All Forum Posts by: Morgan Eriksson

i get one of those mechanical lock boxes from masterlock and mount it to a post or the deck, in the event that the smartlock fails i can get them a phsyical key from the lockbox by giving them that code. Someone mentioned the kwikset locks... I 100% recommend those and I usually use their "halo" line for smart locks, however i'm about to start testing the yale locks that partnerned with google. 

I think we're all missing something here with the buy cash model and probably what Zachary is trying to achieve. what if he's trying to achieve security and there is nothing wrong at all with buying a property cash and generating cashflow (security) so that he can retire. I think we all get sold a dogma listening to podcasts and attending seminars and meetups that we need 100's of doors, when in reality we really need 5 paid off houses generating at least 1k a month in rent each. I don't know the midwest market, but say Zach has 500k sitting around and can find a rental property for 100k turn key that generates 1k a month in rent. Let's say 20% goes to expenses and management, so he makes 48k a year... now, lets say Zach now doesn't want to fully retire, maybe he has a pasion project that also earns him income. He now has a "base salary" of 48k from his rentals. How many financed deals at a 12% cash on cash return would it take to generate that 48K after all expenses? How long would it take if you had amazing deal flow? How long would it take if your deal flow sucked...  So I think we need to not crap on people that go in all cash With no intention of financing... Real estate is an amazing tool... just like an axe that can be used to cut a tree, it can also be used in self defense, or to carve a canoe out of log.

I like Batch skip tracing for skip tracing, i would just used propstream for list pulling/creastion

while I do not have any medium term rentals, I'm looking for one. I recently met a couple selling a 5 bedroom home with a detached apartment in Clinton SC... If you don't know there isn't much going on there except for a small private college, and a small battery factory, it's a dorment market in my opinion.... the point is they were clearing 5k a month in net cash flow. They rented it out by the bedroom to traveling nurses on furnished finder. At the time I had a small rental in greer that should have rented for 1,400 a month and I had signed a agreement with my property manager to rent it, but they sent me a prospective tentat that wanted a 9 month rent, house furnished for 2k a month... So needless to say there is demand for it for traveling nurses. I've also seen demand for clients relocating to my market needing a place to stay while they find a home or build one. 

I'm not a fan of keeping it seperate. We tried it, and ultimatley went back to one back account. If you have seperate LLC's for different properties then it makes sense, but ultimateley we did just one account then have the financials of every property managed in buildium

If you want appreciation the south will be solid for many decades, I live in the upstate of SC and it's booming ( just like a lot of places) but one thing the south doesn't have compared to other markets is small Multi-Family. I have a lot of clients that intend to move here and buy a multi-family to house hack but they never believe me when there is no inventory of them, and it simply because the south didn't need multi-family housing till recently...  so if you want to hack a small multi-family specifically, I would focus on the midwest but you're going to lose the amazing weather, and you might not have the most appreciation. Two markets that have peaked my interested recently are pittsburgh and louisville. 

@Nicole W. I did one of the liners for my sewer line which ran right under a very large oak tree… I was quoted 28k to replace the pipe, or 7k to do a liner.

@Michael Lewicki the people telling you to stay away are likely some of the few natives that hate to see all the change or additional competition for the deals out there….. OR because it’s really getting priced out of feasibility for investing in on market deals, and the off market deals are going straight to the hedge funds… it’s a fantastic city though. The markets around Greenville, at least for cash flow make more sense.

Greenville is Awesome. The challenge is, it is extremely hard to find deals most the wholesalers here are now working directly with hedge funds willing to overpay for anything. I'm sure Huntsville is similar. I would look at both and write offers in both markets till you find a deal that works. 

Nice! i'm a big fan of the upstate of SC in general. Greenville is awesome in my opinon but needs a more advanced investor in the urban areas to be successful,  cash flow is getting harder and harder to find, so the real strategy is getting land, subdividing, rezoning, and building or take the risk of Airbnb. The suburbs and adjancent markets can be fantastic, like Greer, fountain inn, simpsonville, mauldin, easley, piedmont etc. if you have specific questions feel free to connect, i'm born and raised greenville.