Hey Joseph, my understanding is that if you wanted to team up with an accredited investor though an LLC in order to invest, both members of the LLC would have to be accredited. And, as I'm sure you know, both investors would require a 3rd party verification of assets to prove their accredited status.

Let me know if this is what are asking or not.

Not sure if you are a member, but I've had good experience with SECU. 

And I haven't used them myself, but I heard Bank of North Carolina is good.

Welcome to the area. Looking forward to connecting you. We can definitely share some notes.

I think they might still be able to work with you because you in NC. I'll PM you!

I'm sorry, I don't know much about the Atlanta area. But you should create a new post asking this specific question. I'm sure many people can help you!

I'm here in Cary, NC and am also self employed. I have had good luck dealing with Southern Bank. They are a sister bank of First Citizens but Southern Bank keeps their loans on their balance sheet. This means that their underwriting process is a little different than the bigger banks and it is easier for self employed people to deal with them. PM me and I can send you my banker's contact info.

I've also heard good things about Fidelity Bank NC, Allegacy Credit Union and also Bank of North Carolina. 

If the investor's spouse is a Real Estate Professional, then the investor should be able to shelter W2 income. Assuming that the couple files a joint tax return.