All Forum Posts by: Ashley Millar

UPDATE:   For anyone who might be following this or comes across it later.  The adult seller went to a judge who allowed the sale of the home, as long as the minor's portion of the sale was put into a trust for him when he is of legal age. She doesn't want him to have any of the proceeds at all and wants to take this to civil court. In the mean time, we are not willing to wait around all summer for her to get her act together unless seller reduces purchase price.  Home is now off the market, vacant, with huge list of issues that only get worse with time ( like mold and rot).  On to the next deal instead!  

thanks @Alex Franks.  I totally understand Rock Hill from a buy and sell stand point, but my goal is cash flow.  I suppose any town with jobs would bring people who prefer to rent vs own themselves.  I've heard a good strategy is to just pick an area and know it very well.  If I don't watch out, I'll own only 1 in every town nearby. Thinking I need to focus.  Thanks for your thoughts 

I'm just looking into Rock Hill SC as a potential place to have long term buy and hold rentals.  My question is how is the rental market? Meaning are things renting quickly? You don't have Fort Mill schools, not all that close to CLT for jobs, and no military base like in Columbia bringing folks to town.  Other than students (who move out after a year or so) what brings renters to Rock Hill? Seems like return on investment works, I'm just new and looking for the experienced folks to educate me. Thanks!

You certainly are.  Sounds like you found a great deal as recently property values seem to be well above your purchase prices.  That's what I'd love to find to keep me from driving to Columbia every time I need to address an issue.

Just curious what type of return do you get on your fort mill properties?  Making the the 1% seems difficult here in town. 

Hi.  I'm in Fort Mill with a rental in Columbia.  Closing on a second one in Columbia this week. That market is much better than here in FM for returns. Where are you?

So in general the crowd says "run"! Who knows how long before the guardian could get before a judge?   Plus, it sounds like a judge could still stop the sale of if it isn't in his best interest. If the agreed upon price ( with the adult owner) wasn't so great, I'd have left the deal last week. Maybe I won't sign the latest extension request and start looking for other deals. 

The kid is only 10 years old. 

We are under contract to purchase a rental property and the day before closing it was discovered that one owner was a minor and the property was not actually owned only by the adult who claimed to be the sole owner.  Anyways, they found a real estate attorney and I'm wondering how long the process might take.  The sellers aren't giving us much information other than filing extensions and saying they found an attorney.  This is in SC.

 Thanks