All Forum Posts by: Christopher Canning

@Caleb Coblentz, I'll have to take a deeper look into West Ashley.  As a local in West Ashley, I know of a few areas that may hold potential, but hadn't really considered them as I had figured the under lying property values maybe too much for me at the moment.  

Hi BP,

My name is Chris Canning and I've been lurking on and off since 2013, but I'm finally ready to move forward.  I have a day job as an engineer, 3 young children, an old dog, and a great wife.  We've lived in Charleston South Carolina since 2007 and have seen a lot of change but we'd like to be a part of that change moving forward. 

To start with, I'm interested in buy and hold rentals (SFH 2-3 beds). I've been concentrating in North Charleston, but recently I've been investigating, Hanahan, Goose Creek, and Summerville. After tracking the MLS for sometime and visiting a number of houses I realized to make the numbers fit my criteria, I will need to find a distressed property, probably off market and employ the BRRRR method.

I've already learned so much from BP, but I still have a ways to go.  

Looking forward to what's to come,

Chris

Newb question: I'm planning on doing the BRRRR strategy, and I've been looking at a number of SFH in my area. I feel like I've got the point where, if I see something pop up on the MLS I know immediately if it will be a good candidate or not. However I still do not have the knowledge that I feel like I could use to know how much the rehab will cost.

Most of the houses that fit my requirements that end up on the MLS in my area are foreclosures. My question is; if I know the deal looks good before I even look at it, should I (1) bring in a GC on my first visit to a property to get a rough rehab estimate before I put in an offer, or (2) should I put in an offer using my guess of what the rehab might cost (based on my little to no experience), then once under contract, get it inspected then bring in a GC for a quote on my SOW and then attempt to renegotiate?

I've heard from my insurance agent that Jeff Hutto at Welch, Roberts and Amburn downtown is really good.  I don't use him myself, as I do yet have a need, but I plan on reaching out to him in the next 6 months.