All Forum Posts by: Charlie Tunstall

Jamie,

Your idea of offering with good sold comps is a very logical way to approach this but you're dealing with an illogical market which favors sellers. Go for it because it's great practice for you, but be prepared for frustration and be ready to move on to something else. Patience will be repaid, I believe. Good luck!!

@Dave Foster. Thanks. Good points you make. I appreciate it

Single family property we own with bank construction financing will produce a pretty large profit after reno is completed. I should be able to finance long term and leave minimal amount of personal $$ in the project. I can save 30%+ on taxes by holding until cap gains tax in place. Rental will produce approx $400/mo gross profit with self mgt and no cap ex, maintenance costs(everything is new!) Holding for 1 year + should produce slightly higher sale price and create opportunity for 1031 exchange if still available in a year. I'd love to swap this for duplex/fourplex down the road. I'm trying to shoot a hole in this strategy. What am I missing? Thanks for any guidance/opinions.

I've had good luck with HELOC at First Citizens. Give them a try

John, I also have a great HVAC guy to share. Message me if I can help. 

this is all great advice you have here...I would simply add, spend a bunch of time..a bunch, on your tenant screening. Don't be in a rush to fill it and you'll set yourself up for success/happiness

RJ, there’s a FB page for Charleston Area Real Estate Investors where you can find a bunch of them. Good luck

@Nathan G. I’m getting ready to lease out my first duplex and was leaning towards a No Pets policy. This article has me rethinking that strategy. Thanks for sharing