All Forum Posts by: Brad Swearingen

@Tony Garcia, it is near Raleigh, NC.  It is in Franklin County which is right next to Raleigh, NC.  It is more rural about 20 minutes outside of the closest large town.

@Peyton Dunseth, Thanks!  that helps to know what I am looking at timewise.

@Eliott Elias, that is good info.  I have all that except the surveys.

So based on what I am hearing here, I may not be able to close in 2-4 weeks.  That's ok, I can be patient.  It is just good to know in advance what to expect.

@Nick C., thanks for the info.  What do you recommend as a time frame for DD and closing?  My current contract gets 60 days to close with 2 weeks for DD.  Is 90 days good to close or do I need to go to 6 months to close and 60 days for DD?

I have a lead on 60 acres of land I would like to wholesale.  I think it is a good price but where do I find comps for 60 acres close by?  Also I am sure there are a bunch of things I don't know about wholesaling land, so what things should I know about land that a buyer might ask me?  Whose responsibility is it to run a perc test?  Seller, me, or buyer?

Thanks!

Brad

Hey Everyone!

I just found this post.  I live in Wake Forest as well and love it up here.  My wife and I moved here 6 years ago to get out of the busyness of Raleigh.  Ha!  All the traffic followed us up here.  Anyway, my rentals are in High Point and Kinston.  I am new at being a landlord and it has been a tough road so far.  I am not about to give up because I am in this for the long haul.  I am a member of TREIA but would love to connect with all of you as well.  

Brad

@Jenell Poncabare, I am looking for vacant lots in neighborhoods for the purpose of building houses.  I am also looking for vacant lots in general to build houses on.  We are a small group so I don't want huge swaths of land.  But if I could find 5-10 lots per month to build on, that would be great.  Zoning would be residential.  Do you know of a software that would help me find lots like these online so I don't have to drive around everywhere searching?

Thanks!

Brad

Hey Aaron!

Yes, I could look in the county tax records but our records are such that I would have to look at each property individually to see if they had improvements on them.  I am trying to find software that would filter out the entire county and show me all the in-fill lots in neighborhoods.  There could be hundreds or even thousands of these and I am trying to make the process less labor intensive.

Brad

Is there software that helps me find in-fill lots in neighborhoods that I can build on?  Or is there a more efficient way to find empty lots than driving for dollars?  I am trying to do this on the computer instead of driving around the entire county.

Brad in NC

@Rachel H., thanks!  I am getting a good deal on the lots because the owner doesn't want to deal with it.  The squatters have been rude to him and he wants nothing more to do with them or the process.  I do know a property manager so I will get some advice from him as well.  Hopefully I can still get some good input from the BP audience here.

Hey Everyone!  I have a contract signed on three mobile homes.  The seller owns the lots.  Someone else owns the mobile homes but they have abandoned them.  Then there are some unknown squatters living in those mobile homes and not paying rent to anyone.  I would like to buy these, fix them up and rent or seller-finance them.  How do I get the squatters out?  How do I take over possession of the abandoned mobile homes?  How do I keep the squatters out while I am rehabbing and selling/renting?  I can't drive by every day because they are 90 minutes from my house. Looking forward to hearing the solutions from all the creative investors!

Brad

I am asking because I heard it was better to close near the beginning of the month so you can apply the rent to the closing costs if you want to, plus I don't have to pay my first payment until the next month.  A friend of mine said it is better to close at the end of the month because otherwise the lender charges you more.