All Forum Posts by: Jesus Sosa

Yeah, I am leaning more toward the formation of an LLC. For protection purposes, especially since this property has been purchased cash no leverage at all - yet. After seasoning, I am planning to cash-out refinance; however, the con of this is that most banks don't necessarily like lending to LLC's/Corps. They mostly lend only to properties in your personal name.

Those of you who invest in Greenville, how do you find you’re deals? Off market or networking. Reason I ask is because I Haven’t had much luck finding them using online portals (Zillow, Redfin, etc).

I’m currently driving for dollars and have been for some time now but no luck yet. Haven’t given up though and won’t plan to anytime soon.

@Guillermo Kennedy What part of SC is the land your seller is motivated to sell? I am currently having the exact issue here in Greenville. However this is a SFH. I'm currently working with an attorney to fix the title via Quiet Title Action. Happy to help anyway possible. Much luck.

100%, totally agree with all the comments on this thread. South Carolina’s population has grown an average of 1.25% each year for the past 5 years. It’s currently SC’s 6th largest city and will continue go grow without a doubt. Median home values are $273,100 and median rental cost are $937/month according to “world population review.”

Additionally, I was raised here. As a Latino it’s become more diverse and community-like. I haven’t had any issues or problems interacting or even meeting new people from different cultures. I enjoy the area very much and will continue to live here.

References: https://worldpopulationreview.com/us-cities/greenville-sc-population

Currently, under the process of a quiet title of a SFH here in the state of South Carolina. I know it will need a lot of work to get it rent-ready and later cash-out refinance it. My concern is, whether or not to form an LLC for the tax write-offs since the cost of rehab will be significant. Or, on the other hand, should rehab be paid cash only on the first investment property?

Note: Plan to hire contractors that can provide proof of insurance, W9, and business license to properly file those expenses. The quiet title action would possibly take a month 1/2 to get completed. 

Thanks in advance!