All Forum Posts by: Shane Lafleur

Thanks Jeffrey. 

I received the tax info from Zillow. Interesting to know that there is a tax difference based on use.

The property is 1.5 Mi off the beach.

What would you say about the tax rate if the property was acquired as a 2nd HOME?

Do you think the property could still be a good investment from a rental standpoint during the summer season while still meeting requirements of 2nd home?

View report

*This link comes directly from our calculators, based on information input by the member who posted.

New to understanding how to analyze deals and new investor. 

My wife and I have been visiting the Myrtle Beach Area for over 10 years now and  we are thinking about starting off our real estate investing venture with a property in the North Myrtle Beach Area. Ideally we would buy the property as a second home, use private money from family and friends. Regardless i was searching around at the properties in the area and came across this property that I ran numbers on.

Most of the properties I run numbers on from the big property websites are mostly not deals, but this one seemed to work from first glance. I was heavy on the rehab costs as it looks newly renovated on majority of the property inside but could use newer fixtures and some flair. 

Let me know how the report looks?

what you would possible change?

Is this a deal?

#Raleigh #MyrtleBeach #NorthMyrtleBeach #Vacationrentals

Thanks,

Shane Lafleur

Hello, this may not be the most relevant post on this topic, but it was the first one I found. I would like to compound on this question. As I learned from family, friends, coworkers, and past landlords I knew very well, I was introduced to real estate ownership, but I never understood the scaling capability till one of my coworkers retired from his sales role at 32 years of age. This past year I was looking further on how to learn more about getting into this trade/community/mindset and I purchased the Guide to How to Invest in Real Estate book published by Bigger Pockets in Barnes & Noble at the beginning of this year. This lead me to the podcasts where I was hooked. As I am now engaging more on the Bigger Pockets website, my question (Sorry long winded) is what in your opinion is the best way to navigate through the extra information on BP? What blog posts and Forum posts to get a basics then depending on your path, what information you should know or is it simply get the book on flipping, wholesaling, BRRRR, etc?

For me, I would like to build wealth through scaling rental properties. However, I have little capital to jump in right away and I do not want to wait another 3-5 years for me to build capital. So I want to work with some friends that will help fund deals while I build sweat equity or focus on the management of the deal, if that even means giving up my equity on the first deal to just learn. But to further that to build a reserve so I can BRRRR on my own, I think it makes sense to Fix&Flip with partners till I have capital for future deals.

Thank you!

@Matt Polinchak

Thank you for sharing. As a newbie I’m interested in learning how others work their first deal as well.

Like I said I’m new, so my questions may seem wonky.

However, with that said, you noted roughly $27,000 for cash invested..

What was your down payment portion?

Was it considered an investment property, how did you get financing without needing more than 20% down?

What was your renovation budget?

Did you put all the cash in or did you have a partner in the deal?

Congrats as well! I’m hoping to get into the game shortly myself. Best!

@Ryan Casady

Do I need to be on the list to get in?

Thanks,

Shane L.

@Igor S. Following this post.

I would be interested.

@Desmond Dunn

For rental options, what are your thoughts about the Gardner area?

This seems to be an upcoming market with plenty of retail in the area, yet it is still in that 20-25 minute radius to downtown Raleigh.