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All Forum Posts by: John Weir

John Weir has started 25 posts and replied 121 times.

Post: Upstate SC

John WeirPosted
  • Contractor
  • Greenville, SC
  • Posts 129
  • Votes 25
Originally posted by @Chris C.:

@John Weir  Feel free to contact me.  I am nothing special but do have a rental portfolio and have been successful with my flips.  I enjoy talking real estate so maybe we both could learn something.

 Thanks Chris! The real estate company I work for does some work in Greenville, SC. I'm looking at getting into some flips there and also Anderson, SC. Both seem to be good markets to me. I'd love to meet up with you for lunch one day and talk about some of your success up there! 

Post: High end real estate

John WeirPosted
  • Contractor
  • Greenville, SC
  • Posts 129
  • Votes 25

I'm a young real estate agent (20) and haven't been in the field long. I eventually want to get into high end luxury real estate. I've had my license almost a year and have helped my grandpa in some flips and manage all his rental properties in upstate SC. I was wondering what was the best high end market in the south east U.S. that I should look at getting into? I know I still have some learning and experience to gain but I would like to get an input on what market I should start looking at and networking with? 

Post: Financing Rentals???

John WeirPosted
  • Contractor
  • Greenville, SC
  • Posts 129
  • Votes 25

Trying to decide if I should go ahead and buy this rental property? I would have to finance though but there would still be +$250/month cash flow even after mortgage and expenses (rough estimate on some stuff). Seeing if this is a good idea??

Post: Upstate SC

John WeirPosted
  • Contractor
  • Greenville, SC
  • Posts 129
  • Votes 25

Looking for a seasoned real estate investor in the upstate area of South Carolina. Looking for a mentor and reliable source to help me as I am starting out. Someone who might have some good pointers and be there if I ever need some advice on a property. I am also a real estate agent so if anyone in upstate SC needs a real estate agent also let me know!

Post: Rental property

John WeirPosted
  • Contractor
  • Greenville, SC
  • Posts 129
  • Votes 25
Originally posted by @James Wise:

A good place to start is the 50% rule.

A house rents for $1,000 just go ahead and assume it's going to cost an average of $500 per month to operate it. Vacancy, Property management, repairs, maintenance, CapEx, non payment, taxes, insurance.

Is this spot on for every house? No. We cannot predict the specific performance of any rental house but it is pretty accurate estimation of how rental homes generally perform.

That's kind of what I've been going by. The house rents for about $750-$800. But I think I can get the house for $40,000-$45,000, and it's in a good neighborhood with comps around $70-80k.

Post: Rental property

John WeirPosted
  • Contractor
  • Greenville, SC
  • Posts 129
  • Votes 25

Thanks @Florian N. I'll take a look.

Post: New member from Bluffton Sc

John WeirPosted
  • Contractor
  • Greenville, SC
  • Posts 129
  • Votes 25
Welcome to BP. I live in Greenwood, SC. We have a rental property down in Beaufort. I let you know if I come across any deals up here in the upstate!

Post: Rental property

John WeirPosted
  • Contractor
  • Greenville, SC
  • Posts 129
  • Votes 25
Trying to figure out a good formula to use when buying a rental property? I know income-expenses. But what are some other expenses or things I should consider or look out for?

Post: Rental property

John WeirPosted
  • Contractor
  • Greenville, SC
  • Posts 129
  • Votes 25

Thanks! I'll take a look.

Post: Rental property

John WeirPosted
  • Contractor
  • Greenville, SC
  • Posts 129
  • Votes 25

Hi, I posted yesterday about a rental property I was wanting to purchase because I thought it was a good deal. However, due to my money being tied up with a rehab project I will not have a down payment or much of one. Does anyone have any good ideas on how to get the property with no money down if I'm going to be using it as a rental property?