All Forum Posts by: Anthony Conway

Our first mobile home was a 1998 wind zone 2 3/2 bath on a rented acre. Purchased for 4K spent 4 k on renovation and sold for 3 k down and payments of 430 for 60 months (28,800). This is also the home that got us into the rental game. I had always kicked around the idea of having rentals but did not want to invest 20% down payment on something that would maybe turn $100 dollars per door per month. Also while marketing this home for sale is what led me to our next property. Which is a stick built home and 2 mobile homes on one acre. The numbers on mobile homes make sense for us but you have to be careful because MH are depreciating assets, that's why mobile homes on land are best because the land is a appreciating asset. We look to be all in around 30k for one home on one acre. Have to learn the laws around you, age of home? Wind zone ?

135k seems like a good deal for this city. Where is it located with good schools? If you are going to rent it out do the bare minimum and rent it. 3/2 in james island or west ashley should rent for 1300-1500 before renovations and not much more then that after the reno right? So fix the leaky bathroom shower, clean it up and rent it out, then when you are ready to flip it in a couple years you can do the granite and floors.

Clair, my wife and i have been building our Commercial fleet vehicle cleaning company here in Charlestono over the past 4 years.  We have also been investing in real estate deals in the area for the same amount of time, we have flipped houses from Johns Island, Downtown to Ridgville. We have been focusing on long term buy and hold properties recently and building our cash flowing rental property portfolio. What kind of commercial cleaning does your company do? Are you going to invest in Kiawah or look elsewhere in the area. 

I think anywhere on I-26 between Columbia, SC and Charleston , SC is a great place to buy and hold. There are tons of new jobs being created everyday in Charleston, SC. From the Boeing Plant, Volvo, MUSC, Google. I have been in Charleston for 3 years now and have never seen a area grow like this one. Although the state does not support the growth with the infrastructure that is needed, it does not seem to affect the companies moving here. The prices in and around the city of Charleston have skyrocketed, which is forcing a lot of people to expand outward ( down I-26). But like mentioned above the rental property tax is higher, I believe that the higher gross rents cover that. 

Hey, we are currently looking for a rental property in the area but only have 30-40K in a IRA we are looking to invest.

What about Charleston REIA? Have you looked into this group? They have a lot of good meetings for members and nonmembers. I go to the first thursday meeting of every month at the Embassy suites in Charleston, SC.

The day before we closed on buying a house to flip the ac condenser got stolen. 2 weeks before selling and  closing of that same house the new ac got stolen. So we waited until 2 days before closing and put  new one back in , I then sat there for 2 nights and watched the area, crazy what you see start lurking around as soon as the sun goes down. So it ended up costing us about $4000.00 and i found out from the scrap yard they only get about $30 bucks so $4000.00 for them to get $60. I now anchor my ac units down if possible. Also leave a note on them that says, If you are going to steal this unit, Call this number first and i will give you more money to leave it. Real Scum sucking bottom feeding low lives do that ****.

Rickie, We have a couple different "renovations for rental" going on in Summerville, SC, Ridgeville, Dorchester 11 areas. If you ever want to stop out and talk about real estate contact me directly.  

@Rickie Natividad

Jeff, I have recently transitioned our focus to Buy and hold and cash flowing rentals here in Charleston. I have been focusing my attention within a 1 hour radius of Charleston to find  deals. I spent a good bit of time looking for 2% deals within the city limits with little luck. But for 1% i would suggest  all of Mount Pleasant. I have a partner that strictly buys homes in the newer neighborhoods off of 17 and  41 (dunes west area) buys for $200,000 rents  for $2200 month. Mount Pleasant has the best Public schools around and attracts a lot of people for that reason alone. I personally Like the growth of Summerville/Dorchester 2 but is a little outside of the area you mentioned. Charleston is also a challenging city in generaL to find multifamily rentals. Feel free to call or email me if you have any questions.

yes, 

 Just sounds like a couple bird dogs helping out a  busy wholseller. Happens a lot around here, just guys helping guys, everyone trying to make a buck. I will ask who I am working with, what they have it under contract for? and how much all wholseller/ bird dog fees are?