All Forum Posts by: Orchid Djahangirian

Thank you @Joseph Bui and @Francelia Roberts! Appreciate it

Thank you all for your insightful responses; I hope you all had a great holiday!

@Mike Klarman have you had issues with getting a conventional loan under an LLC? I think having an LLC is a great idea, but I have heard it makes it difficult to get conventional loans.

@Heath Sizick I would love to have a STR on the coast one day, I will keep you in my contacts for sure.

@Ko Kashiwagi I was thinking the same with multi-family.

@Laura Shinkle thank you for the clarification! I agree with you with holding the property.

Wow thank you @Michael J. and @Arn Cenedella, I appreciate all that really helpful information!

@John Underwood, I will definitely be planning to make it to those meetings as soon as I can, thank you!

Thank you @Brittany Minocchi, much appreciated!

Thank you @Brandon Jones for the recommendation. I will definitely plan on making it to some of those!

What do you mean by off-market? Deals that are found through MLS via an agent?

Thank you @Nick Belsky! I will definitely be keeping your contact for the future DSCR loans.

Orchid

Thank you @Julio Gonzalez!

Hi BP members!

Im new to the community and to REI. Im excited to get started and so grateful for your existence!

Background:

Im a urologist from Canada. Met my husband in 2015 in SoCal and he moved back to Canada with me. In 2023, we made the decision to move to USA and chose NC for many reasons, Mooresville specifically, as my husband is a mechanic and doing classic auto restorations.

The immigration process has been brutally long as I am still waiting for my visa to be able to officially immigrate and work. I have nonetheless interviewed for work and just signed an offer in Greenville SC.

Present day:

I have money saved up in Canada and have been reading books, found BP and listening to podcasts, reading forums. I am ready to start investing but not really sure if I even can at this point; not yet having a legal status in US and not started my W2 job yet, I don’t think I could get a typical mortgage.

I wanted the opinion of experienced locals to plan things out. My husband is currently renting an apartment, for which the lease expires in a few months. We wanted to buy a house in need of some cosmetic rehab in Mooresville to live in for now, as we will need to relocate, whenever I can start work, to Greenville SC. We would fix this house up as a flip and this would be our first investment. However, being less than 2 years, we would have to pay capital gain?

If we then buy a place in Greenville SC to live in ourselves, would we be able to use 1031 exchange to differ taxes? If not, we would just hold and rent the Mooresville house.

I’ve been watching the trends on Zillow over some time now and it seems to me that the 1% rule is a thing of the past, like I just missed that boat. When you compare what houses are going for in both Mooresville NC and Greenville SC and what they rent for, it may make 0.5%. And I just learned about the non occupancy tax in SC at 6% by reading through forums… is this for real!? The tax would come to what you collect for the rent! So how does one cashflow with these prices?? I want to invest with a 10-yr horizon in mind, understanding holding an asset that appreciates, while someone else pays down your mortgage, but that is if you at least break even! I am not seeing how that is possible when you factor that 6% tax in; and yet Greenville is a popular place to invest…am I missing something???

Are Mooresville NC and Greenville SC still good places to invest?

Are there local groups/meetings in both these places where I can meet like-minded people?

Any suggestions for an investor-friendly real estate agent and tax specialist/CPA in both these places? Any good lenders you work with?

Having the insight from people in the area who have already done this would be greatly appreciated!!

Orchid