All Forum Posts by: Jade S.

@Josh Stack

My answers:

1. Yes in Greenville Greer, SC area.
2. Definitely cash flow generators. There has also been a huge amount of gentrification downtown Greenville. Several properties are now in 200k neighborhoods and people are building new houses in area I never would have imagined.
3. I have so many of these now that I have cash to take care of a roof or an HVAC unit without breaking the bank.
4. Well this is constantly changing as land down town is becoming so valuable. If I can get $700/month rent and it doesn't need to be torn down and the price is right then I am interested, Most of my deals pay for them selves in less than 5 years.I still avoid a war zone, but those are going away as gentrification changes the landscape.
5. Controlling expenses and training new tenants. Tenants will take advantage of you if you let them.
6. I convert mine to central HVAC, new flooring (no carpet), new paint, new kitchen. Some tenants have told me my house is the nicest place they have ever lived.
7. I treat them fairly and maintain my houses. I have many long term tenants now. Proper background checks upfront help weed out the bad tenants early.
8. I have been paying cash for my houses and have built a portfolio up over time.
9. Absolutely!
10. I have sold a couple of my lower end properties and traded up. I only did this because someone approached me with cash that wanted them more than I did.

Hi @Jade S. Thanks for the welcome.  Harlem is interesting.  I can see it growing in the future with the gate as well.  Have you seen any developers present plans yet for development in the area?  I am not plugged in to those things yet, but am planning to monitor both Harlem and Thompson for new development proposals.  Both have plenty of land potential, since they are off of I-20.

Jade, thank you for the response! Sometimes the simplest responses are perfect and I appreciate the feedback! Continuing on the question for you personally, Do you have all your rent checks mailed directly to you or do you do electronic payments?

@Account Closed that you should buy somewhere where the cost of the land is high. That way even if the tenant you have in there doesn't work out you can usually always replace them. Also that keeps them from moving two blocks down and rebuilding a new location at the end of the lease. I've seen two dollar stores do that recently. They just have a shell metal building so it's not all that expensive for them to move and rebuild.

Also, find a metro area that has very high population and job growth then find out which directions they are growing (usually easy to see by where there's a lot of construction). Then buy in their path of progress or just outside of it. That should help the price of your dirt increase over time.

For tenants, I like to look for things like services, restaurants or entertainment that are more 'internet resistant'. If it's just a retailer selling some commodity good like books, electronics, or clothing beware. They can be ok if they find a good niche but definitely riskier.

Also, it sounds like you're only looking at Single-Tenant properties? Let me suggest a smaller multi-tenant property like a strip center or office building with multiple suites or even mixed use. Why? To me it's much less risky that way. You can stagger the leases, handle some vacancy, etc.

Just some things I've been thinking through but of course a lot of it depends on your personal situation.

I would at least post sign that you are responsible for person trespassing on the property.  

Not fool proof, but might stop someone from trying to go after you