New(ish) member in South Carolina

[Heidi Wilson]

Hi there, I’ve been procrastinating introducing myself until I could get a profile pic up but apparently the only way to do that is on my computer and not my phone so I’ll post without a photo (sorry!). You can find me on LinkedIn or Facebook if you are curious. I own four SFH rentals which I bought as majorly distressed properties and rehabbed. I didn’t know at the time that I was “BRRRRRR”-ing (or however many Rs there are). I called it “the long flip” in my head. Creating equity up front by buying crap houses in nice areas and making them amazing, then renting them to high end tenants for top dollar until the day I want to sell. My intent is to buy ten houses but I gotta say the multitenant thing is tempting the more I read about it. But regardless I will always buy a crappy place and rehab. I can’t stand to buy a place where the value has already been created by someone else. I work full time in telecommunications and that funds my real estate ventures. I have a lot of flexibility with my job which allows me to be on site during projects. I also rehabbed my own house and am trying to figure out if I should sell it or rent it or hang onto it. It’s in a hot area and prices are going through the roof. But I also feel like “selling now” is almost always too soon unless it’s for an amazing reason. How I ended up here: I caught the real estate bug in Calgary when I stumbled into a hot market and made good money on a condo in only a year! That will never happen again - total luck. Then I bought a distressed condo in a hot area in Montreal and renovated it. Then planned a move to South Carolina and bought a house sight unseen for $44k to renovate and live in. 4 months later (while still in Canada) the house across the street from my dad came on the market so I bought that one sight unseen to renovate (better area) and decided to rent the first one. I loved it so much that I can’t stop! It’s a sickness. I love the thrill of finding a deal and transforming old properties. And rentals are my escape hatch from the corporate grind. Fun fact: since i moved here I have now bought and renovated 5 houses in 2 years while working full time. I’m tired! Fun fact number two: I really enjoy living in flip flops now vs boots. Question for the group: I have a friend who keeps trying to convince me to flip. I feel like the rental angle I have is a good one. Am I missing out?