All Forum Posts by: Brittany Scantland-Lall

Random question (delete if not permitted): I'm thinking through a mobile office (think refurbished van, coffee truck, etc). Anyone have any good starting places for that? I don't think I can swing a full Sprinter remodel, though they're lovely. TIA.

I would also check out Facebook and local dealers. Look up people who are doing that and ask them where they got started.

Yes- good call. Thanks!

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Quote from @JD Martin:

This is going to be really specific for whatever your needs are. You can start from scratch with just an old cargo van or you can buy something already customized. As for sources, you'll be looking at craigslist, ebay, etc unless you want to go new.

@JD Martin Thanks so much for the input!

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Quote from @Brian Salazar:

@Brittany Scantland-Lall

He insists the grantor is the one who writes the trust. I’ve emailed with the other questions you mentioned and am awaiting an answer. How concerned should I be with that answer?

Yes, that it technically correct, but a bit of a legal fiction. Attorneys draft lots of documents they're not a party to. I assume (correct me if I'm wrong) that you're the one who will fund the trust - not just manage its assets. Again, there may be something in TX law/practice that explains this - hang tight and see what he says.

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Hi Brian - I'm an attorney (though not a real estate one and not in TX - just to be clear). I'm an estate planning attorney in NC. When we set up trusts for clients, I cannot think of one instance in which we are the grantor. Generally, a grantor is the one who creates the trust (not necessarily the one who drafts it, but the one whose assets will fund it). That being said, I would just ask more questions. Why does the attorney think that would be advantageous? Why are you not the grantor, as well? Does the attorney receive any compensation serving in that role? What is the attorney's role after the trust is created? Answers in the law are usually - it depends - so dig deeper. Great instinct.

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Quote from @Myrtle Mike Thompson:

Quote from @Brittany Scantland-Lall:

Quote from @Myrtle Mike Thompson:

@Brittany Scantland-Lall I don't have any clients who own at Litchfield Inn but it's an interesting proposition. The HOA fees are much lower than you'll find with nearby properties to the north in Garden City, Surfside, and Myrtle Beach. I can tell you there is very little turnover at Litchfield Inn... meaning units rarely come on the market. There was an efficiency listed for $140k but it's now under contract. You could check AirDNA or similar software, but my guess is gross rental income would be around $20-$25k. Keep in mind efficiencies are very difficult to finance, so something like that would need to be a cash deal. If you're open to other areas or resorts for STR, feel free to reach out. I've brokered deals for BiggerPockets members all up and down the Grand Strand.

@Myrtle Mike Thompson thanks so much for that reply/info! Yes, we might consider something else in the future. The condos in North Litchfield are great- but not quite where we are right now. Same with some of the property in Litchfield by the Sea. Out of curiosity- what makes an efficiency unit not as finance-able?

Most lenders have a minimum square footage requirement of around 450-500 sqft, and many efficiency units - including that one at Litchfield Inn - are smaller than that. A lot of efficiencies also lack a full kitchen, which is another requirement with most lenders.

Got it - thank you!

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Quote from @Myrtle Mike Thompson:

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Hi Team - Does anyone have experience with the Litchfield Inn, Litchfield, SC as a condo investment? We have vacationed in Litchfield/Pawleys for years. Because we're usually down with more family, we don't stay at the Inn (though we eat there). We've wondered about it as an investment property. Experience? Insight? Thanks! Brittany

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Quote from @Ryan Johnston:

Great to have you @Brittany Scantland-Lall! I'm also in Charlotte myself. Happy to offer any support/guidance if ever needed. Best of luck in your investment journey!

Thank you!

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Charlotte, North Carolina

Quote from @Alex Talcott:

I'll next be in Charlotte to attend this:

https://www.multifamilyinvesto...

Wow - thank you - I didn't even know about this!

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Charlotte, North Carolina

All Forum Posts by: Brittany Scantland-Lall

Brittany Scantland-Lall has started 4 posts and replied 17 times.

Post: Not quite real estate...

Post: Not quite real estate...

Post: Is it common for an attorney to assign themself as the grantor

Post: Not quite real estate...

Post: Is it common for an attorney to assign themself as the grantor

Post: The Oceanfront Litchfield Inn, Litchfield, SC

Post: The Oceanfront Litchfield Inn, Litchfield, SC

Post: The Oceanfront Litchfield Inn, Litchfield, SC

Post: In south Charlotte and ready to learn!

Post: In south Charlotte and ready to learn!