All Forum Posts by: Casey Crowe

One thing to note about Window World is that if you get windows from them and have them install them, they're required for the windows to meet code, which means a fancier window than their basic ones. So you can get cheaper windows if you install them yourself or sub that out. But getting from them requires a more expensive product. 

Also their grid add-ons are nuts! 84 Lumber is like $15.

PM sent!

If you're open to USC students, there's an off-campus USC housing Facebook group you could post it in.

What did you base your rent price at? West Columbia can be a crapshoot. Some areas have higher rents than others. 

I just got quotes from a few different places and 84 Lumber in Lexington is the cheapest, provided you're installing yourself. You can also find Stroud Supply out in Lexington/Two Notch area but they don't always have everything in stock. They're like a wholesaler of stuff. Everything is new. I paid $80 for a window there, but they just had the one. 

 
Hi Erik, have you checked the rents on this property? You may be hard pressed to get a single family to fork over the rent for that kind of house. Typically they'd just buy if they can afford something in that price range to rent. 

There are other great properties around that are good deals. There's one I've had my eye on but don't have the money to buy. 

The assessed value comes from the purchase price, OR an assessment, whichever is newer. SC hasn't had a state assessment in a few years now, so your taxes (paid in arrears at the end of the year) would be for the $140k. So $140,000 x 6% x millage. (Don't forget that if you refinance the property, it will trigger a reassessment to the new, ARV) What's the street address of the property? I can check your taxes if you'd like. Feel free to PM me, I'm not going to go scoop it up, I promise. :)

See this thread here: https://www.biggerpockets.com/forums/747/topics/697421-out-of-state-investor-starting-to-look-at-s-carolina

Hi Aris! Welcome! My advice to you is to be sure you understand the property taxes in this state, and use the calculators to ensure your numbers will work for you. Most of the time when you look at loans they will estimate taxes based on you living in the property. If you don't, they can be exponentially higher due to a couple different factors. You can always get a property to cash flow by putting enough equity/cash into it when you purchase, but be sure to run ROI numbers to see if the return suits you. Cheers!

Sorry, just seeing this. Yes, that's correct. BUT! There's something else. Owners get a break for the state sales tax they implemented a couple years ago. That gets deducted as well.

I ran a property today for a friend on a $138,000 house, and here's what the numbers wound up as:

Owner-occupied: $1,035.26 or $86.25/mo

Non Owner-occupied: $4,376.69 or $364/mo

Here's another I pulled today, same county but different school district, and the actual tax bill so you can see how it's calculated. The sales tax credit makes things fuzzy. (It's on my to-do list to talk to the tax assessor's office to get their formula for the credits)

You can always go to the respective county sites to run numbers. Lexington doesn't give you the  millage rates on their site, but Richland does: 

Same everything in Richland but owner occupied:

Does that help clarify? It's crazyness, I know. The only way to really know is to just run every single property through these things to see what they're going to charge you. That's why I like 2-4 plexes. It divides the taxes up among the doors (property, not buildings are taxed) and increases cash flow and makes rent more competitive. 

I've not used them as a landlord, but as a tenant Turner Properties was pretty good.