All Forum Posts by: Will Kaufmann

@Shaum K. I can offer some anecdotal experience. We recently purchased a 3/2 SFR in 27601 for $325,000 and it is rented at market rate for $2,200/month. That is very high rent for Raleigh as I believe the strongest market is in the $1,200 - $1,500 range. We purchased off-market at a discount and it is a turn key that was renovated in 2015. 27601, which is downtown / east Raleigh, is truly a block-by-block neighborhood. This is more of an appreciation play than cash flow, but having a conventional 30-year 3.25% loan helps. We live in the zip code so we are comfortable knowing which blocks are safe and which should be avoided. If you are looking for cash flow, I think you may want to look into student rentals around NC State. Obviously those come with a different set of expectations from a cost and management perspective.

@Ryan Groff

I have been scanning the offerings. Nothing has fit our specific buying criteria, but there are some decent opportunities. I trust our local rep, he is an honest and open person. 

@Cole Brunet I guess it depends on how you feel the priorities rank. For me, I knew that if I procrastinated on the formal requirements (classes, etc.) I would probably not complete them and let the license go inactive. 90 hours is a lot of education to complete in 18 months, especially if you have to cram it in at the 11th hour. Given you have a primary source of income, and assuming that your first efforts at lead gen are going to take a decent amount of time to develop/perfect, my opinion is that it would make sense to at least knock out one or two of the 30-hour post licensing courses. 

@Cole Brunet Given the current business climate it may be a good time to knock out the 90 hours of post-licensing. For me, that was probably the biggest burden in the licensing process. At the same time, it is practical and useful information unlike the pre-licensing and exam topics.

I got my license as a "just in case" qualification and have not represented buyers or sellers in any transactions. For me, the license opens up the door for referrals or self-listing our flips.

@Cole Brunet congratulations, not a small task with all of the time required to achieve and maintain the state license! Have you registered and/or completed the post-licensing education? With which brokerage did you choose to affiliate?

@Tremaine Baker there are very, very limited opportunities in Wake County that would fit your buying criteria. Many of the surrounding counties are likely more in line with your needs.

There are plenty of wholesalers in the area the offer a variety of properties. Do you have certain buyer criteria laid out (e.g., turnkey, small repairs, large renovations, home type, rent range, location)? Homevestors, NC Homebuyers, and Merrick Loveland are a few resources I can think of off the cuff.

What caused me to originally get in touch with the local branch was a Craigslist ad for a North Raleigh property that looked like it had a ton of potential. I was invited into the office to get the dog and pony show of what the company does, and then signed some innocuous disclosures regarding the fees and due diligence. Since then, I have been put on the mailing list and received a few leads that were not viable. 

Recently I found another attractive opportunity that New Western posted on Craigslist and after 19 hours of the original posting it was claimed that the property was no longer available. Interestingly, that same property (which fit my buying criteria) was not sent out to the buyer list, or at least not the one that I am signed onto. 

What conclusion would you draw on these facts?

Caveat Emptor, the NC Bar Form 2-T is distributed for the members of the North Carolina Bar Association and Association of Realtors and is technically only usable by those members. If any changes are made to the form agreement, (1) the logo must be removed, (2) any references to the NC Bar/NC Association of Realtors must be removed and (3) a conspicuous statement must be included clearly indicating that the form has been modified from its original and that it is not a NORTH CAROLINA ASSOCIATION OF REALTORS AND/OR NORTH CAROLINA BAR ASSOCIATION FORM. 

(not legal advice, merely an observation based on experience).