Newbie from Charleston, SC

Newbie from Charleston, SC

Rental Property Investor · Atlanta, GA · Member since 2014 · 17 posts · 6 votes

Hello everyone! I'm Jason, and I'm an engineer who recently moved to Charleston fresh out of grad school. I'm currently renting, but I'm in the market to buy my first home because I'd like to start building some equity. I'm leaning toward a condo or townhouse because I like the idea of less upkeep, but I'm not married to that idea. I realize that I likely will not live in this home long term, so I thought I should look at it as more of an investment property than a traditional home. Hopefully in the near future, I will want to settle down with a family in a more traditional home and I can either rent this place out or sell it for a profit. In order to do that though, I need to make a smart purchase, and that is how I came across Bigger Pockets. I do love what I do, so I don't see myself doing REI full time, but I could see myself buying a few properties using a buy and hold strategy and setting myself up for the future when I'm done with engineering!

I'd love to hear some advice from the experts on here about what type of property to buy and how to get started.  I've been looking through the information on the site, and I'm learning a lot!  I've also been emailing real estate agents to find the right one, and I'm thinking of working with a buyer's agent that I met with.  But perhaps I should speak with an agent that specializes in investment property.  Does anyone have any recommendations for a good investor's real estate agent in the Charleston area?  Thanks for listening and good luck to everyone in their investing!

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Rental Property Investor · Charleston, SC · Member since 2013 · 43 posts · 12 votes
12y

Hey Jason,

Welcome to Charleston and to BiggerPockets.  As the others said, follow the blogs and podcasts and you are in for some great advice.  The Charleston market is picking up and there are lots of properties for sale right now.  There is a good supply of both town homes and condos, so look around and be selective.  Here is the contact info for the agent that has helped me buy several of my buy and hold for rent properties.  He totally understands the market and is an investor himself: Bryan Hammond, [email protected],

843-276-9253.

Feel free to contact me as well if you want to discuss my experiences with the Charleston market.

Thanks, Tim

Marshland Investments, LLC

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  • Fix & Flip, Wholetailing, · West Columbia, SC · Member since 2013 · 215 posts · 60 votes
    12y
    Good luck Jason I'm sure after reading here and listening to the podcast you will be on your way. Charleston is a great place I was in Isle of Palms today. I always love coming down there. I live in Columbia let me know if I can help in anyway...
  • Rental Property Investor · Atlanta, GA · Member since 2014 · 17 posts · 6 votes
    12y

    Thanks @Ronnie Boyd 

  • Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    12y

    Welcome!

    We own two property in Summerville, SC in the westcott plantation. They were bought as pure rentals. My husband is active duty military. Our strategy has been turning a transient life style into one that allows us to buy personals and turn them into rentals when we leave. I than self manage form afar. We also invest in pure rentals, (south Carolina).

    Many of our friends have rented out their spare bedrooms allowing them to "pay" for their mortgage and often times utility living rent free. 

    You should also check out the blogs, podcasts, and forums. Another great resource is personal website/blog. Many of us including myself talk about our strategy and specialities.  When I launch I have posts about roommate contracts, self management from long distance, investing in a transient career, etc.

  • Rental Property Investor · Charleston, SC · Member since 2013 · 43 posts · 12 votes
    12y

    Hey Jason,

    Welcome to Charleston and to BiggerPockets.  As the others said, follow the blogs and podcasts and you are in for some great advice.  The Charleston market is picking up and there are lots of properties for sale right now.  There is a good supply of both town homes and condos, so look around and be selective.  Here is the contact info for the agent that has helped me buy several of my buy and hold for rent properties.  He totally understands the market and is an investor himself: Bryan Hammond, [email protected],

    843-276-9253.

    Feel free to contact me as well if you want to discuss my experiences with the Charleston market.

    Thanks, Tim

    Marshland Investments, LLC

  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    12y

    @Jason Ellis 

    Welcome. Take a good look at student rentals see below. Time to build the foundation below.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 80 past ones to catch up on.

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

    Consider checking out HUD homes for small multi's owner occupied gets first crack.

    To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what sides of the city they like/dislike and why. Ask what they see them selling for and what expenses are by category. Ask for market occupancy and rents. Ask if they know anything coming up for sale.

    You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good luck

    Paul

  • Rental Property Investor · Atlanta, GA · Member since 2014 · 17 posts · 6 votes
    12y

    Thanks for all of the great info everyone!  @Tim Schmitz I will definitely get in contact with Bryan...thanks!  

  • Dave VisayaPro Member
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    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    12y

    Hey @Jason Ellis 


    welcome to the site! Feel free to jump in the community here and also take advantage of the treasure of knowledge here.

    BiggerPockets
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