All Forum Posts by: Jason Burr

@Tavaris Little  I have yet to invest in the Spartanburg area.  However, I do feel there are some deals to be had.  Spartanburg properties are cheaper but so are rents.  

Jim! Didnt know you were in the game. Lets grab lunch one day. The market is crazy right now.

Ive been in the Greenville area all of my life and have been buy and holding properties for 20 years. In my opinion Greenville is saturated with investors and multi families are very hard to come buy. Its extremely easy to over pay for properties right now.

Dont get stuck with all the fancy business structures.  Too many folks spend more time debating the numerous ways to structure things and miss deals in the process.  What part of SC are you moving to?

In Greenville County owner can pull permit but a waiver must be signed saying the property will not be rented or sold within a certain number of years...Obviously, this doesn't work.  If you are licensed you can pull permits on your properties without issue.

@Amy Webber Let me know if you decide to back out of the deal.  I will give you $1000 if you decide to pass and I end up purchasing the deal.  Good luck to you.

@Derek Robinson, Keep us updated on how your Spartanburg Rental work out and what type of turnover rate you experience.  Do you or are you planning to rehab any of the units?

@Tyler Fletcher properties values in the area are very high and a lot of folks are willing to pay too much for properties.  You have to be very careful in this market.

Originally posted by @Chris Gillins:

Careful with the Michael Lush character, he's another GURU who wants you to send him money to get access to his special list of "HELOC" mortgage bankers. I found this to be a bit of a joke. Better strategy IMHO is to use a traditional HELOC on a property you already own to get access to capital needed to purchase additional rehab ready investments. Do your rehab, then refi and pull your cash out, paying off the HELOC and pocketing the diff.

 Haha....yeah.  I figure this out pretty quick.  I'll pass on Michael Lush and thanks for the heads up.

Originally posted by @Ivory Hayes:

If you're looking at a heloc you certainly want to know how to effectively use one. Check out the P.I.L.L. method on youtube. You can also find a guy named Michael Lush on youtube and he calls the method, "replacing your mortgage".  For me, a heloc works best for the type of investing I'm involved in. Different methods are right or wrong for different people, for different reasons. Understanding this repayment method when dealing with heloc's has been a game changer for me!

Prayerfully this assists you throughout your journey.

Happy Investing...

 I'll look him up.  Thanks.