All Forum Posts by: Dylan H.

@William B Schmolze Being born and raised in Savannah I'm pretty bullish on it. I have yet to travel to another city that has the small-big city vibe, and the diverseness as far as activities, jobs, tourism, industry, etc. That being said, I am worried 30-40 years out about rising sea levels and a lot of Savannah being pretty low lying. So, just don't buy in a flood zone unless the houses floor height is above the base flood line or the numbers are crazy good like a short term rental (pretty hard to find, people know what they have these days). 

I haven't done a lot of research, but I know some bigger investors that are very bullish on Brunswick, GA. Again though, lots of areas in flood zones, but it's about 10 years behind Savannah in popularity I've heard.

@William B Schmolze Look up the two Savannah Real Estate Investors facebook pages. Will find all of the connections you need there. As far as the STVR stuff goes, Savannah is extremely regulated and capped on the number of properties that have a certificate that make them eligible to rent short term. The certificates are now like gold, and they convey with a property if you buy one that already has one issued. The STVR is definitely not oversaturated due to this reason, but prices of properties that have the certificate now convey that in the price they command at sale, so there aren't really any deals on them on the market. You also are not going to find deals to flip on the market for the most part. Best bet is to get on some wholesalers lists, but all of the best deals are being kept in house with most of them now to wholetail or keep as their own rentals. This is forcing most serious investors to have to do their own marketing if you want any sort of deal.

Best of luck, it's an amazing market with tons of opportunity. Look up the MPG Real Estate Podcast w/ Josh Moseler, it's a Savannah, GA real estate podcast with all of the big hitters in the area as guests. So tons of great info. That's where you could quickly learn about all of the questions you have plus connections you need.

Look up the Professional Investors Guild (PIG) in Pcola. You will find all of the connections you need in there. They meet once a month, great for anyone in the area.

GA is an attorney state. Rubnitz, Thompson, Ziblut in Savannah is who I use.

Hey @Nickie Moreno, awesome that you have this great tool of a line of credit from your business. I would personally not recommend the LOC as a down payment on a property, even as a young, aggressive investor. If you did, you would have this large interest-only balance looming over you with little motivation to pay down quickly.

If you haven't, would also recommend reaching out to some rockstar realtors in Savannah to get a good idea of the super competitive Airbnb market if you don't already have an idea of how it works. The airbnb market in Savannah is pretty restrictive downtown, and our beach town of Tybee just implemented a moratorium on issuing new certificates. I would reach out to Chelsea Phillips or @Pat Wilver who are investors and active realtors very plugged into the Savannah market.

Back to the LOC, I would only use it as a tool to make cash offers on discounted properties, where you could refi out that money. Use the savings as a down payment if you're going conventional, but it's just an opinion. The cash as a down payment is a position of strength, vice the LOC which is the opposite.

@Matthew Powell You sure you guys had those rules straight? As long as the property isn't in the zoned areas near the historic districts downtown then I thought and am pretty sure you do not need a permit. They only capped the downtown areas I thought, ie don't need a permit or other permissions to do it elsewhere in the city unless your HOA doesn't allow it.

@Michael Herren Pretty much all the investors I know in Savannah are interested in mulitfamily. Obviously finding the deals, and at the right price is the hardest hurdle these days. If you've got anything or need anything let me know! Shoot me a DM with what you're up to.

@Ray Jaramillo being local I would not recommend. All of your concerns are concerns I would have and would not expect the best results. If you could find something reasonable in the East Hill area that would be prime for Airbnb (close to downtown and close to beach), plus there is not a lot of short term inventory in East Hill. 

@Sylvester Hill It's honestly really hard to find people to respond and be reliable in Savannah. Get into the Savannah Real Estate Investors Facebook groups to try and find some decent ones, but everyone struggles and no one really wants to share. Even the ones I was initially referred are overbooked and hard to get onto jobs. Good contractors now adays can name their price and be pretty choosy which jobs they want to work.

@Curtis Bellenot Thanks for sharing these awesome deals!