He Bought 16 Units inside Charlotte for $1.2 Million
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- Опубліковано 7 вер 2024
- In this video, we are doing a walk-through of a 16-unit Apartment building. This apartment complex is in Charlotte, NC which is 1 of the hottest markets in the country. Ricky is giving us the inside edition on how he found this deal and how much the deal is worth after it's done.
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“Working for someone else at 39 was more scary then entrepreneurship” great comment and I 100% agree.
Great video. Thank you sir.
I like the fact that he was an athlete (still is) AND he invested in his life for after his starter career 👏🏾
Who cares about fame when you have wealth 👑☺️
This is a homerun deal at 85K a door. If he can get those rents up and keep the deferred maintenance and rehab under control his cash on cash return should easily be 20%. Youll probaby have a ton of big time syndicators making you offers in a few years for it
I live in Charlotte this is a great deal; the comment I loved is hes in control of whether the neighborhood goes up or down; You have a new subscriber, I need doors!
I said the same thing I like that word play
Seeing black people making moves like this puts a smile on my face. Pay attention to videos like this if you want to become wealthy.💵💰💰😎😎
but what about Trump?
@@wileecoyote5749 If you want to acquire wealth, studying Trump would be smart. I have read the Art of the deal and some of his books from Trump University. There is no denying he is a business genius.
It all Trump's fault I am dumb and broke
Yessir📈
Facts!!❤
about 6k per unit would replace the baseboard and window unit. It is also a good deduction for cost segregation, meaning you can deduct it quickly
I live in Charlotte... this is definitely a high crime area... ( would be cool if the brother offers affordable housing rates )... but you have to make whatever profit you are shooting for...
High crime area aka hood still have paying tenants. Own the block
@@intentionalrelations not worth $1400 per month, but I'm aware of capitalism...
@@jeromeharris2218 your an active participant in capitalism sir. Your $1k+ cellular phone is evidence. Instead of paying rent-own.
@@intentionalrelations my cell phone is $100 from Walmart... and for the record I have no issues with capitalism... # survival of the fittest
This is off Bradford dr
Wow ! This is so refreshing to see this ! Congrats bros !
I remember these and the sad thing is that none of us can afford these anymore. This is the issue that the city is having. We NEED affordable housing!!!!!!! I don't think they understand the housing crisis in Charlotte. There's so many places but they all are very expensive
This was nice to see! Its giving me ideas. TFS! Keep up the good content!!
Very good motivation for black brother's, Thanks. Let's support these brother's, hit that 👍 up.
Charlotte NC, is going to be my permanent home. This vid has inspired me...=)
This is going to be a banger for sure.
Man!!! I don't know what's going on with algorithms but I had to re-find you. Glad I did!!! Welcome to loc nation😁
Great video. Good nuts and bolts discussion.
My guy Rick!!! Haven't seen him since college.. Playin ball and now real estate!! A Pro's Pro.. Great too see. Congrats
Congratulations 🎊🍾🎈
Putting on for Charlotte N.C hell yeah 😎 I do remodeling all over Charlotte and gaston county
Looks good. This area has been slowly becoming gentrified over the last few years. I like it.
Absolutely
Keep it hard wood 🪵 that's coming back in style can't beat old school 🏫✌🏿.
Depends on the target clientele.
I'm impressed with these 2 young bratha's business minded 🌳🏠 🏠 🏠 🌲
Congratulations!
I wouldn't take out the window in the bathroom more likely will get moldy etc maybe a upper small window instead for venting
Strong fan will work just fine
👍🏽👍🏽Get your spray canister and hot water hot water for the ceilings then easy to scrap like butter lol...
Make sure cover floor with plastic tarp or any tarp.
Dallas is around 200k a door. You can buy better outside the metro at half that price with a value add play.
Great content @Realestate duru , but we need better audio, we need to clearly hear those gems 💪🏿💪🏿
Exactly, Staying is way scarier than anything we face on the side of Entrepreneurship.
With the Carolina hard money what do they ask for for a minimum credit score? I just applied but it’s the weekend and they are closed. I have a home that I’m trying to buy but the fees attached to it by the city are keeping me from being able to close because they are close to $10,000 over what I thought the property would go for.
Maybe you and I could work together?
That's definitely off Bradford key street Charlotte NC
Looks like Tanglewood can be a great move tho
Good investment. The deal is the land not the units. The units will pay for the land. The land zoned Multi Family inside the 485 loop will become gentrified and value of property will skyrocket.within 10 years. Property located in Opportunity zone when sold after 10 years could be capital gain free
Born and raised in Charlotte and still living here. They should have tore down those apartments a long time ago. That's like tryna bring a '68 Chevy back to life. He just making whatever he can off the real estate market these ppl don't care about the community FACTS
I love he’s doing his thing, hopefully he doesn’t make it to high people need housing they don’t need to get screwed over for profit
Trust they will
I wish I had the cash to be able to buy stuff like this
You don't really need the cash all you need is a nice business plan and some good credit. 🤔
Me too
Just need credit and loans you use the banks money to buy real estate
I use to stay here...Definitely the hood on the Westside of town
Intermittent fasting is a great way to keep weight in check.
Yeah, I keep hearing that..
True that. I’m seeing results of this right now.
I've tried it. It really works. The problem is you get the urge to compensate when you do eat.
@@KNByam that why I start with a large salad.
I'm seeing comments about how he's not gonna get his money back..I moved from Charlotte 6mths ago after 11yrs and he's definitely gonna make a killing. He could just government assistance them for couple years until the overall Gentrification of Charlotte comes knocking. I sold my investment property off Betties Ford b4 I moved to Maryland to get into legal Weed game and I made 150% profit after 2 1/2yrs! Charlotte still has diamonds in the rough to grab..they both know what they doing im sure! Congrats!
He will definitely make his money back in 2-3 years with the way people are moving into charlotte.. Charlotte is starting to book from the schools and colleges to the new jobs in downtown charlotte shiii even they sports teams
This makes sense for the location.
Thanks for the video. But Im concerned about the displacement of current tenants? As a future investor, how do you keep rent affordable for the longstanding tenants?
If that’s your concern this business may not be for you
@@DaVonteLee_ Lmaoo 😂
@@DaVonteLee_ Exactly
@High Vibe Section 8 Housing Program
@@DaVonteLee_ i dont want to help displace more black people. That could put someone on the path to being homeless
Man! The Charlotte area is growing & Great! Purchase sheesh!❤
Did he answer the question on how he financed the deal?
I was washing the rain🌧 , then I lost my wife to pokie and Ray Ray, my dog ate my wifi, and she left me too.
Nas we know a lot of the same people! We played ball together back in Winston.
Wow that’s crazy bro… 😳 small world
That's off Bradford and freedom dr
West side.
No west Blvd. Hemphill area.
@@Cryptocup316 Ok I know we're that at. 💯👊🏾
Congratulations 🎊 👏🏿
Not a bad investment - so basically after
4-5yrs - he should be getting his money back & start to make a profit.
He’s living the 🇺🇸 dream
Hi great information
How did he structure the deal?
All cash syndication.
Who pays utilities?
Don't know nothing about Charlotte. But doing deals in
Puerto Rico. Txs
What part of Texas ? I'm in DFW
@@Enterprise81 puerto rico no texas
Good stuff!!!
I stay in Charlotte
Charlotte NC in the house.
I'm uptown in Fourth Ward.
Man, that shit where I grew up. That's on hovis road. Those people don't pay rent. He f'd up buying those
It’s changing man… and with proper management you will collect rent..
If he accepts some government program the $$$ guaranteed. Problem is let's be real alot of the people who depend on those type programs are not the best tenants. People with a little structure in their life (work ...maybe a little church,temple or kingdom hall whatever) tend to take better care of the property than those with alot of time on their hands. No matter the race.
I agree. Charlotte is changing for the worst especially in some areas... Unless he hires robocop I dont see a good return in investment.
I could buy a whole block in a area that doesn't grow equity.
We can come out and pressure wash them!
This same place was Hella cheap for sale in 2011 I think it looks like same area.
How much was it in 2011?
I purchased a house 2 doors down for 8k years ago.. I should not have sold.
@@realestatedoru how much is that same house worth now?
Time mark for ALL number break downs ?
This is very inspiring 🎉
I live in New York and no that is not possible
Fire!!!
I live in Charlotte I need 1 of those apartments
No you don’t
How much per unit after it’s all said and done can he rent them for??
What zip code is this in
28208
I'll do all them units floor kitchen electricals split units 2000. I supply them brotha to brotha I'm head Ga coming from Cali we b perfect fit may move them water heaters
But but Jay Morrison.
Doru I have a question. How do I get in touch with you?
Smart move
Bad investment 1.2 apt building going for 5-6 hundred a month 😆😅🤣😂liability!!!!!!!
Overseas not "across seas" .
So y'all charging 1.2 while the rent is 800 900. Don't throw out them market prices. Throw out the price of lumber in 2022 vs 1980. Ya'll hell man.
Why are we hearing about ball players buying property
Is that Dillehay?
Naw
Shalom, how you do it???
What street are those on?
Awesome
Nice so ig I’ll take my 1.2 m from under my mattress n do the same🤷🏼
He's not a guru--He's a DO-ru!
U have to invest in order to create generation of wealth!
115
MOVE In Silence
Yall in thomosboro apartments 😂
How is this helping black people in that area if you not willing to dedicate a few apartments based off income it something, your basically saying eventually they gotta go and that's just business but just business won't get you closer to God but it will get your pockets fat 🤷🏿♂️
donate a quarter of your check then you can advise!
@@chiefs5822 this dude is going into poor black neighborhoods kicking the poor black people out and moving in whoever can afford it how fair is that when these people have been in these areas for years and there are no more areas in the city that they can afford jobs aren't paying more so what are these people supposed to do regardless of their education level you are basically telling me that they should have nowhere to go so this man can make a few dollars f*** you and him
@@6lakGesus You can donate some of your cash towards the poor people, that would help them afford some of the rent?.. Possibly others in that neighborhood can do the same.
He is a business man, not a charity organisation, and he has a right to act as such.
They should hire professional actors to do their videos.
He bought a piece of crap that needs constant maintenance and you have to deal with renters that don't want to pay
Good luck. Lol
It’s not hard to do when you have athletes money
No money in the rental market, don’t be fooled, people don’t pay rent in low income areas
That is not true. I’ve been investing in low I come neighborhoods since I got involved in real estate in 07
Not sure I understand your comment
What's his Ig name.
It’s in the description
Terrible crime and no jobs, best of luck controlling the poor slobs
Congratulations!