Strategies to purchasing a property in North Carolina

WRAL NEWS AVAILABLE ON SPECTRUM AND THE WRAL APP ON YOUR TV OR STREAMING DEVICE. WE KNOW THE REAL ESTATE MARKET IS A ROLLER COASTER THESE DAYS. AND THIS MORNING WE HAVE SOME EXPERT TIPS TO HELP GUIDE YOU THROUGH PURCHASING PROPERTY POST-PANDEMIC. >> AND YOU LEAVE. IT IS AN ATTORNEY THAT FOCUSES ON REAL ESTATE AND FAIR HOUSING. HE’S JOINING US TO SHARE SOME INVESTING STRATEGIES. WELCOME. THANK YOU SO MUCH FOR BEING HERE. INVESTMENTS ARE MY NUMBER ONE PASSION. I LOVE TALKING ABOUT IT. BUT SPECIFICALLY WITH THE REAL ESTATE MARKET, WE KNOW THAT THE PANDEMIC HAS CHANGED A LOT. >> OH, MY GOD. HAS IT CHANGED EVERYTHING YOU SEE EVERYONE IS MOVING TO NORTH CAROLINA. IT’S WHERE EVERYONE WANTS TO BE TODAY BECAUSE OF THE PANDEMIC WHERE THEY REALIZE THEY CAN REMOTE WORK FROM ANYWHERE, WHICH IS DRIVING UP PRICES LIKE YOU’VE NEVER SEEN. >> ABSOLUTELY. I SEE IT IN MY NEIGHBORHOOD. I THINK WE ALL DO WHERE YOU LOOK AT THE PRICES OF HOMES THAT ARE SELLING AND YOU’RE LIKE MY GOODNESS. IT’S SO MUCH MORE THAN WHAT YOU MAY HAVE PAID. SO WHAT ARE YOU SEEING RIGHT NOW IN NORTH CAROLINA? >> WANT TO TELL YOU THE BIGGEST THING, WHICH IS A CONCERN WHEN PRICES GO UP, BUDGETS GO UP. AND I’M HEARING FROM PEOPLE IN NORTH CAROLINA PRO, PARTICULARLY IN THE GREENSBORO AREA, UP PRICES ON TAXES, 15%, 27%. AND MY BOOK REALLY DISCUSSES HOW TO BUDGET AND UNDERSTAND THAT YOU NEED RESERVE. SO UNEXPECTED AND IT’S REALLY IMPORTANT TO BE ABLE TO PAY THOSE TAXES BECAUSE THE TAX MAN DOESN’T CARE IF YOU DON’T HAVE THE MONEY. YEAH. SO WHAT STRATEGIES DO YOU HAVE FOR PEOPLE WHO ARE READY TO PURCHASE PROPERTY AND MAYBE THEY MISS THAT WAVE IN 2021? RATES ARE REALLY LOW. >> SO I WOULD SAY TO THOSE PEOPLE THEY MAY ACTUALLY BE LUCKY BECAUSE WE’RE GOING TO SAY THINGS LIKE THE RAIN’S GOING OFF AND TAXES GOING UP AND PRICES PROBABLY WILL START FALLING SOON IN THE NEAR TERM. AND WHEN THAT HAPPENS, THESE PEOPLE ARE GOING TO BE A BUYER’S MARKET RIGHT NOW IS JUST BIG, BIG, BIG BENEFIT. >> BUT WHEN YOU’RE IN A BUYER’S MARKET, YOU CAN USE STRATEGIC NEGOTIATING TO BE ABLE TO GET A BETTER PRICE. SMARTER GETS BETTER DEALS. >> AND ANDREA, ASK YOU A HARD QUESTION. IS IT A GOOD TIME TO SELL OR WOULD YOU TELL SOMEONE MAY BE TO WAIT 6 MONTHS OR SO? >> I’D SELL YESTERDAY. I THINK WE’RE THE TAIL END OF THE SELLER’S MARKET. WE MIGHT GET ANOTHER 6 MONTHS OUT OF IT. BUT SO RIGHT TO STAY IN A RENTAL. AND THEN BY ABOUT 6 MONTHS OUT, IF IT BECAUSE THAT’S WHEN THE OPPORTUNITIES ARE GOING TO START SPIKING. >> I LOVE IT TO WAIT ABOUT 6 MONTHS, IF YOU CAN. WHAT DO YOU THINK THE NUMBER ONE MISTAKE, PEOPLE DURING THE PURCHASING A PROPERTY? >> THE NUMBER ONE MISTAKE GOES BACK TO THAT CHAPTER SAID ABOUT BUDGETING. THEY DON’T REALIZE HOW MUCH THE MORTGAGE TEARING COST IS GOING TO THEY. THEY DON’T REALIZE LIKE YESTERDAY YOU HEAR THIS HEAT WAVE GOING ON. I GOT A QUOTE OF $8,000 TO REPLACE MY AC SYSTEM AND I CAN’T LIVE WITHOUT AN ISIS SYSTEM IS 110 DEGREES OUTSIDE SO THEY DON’T REALIZE TO THINK ABOUT THESE NUMBERS. THE SOFT NUMBERS, RIGHT? AND THEY DON’T REALIZE THAT THEY NEED TO KEEP SOME RESERVES. THAT IS SO SMART. WHERE CAN PEOPLE GO TO GET MORE INFORMATION? SO WE HAVE A BOOK THAT’S AVAILABLE ON BARNES AND NOBLE. IT’S AVAILABLE ON AMAZON. YOU COULD JUST GO GOOGLE ANY WORK. 10 STRATEGIES TO PURCHASE PROPERTY POST-PANDEMIC READ THE BOOK 10 DIFFERENT SKILLS. YOU’RE GOING TO LOVE IT. >> I LOVE IT. ANDREW, THANK YOU SO MUCH FOR SHARING YOUR TIME AND I’LL BE PRAYING FOR YOU