All Forum Posts by: Joanna Gossett

Ron is correct. Non owner occupied homes are taxed at 6% instead of 4%. Looks like a good deal to me. I would factor in about a 10% vacancy, as well just to get a more accurate overall picture of the cash flow. Did you run any comparable properties in the area? Realtor.com is a good app to see recently sold.

Alan Vander Schouw Greenville has a very active REIA. Monthly meeting is tomorrow night (Monday 6/20) at 6pm in Greenville at the Hilton on Orchard Dr. You can find out more on the Upstate CREIA website. http://upstatecreia.com

Credibility. You can provide link for your tenants to pay their rent online as well from your landing page. Not a necessity by any means but depending on your tenant population, websites help them feel like their dealing with a legitimate professional vs a person.

Ken Boone nice to "meet" you! I would definitely love your agents information. I can't figure out how to message you, as it says your contact information is hidden and I can't find you in members to request a colleague connection. Can you contact me?

@Michael Schwob each company is different, but for an entry level leasing representative position you typically do not need a license. 

Michael Schwob you could look into a Leasing Rep position with a multifamily management company. Would get you some exposure to property management firms, build your knowledge on leading/marketing/sales, dealing with tenants,analyzing comps, etc. but would be multifamily focused vs single family. Guess the question back to you is, what exactly do you want to learn? What areas of real estate are you looking to invest in the future?

Trevon Peracca have you looked into getting a personal (or business) line of credit? I'm not sure if the lender would allow, but you can use a line of credit the same way you would cash. Not sure what the long term play is- buy and hold or rehab/sell, but a line of credit could be worth looking at if you're only holding short term.

I've never purchased a property from Hubzu, but my understanding is that you can find all of those properties on any other sites that pull from the MLS. It simply gives you only the foreclosed properties. However they all show up on MLS, too as they're required to be listed by a real estate agent (at least that's how it is here in SC if I'm not mistaken)

@JD Martin thank you! I get analysis paralysis sometimes so appreciate the brief rough estimate breakdown you gave.   Sounds like we need to find a good insurance agent that can give us quotes regularly. We have not bought our first investment property yet- just getting all our ducks in a row with contractors, financing, etc. so when that right deal comes along we can make it happen. Thank you so much for taking the time to provide your insight! Much appreciated. 

@Mindy Jensen thanks for the input- you're right on with needing to feel comfortable. I just hate the thought of such a long term mortgage but no prepayment penalties mean we can pay it off whenever we want- so guess it makes sense to obligate ourselves to less should unforeseen circumstances arise (which they will- such is life). Thanks!