All Forum Posts by: Jayson Hinkson

Thanks @Steven Loveless. Those are all good questions. I'm in the process of finding new deals if it sells. Just wondering if I'm making the right decision to list it for sale.  I don't know if there is a right or wrong answer for my situation.

I have a single family rental I have owned for over 3 years now. I have no issues finding tenants. It is currently vacant while I clean/repair for new tenants but I have added value over the years and think it is worth a lot more than I purchased it for. So the question is should I sell (get cash out for another deal) or continue to rent (not the greatest tenants in this area).So here is the deal breakdown….

Purchased in 2013 for $61K with 20% down. I currently owe $46K.I believe the ARV/potential sale price is around $90-95K. Potential profit of around $40K that I could 1031 exchange.

As far the rental information goes….The payment is $374 per month plus $16 trash included = $390 total per month. It was rented in the past for $900 so a net of around $500 per month. There shouldn’t be any further repairs/upgrades needed….New roof 2014, new HVAC 2014, new hot water heater 2013, new appliances 2014, new doors 2016, new bathroom 2016, septic tank line replaced and tank pumped 2016.

Just looking for guidance on whether I should hold or sell….Thanks in advance!

Hi Cathy,

Welcome! I am from Aiken as well.  I currently have 2 rental properties in Aiken. 

I would love to link up and discuss the local real estate market and the appraisal business.

Best, Jayson

Thanks @Troy Gandee

Thanks @Korey Rademacher that is my next step once I get my next property.

My sister is a loan originator in Pensacola.  Look her up at Trident home loans, Ashlee Warner is her name.

Thanks @Russell Brazil  I spoke with a local Agent and they said it would be fine to just google a SC purchase & sale agreement and use that.

Thanks!

Quick question...I am selling my investment property FSBO. I need to provide the buyers with a South Carolina purchase & sale agreement in order for them to submit an offer? I have had a few showings with buyers agents and few people without agents. I would assume I only need to provide this document to buyers without agents? Please advise. If anyone has a sample SC purchase & sale agreement that would be great too!

@Jesse Waters its a 3/2 could easily convert to a 4bed. Near USC Aiken and Aiken Regional. Has great rental history but I am cleaning it up to sell.  It is completely updated and the list price will be $104,500.

@Ethan Epps mostly tract builders here as well...with a few high end specialty builders.  A ton of handymen doing renovations and additions.  I have one working on my rental now....haha.  He is licensed though.  The market in Aiken is a little funky so we have taken our search to outside the city.  We are working on a deal in a new neighborhood in North Augusta for 5 lots out of the 20 available.

Congrats @Ethan Epps... Clemson Tiger here!  I'm in the Aiken, SC area looking for multifamily and rehabs.  Also working with a GC now to purchase some lots to build residential.

Good Luck,

Jayson

P.S. Hey @Jayson H. kind of a weird coincidence.