All Forum Posts by: Devin D.

Welcome. Check out the REI groups for the area on facebook. There are a good number of us here. All with different niches.

Sean....  I understanding completely about exchange rates.  Not saying that I would recommend this but you might check into the logistics and true cost of transferring it through crypto. (That's what it was really designed for and I'll likely take some heat for even mention it.  As a disclaimer I think there is tremendous value in the technology but as it is today its a horrible store of wealth)  

Charleston... I just purchased a property today... going to be a gem. The deals are out there but I will admit a few miles makes a huge difference here so know your localized market and know your comps.  Happy to chat more when your ready to start looking at options.

I hear you Jason. Park Circle is a great area. I'm sure these duplex house hack deals are out there in the market. I just haven't found them... granted I haven't been focused on it either. I also completely agree with you about being debt adverse. I personally have found a happy balance of putting 25% down on a below market value property and then putting in sweat equity and improvements. My most recent property netted me 50%+ equity ARV and cash flow of about 850/mth after getting it rented (rented before I even finished it... which is your next point... make it easy in even the worse markets to make your offer desirable). That said... it does tie up capital and though it's possible to do a cash out refinance I don't like changing my numbers often. Slow and steady wins the race. Warren Buffet once said "buy equity" I believe he also said "rule #1 is Don't lose money, rule #2 See rule #1".

Going back to topic... Pay down Mortgage for equity or save separately.... Unless you refi your primary after paying into equity or take out a HELOC apart from accelerating your payoff date... it still doesn't change your monthly out of pocket to save to put your payments to work for you. To put it a different way paying off your mortgage for more equity will only delay truly putting that money to work for you. Another way to look at it is if your interest is 5 percent but you are able to make 10% on the extra payment money then which is the better way to use of the funds. Peace of mind has a lot of value also and its truly a personal decision. I agree with Jason regarding a primary residence... even paid off it's never really an asset... you need a place to live and having someone pay for your living costs (as previously mentioned Duplex) or keeping your personal living expenses as low as possible through paying your house off... these are personal decisions. My personal findings after much self reflections into goals, ambitions, and personal situation is there is a sweat spot for peace of mind, risk/reward, and tax advantages.

I would have to agree with the others. Managing a single property out of state let alone out of the country can be extremely difficult unless you have experience and a trusted team in place. Having a property cost you is a liability rather than an asset. I would liquidate the property is Brazil and use the funds more local to purchase properties that will cash flow well. If you can not achieve at least a 10% CoC return and a good amount of forced equity look at syndication as an investment option. Let someone pay you interest while you figure out, study and find your niche. I see your in the Charleston area. Great idea about a duplex to let someone else pay for your living expense. My experience with this local market is that the affordable multi-families are in less than desirable areas and the ones in fair to good locations won't cover costs from one unit. Definitely not trying to discourage you from this path rather it may be a challenge to find what you are looking for that will also accomplish your full goals.

Best of luck and happy to provide some local contacts no matter what path you choose.

For example check out Holdfolio... 9-11% 15%+IRR.... If he is only going to get about 7% CoC and has to deal with the headaches.

The other metrics given are my personal buying criteria for my rental properties and yes they outperform syndications or I would be investing in things that outperform my personal returns.

Have you considered investing with a Syndication... better returns and no mess, no headache. I personally will not purchase a property to buy and hold unless I see a 15+% CoC return from day one and have 20%+ ARV in equity. Deals like this are still out there.

Best of Luck to you with whatever you decide.

I can't speak specific to cap rates today but when I was negotiating new builds for the health system I was overseeing it was right around a 10 Cap but that was about 3-4 years ago, specialty clinics and these were new builds. A lot really depends on the lease agreements... some agreements with providers include much more than the building... office furniture and even equipment... sometimes the tenant is responsible for everything including the HVAC units going out up to a preset yearly amount. Of course these will all impact the CAP Rate.

Pearce... call the NC housing authority... they are great.  From my understanding this is digital payment system unless your property has not passed the annual inspection (one of your PMs should know this but the housing authority will tell you if you ask) if your property failed the inspection they will withhold payment until they reinspect and pass.  Sounds like some kind of communication breakdown.

Check out facebook group also.  There are a couple weekly and quarterly meetings in the area all with different niches.

If short term a HELOC would make sense. In SC there is no closing cost.. FL I'm not sure but you should check. HELOC on an Investment property will be very difficult to get and your LTV will be well under 80% most likely. If you find something different let me know. Your FL property being your primary residence would be able to qualify for up to 100% LTV though most banks/credit unions will look to do something between 80-90%. If you decide to hold the new investment property instead of flipping it then you can do a cash our refi on it once your done and pay the HELOC back. Then you will have the HELOC available for the next one.