All Forum Posts by: Aaron Sizemore

@Tim C.

That's pretty awesome, Thanks! Whats up with SC taxes?? $3k in property taxes for a $50k house? Thats $250 a month sucked out of my potential cash flow! How do investors make it in SC!? lol

Maybe I shouldnt have made that offer this morning lol. There are tons of decent single family homes in decent move in condition for $50-60k. So I thought how could I go wrong? Buy a $50k house, rent it for $800, better than $50k sitting in the bank collecting $17.00 a month. Even with 50-60% off the top for expenses, should still cash flow $300-$400 a month. In theory that is lol.

@Chris Adams

Good eye on the Camaro! That pic is a couple years old and the Camaro has since been sold off and evolved into several new/different cars lol.

@Raymond B,

I tried that originally, just like FB. But for whatever reason its not working.

It will be a buy and hold as a rental. I have used a number of calculators to get a ballpark number for Cap rates/IRR/ROI. However, when I performed my calculations, I figured them up at a regular owner-occupant tax rate. So as it stands, I will be forking out approx $225 a month just for taxes. I am buying the house cash so regardless, I should bring in a cash flow of around $300-$400 a month after operating expenses are paid.

@Thomas Morris

Its crazy! I was only hoping that deductions such as: Depriciation, repairs, travel, home office, insurance etc, would offset the huge tax hit. Am I thinking correctly?

Hey guys,

I am new to the REI scene so take it easy on me! I have been soaking up all the info on the website for the past couple months but have yet to find good solid info about property taxes for rentals. I just submitted an offer for a single family (Fannie Mae) property in Columbia SC. My understanding is that property taxes are almost triple the cost for rental properties ($2700 for this particular property). So my question is, will all of my deductions/tax advantages offset this horrible number?? I am assuming so or it would be very difficult for investors to own so many rental properties.I just wanted to run it by the professionals. Thanks guys!

Thanks guys!

Hello all!

My name is Aaron and I am a current resident of beautiful Summerville,SC. I am 28 yrs. old and quite the newb when it comes to real estate investing, however, I have been soaking up all of the amazing resources that this awesome website has too offer. Two months worth of doing research and I think I am finally ready purchase my first rental property (hopefully?)! I will be making an offer first thing tomorrow! I have yet to make it to any of my local REIA meetings but will be doing so in the immediate future. Any other rental property owners in the Summerville/Charleston area? I would love to pick some brains! Thanks guys and gals!

Hello all!

My name is Aaron and I am a current resident of beautiful Summerville,SC. I am 28 yrs. old and quite the newb when it comes to real estate investing, however, I have been soaking up all of the amazing resources that this amazing website has too offer. Two months worth of doing research and I think I am finally ready purchase my first rental property (hopefully?)! I will be making an offer first thing tomorrow! I have yet to make it to any of my local REIA meetings but will be doing so in the immediate future. Any other rental property owners in the Summerville/Charleston area? I would love to pick some brains! Thanks guys and gals!