All Forum Posts by: Charles H.

Russell and Jeffrey, I appreciate your answers!

Are you from the area ?

I am sure you saw the quad on tybee for sale in the $1MM. My issue with tybee is that tybee is more seasonal than Savannah. Savannah ST seems to always be busy, but also fewer opportunities as well...

Have you looked at Hilton Head ?

Hello,

I wanted to have your insight on this topic. For out of state investor, it's no brainer, but locally, do you recommend to still work with a real estate agent when buying a property or is it not an issue to not have one and directly work with the seller agent ?

Obviously the seller agent will be in a win win situation, but I have heard that it's always good to have "your" agent.

Let me know what you guys think.

To our success.

@Kevin Brenner congrats! Where in Savannah did you get it ? MLS posting ? I live there so I am curious. As of insurance for 4-plex, you might have a good deal with yours. Next would be our local statefarm... all others are expensive IMO.

Originally posted by @Josh Wagner:

Charles, 

Do you have experience in the Savannah market? I'd love to chat with you about it if you have the time!

Thanks!

Hello,

I haven't purchased anything here (yet?). The issue is that we are driven by the "history" thing and properties are expensive because it's victorian etc. Now, the crime map is a must do like i said. Typically it is better to get close to a "square" (the famous square parks). We have SCAD that has tons of students who pays ridiculous amount of money for school and housing too. And we have flooding (heavy flood happened friday). I have coworkers who starts to wonder about leaving downtown and going outside savannah due to crime (hearing gunshots all night is not fun). 

Friday I will be driving for dollars... Scavenging in the nice area and see if there are any small MF to send letters.

I believe the savannah MSA is solid with gulfstream (where i work), JCB, Savannah Ports etc. But I would think downtown savannah for short term rental or student. I would recommend Pooler, Richmond hill, Rincon (best school so SFH), Bluffton (where i live in SC, 30 minutes commute). Also Port Wentworth seems to "wake up" on the G-21 corridor. I had plans to buy an abandon BI-LO but somebody was faster and turned it into a warehouse.

Originally posted by @Andy Mirza:

@Husain Abdul-Malik Savannah is a great market for someone willing to do the work. It's hard to value properties because there's so much variety in the neighborhoods and it really comes down to individuals blocks and neighborhoods. You can find rundown $30,000 houses and have million dollar plus houses a block away. Good luck!

Well said. The actual city is tricky. Must be sure to not be in flood zone and crime zone. Pooler, Richmond Hill, and even Bluffton are good suburb cities to take a look at. If only we had small multifamily buildings here, but it's mainly 2-4 or +100 units...

@Kurtavious Hickson Would be interested too! Thanks

Hello,

I came across a 50 lots MHP, listed for $600K, and REO.

The owner seemed to have a lot of properties and parks in the area, and had his management team, but according to the broker, "he is having a really hard time". I am not sure what's happening.

I asked 3 times to the broker if he had any financials available and i get no real answer about it, except :

- Some units in the park are owned by one individual in process of being foreclosed on as well.

- No guarantee of income

- City water and sewer

How should I approach this deal ? Should i go straight to the management company who is owned by the MHP owner ?

Thanks for the help. Attached is a pic.

Hi Roy, What type of commercial RE ? What are your plans ? I have one but... For multifamily, our market sucks... it’s either 100+ units or quads/tri/du unfortunately.

Give a try to Don Callahan from KW. He invests himself in properties here so he could maybe help you out.