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Updated almost 11 years ago,
New Member in SC
Hey,
I am a new member from Upstate SC and am currently a junior at the University of South Carolina. I'm majoring in Finance and minoring in Economics (I will be taking some real estate and real estate investment courses over the next year). I've been interested in real estate investment for quite a while and I'm getting excited as I get closer to graduating and, thus, being able to actively invest in real estate. I've been extremely fortunate in that I have had to take on very little debt to get through school and, therefore, I plan to hit the ground running as soon as I get out of school and get a job.
My main goal is to be self-employed by the time that I am 30 through real estate investment. I know this is a very lofty goal but one that I really hope to achieve. That will give me approximately 8 years once I graduate to reach my goal.
The markets I hope to utilize the most are 1) Greenville/Clemson/Anderson (Upstate SC) area (this is my home and where I intend to live), Columbia, SC, and eventually (in the long run) into the Charlotte, NC area.
Some questions that I have for other members:
1) I plan to start off with single family homes. I would really like to buy and rent but feel that flipping may be a better option to start with in order to generate more capital to invest in other projects. What are your thoughts on this? Is my thinking wrong?
2) Despite my blue-collar upbringing, I am not a very handy man. This will obviously increase my costs for buying/flipping and even renting as I will have to outsource general repairs and maintenance. Specifically when it comes to buying and renting, what is the best way to find someone to perform repairs and maintenance? Note: I do plan on learning as much as I can and increasing my handiness as I go to be able to take on projects and some maintenance/repair on my own.
3) I've thought about taking real estate appraisal and home inspection courses through a technical college after I graduate. I thought these might be helpful for me to understand as I look at houses in the future. I wouldn't consider myself to be a professional or use my own appraisals and inspections as official but thought the knowledge might help as I could get a general idea of what a professional would think of the houses I'm looking at. Would this really be helpful or am I overvaluing these aspects?
4) Finally, of course, I would like to find a mentor or two in the area (or even someone from a distance who could communicate via email). If you have any ideas or could point me in the right direction of someone who could help guide me through the beginning process I would be extremely grateful.
Sorry for the long-winded introduction. I look forward to your responses.