All Forum Posts by: Hunter Thompson

@John Leavelle I actually own my home even closer to the coast, so I am decently familiar when it comes to that territory. Sound advice none the less, and I appreciate the help.

@Dave Carpenter That is true about having the competition aspect, I didn't really think about it from that stand point.

@Bridget Smith-Osbourne That is exactly where it is actually, I will have to go check it out in person. Thanks for the advice.

@John Leavelle No, it is not in a flood area. It was caused by a hurricane. However, that comes to another weakness of mine. How do you properly estimated how much it will cost to repair what you want/need to repair. 

For example: If I had to repair x sq ft of the floor in the kitchen, and redo the cabinets, how would I properly estimate that?

Edit: Also, how do you determine ARV properly?

@Levi T. No, I hadn't but I will for sure. If I am reading the basics right though, as long as they are accredited investors and claim that through a CPA?

I have been trying to learn about some of the ways to avoid having any problems bringing on investors. I am curious, how does Grant Cardone get around being hit by the SEC for soliciting for investors? He seems to ask a lot on his show and on his websites for what appears to be random people.

@Nick Graham I am from Richlands, not too far from Greenville! I've also been searching for active people in the area to network with.

@Jerome Morelos I have also seen people make it a little higher or lower, so that way it helps minimize confusion with the tenant on what is the first month's rent and what is the deposit.

I have been presented a four plex on the market listed for 70k. The problem is that it was ruined with flood damage. According to the realtor the damaged areas were removed, dried out, and mold inhibitor was sprayed throughout. 

All four units are 2BR/2BA and prior to the damage rented for $600

The NOI was approx. 20k

I am not familiar with flood damage and unsure if it would be worth the hassle or how much extra I would have to spend apart from the renovations.

Any help or advice would be greatly appreciated!

@Bill F. Awesome, thank you! I'll be sure to check them out! Hopefully, I can make it to the next meeting.

Personally, as a new investor myself. I do not think I would really even look twice at a property with termites. Unless the property was just the best income producing thing I have ever seen. There are just too many more opportunities else where.