All Forum Posts by: Michael Margarella

@Sean Bayliss Hi Sean. I bought my first condo in Myrtle Beach in March and it’s been renting out great. I’m actually just about to start managing someone else’s condo in North Myrtle Beach next month too. The key thing I’ve found is understanding your numbers. A lot of places will have gross rental numbers available if you ask, so that’s a good starting point for projecting everything. I have a homemade spreadsheet I use for projecting the return on a property that I could share if you want. If you’re going to want to manage it yourself, I’d recommend David Greene’s Long Distance Real Estate Investing book if you haven’t read it. My property is at denningproperties.com if you want to take a look. I updated mine a bit which I highly recommend for standing out.

This seems to be the only active Terre Haute thread. I would love to start partnering and coordinating our efforts here. I'm sure most folks in TH are looking to BRRRR. We could reduce our risk if we worked together and targeted specific blocks within the avenues. Go block by block and try to make the sections at least that we buy on desirable for renters.

My partner and I are eagerly awaiting our refi post current Reno project, but within a month or two should have access to enough capital to tackle 2 houses.

Thoughts?