All Forum Posts by: Lawrence Morgan

I’ve got my properties with Affinity Management. The first month and monthly fees are the same as you were quoted but I don’t pay an annual fee. 

Good advice from Casey, I didn’t know that on my first deal until closing. 

@Brand Seet like many are saying you will want to speak with your lender since it would be out of state. I don’t know your situation but for me personally I already had a primary residence and was then looking at doing a live in flip but couldn’t really find anything for what I was approved for. I was only gonna put 3.5% down. I decided to wait and instead used that as a 20% down payment in another state. The SC home I purchased I’m working off the rule of 1% and if the AL property works out it’ll be about 1.5%. 

One recommendation I would have is to find out how the taxes work for owners out of state in the county you are purchasing as I didn’t look much into that with my SC rental and it ended up cost me about $65/month. Since they charge a higher amount if you don’t live in the county. I didn’t realize that until late in the process. 

@Camrin Roczey I’ve been using a property manager. The first month was 50% then it’s been 10% a month since. They found and placed the tenants, any maintenance request they send to me for approval, they would allow me to to handle myself if I lived closer or get my own person. 

I had to do a few repairs and chose to buy new appliances upon purchasing it. Otherwise it was rent ready. I think turn keys are a good idea for out of state investing. 

I started earlier this year with a rental out in South Carolina and currently working on a small multi family down in Alabama. It definitely has its challenges but homes are a lot more affordable and will cash flow. I started by going into forums and seeing what people were saying. Then just reaching out to agents from there. I would say you’d want to check out the Midwest or the south eastern part of the country. 

If you could link me that’d be great

 That was the property manager’s suggestion. Originally we started at $1000

I currently have a 3bd, 1.5ba rental in West Columbia and have been struggling to get it rented out. It’s now listed at $950 are we over estimating the market area?

Curious to know when it’s too late to purchase a property that has an auction date. I noticed a property nearby me that has an auction date set for June. I was thinking of writing the owner a letter and try to make an offer but am I too late?

Hope I’m starting off in the right place. I found a property I’m interested in the Youngstown area. There isn’t a forum for that area and this seemed to be the closest area. But does anyone have an agent that they could recommend in the Youngstown area? I’m from out of the area and getting started on my journey so an agent that is investor friendly would be great.