All Forum Posts by: Krista Dunn

@Alexander Felice

Thank you so much for the feedback!  I just looked over the listing again and noticed no HVAC...oy!  That's a game changer here in the South and that alone would probably take the entire rehab budget!? 

I agree on the overly optimistic refinance rate, too.  Yes, it is local to me and I have feelers out with others on the area to confirm my numbers.  Yep, it's interest only payments. 

Clearly, I need to pay more attention to specifics...smh. And definitely be solid on the ARV and rehab costs.
Thanks, again.

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Boom!

@Chad Whittaker - thanks so much for the breakdown and example. Definitely makes buy and holds less appealing and the need to be very strategic with timing of flips and the tax year. This is just another thing to factor into the numbers and if it all makes sense then great but definitely a 3x factor to keep on the forefront...because there’s not enough spinning plates, right?Bahaha!

@Tim Melton - thanks for the rule of thumb!

@Jared Wonders - awesome, thanks so much for the info!

@Andrew R. Lucas - Thank you so much for the detailed breakdown involving the millage rate/discount. I knew the millage rate related to the school tax but I didn’t realize it involved a rate and a discount so thanks for the clarification. 

@Adam Odom - Wow!  That’s a huge jump!  Thanks for the mention of “millage” info. I was just able to find more online about York Co millage rates and additional examples. 

@Johnny Situ - Thank you for the example!

Looking for some clarity on South Carolina "investment" property tax, which I believe is 6% (and primary residence is taxed at 4%)...  Today someone told me to expect the property taxes on an investment property in SC to be 60% higher and I'm still trying to understand exactly what that means?  Hopefully what I'm trying to ask makes sense to someone out there...while I wait to hear back from my tax advisor.

Any help or insight is greatly appreciated.  Many thanks in advance!