All Forum Posts by: Paul Lowder

Hello BP!  I'm curious if something like the following exists:  a contract contingency that would essentially make the wholesale fee fixed.  For example, say the seller and I signed for a purchase price of $50k to go to the seller, but if the assignor can assign the contract for anything over $60k, the excess would go to the seller on close.  I know this sounds silly from an investor standpoint since as investors we are actively looking to make as much as possible.  However, I'm dealing with a seller who I think would appreciate some goodwill in this fashion.  If anyone has heard of or done anything like this before, I would appreciate any info!

@Jaron Walling, thanks for the advice!  I'll certainly be diving deeper into the forums, and also check out the LinkedIn Learning Page.

@Joshua Noth, my main concern is with affording the 15% DP that comes with a conventional loan on a duplex. With that in mind, my alternatives seem to be FHA, find a partner, or just save until I feel I'm in a comfortable range to afford the DP. Either way your note has helped me clearly see the options in front of me. Thanks!

@Ryan Copeland, @Jaclyn Brith - Thank you for the inputs. It's funny that you two mention it, I was actually at the most recent REI event as well! I hope to see you at future events.

Hi Jaclyn/Brandon, I don't mean to hijack this post, but I am a new investor in the Columbia, SC area as well, and I had a question regarding those ratio designations.  So if you have a property you occupy that appraises at $100,000, that means your annual taxes owed are $4,000?  Is how I'm thinking this works correct?

Furthermore, is this all paid at once or are there options to spread it out on a shorter basis, such as monthly?  If you read this, thank you for the time!

Hi everyone!  I am new, and looking for my first deal.  Along the way, I've started to pick up some of the lingo and structure of what goes into financing a deal.  However, I'm looking to broaden my horizons, and I'm curious, to those who have a solid understanding of the financial side, how did you learn about it best?

I realize that probably the best way to gain this knowledge is with consistent experience.  However, I'm not there yet, so I'm looking more for suggestions such as youtube channels, podcasts, forums, people to speak to, etc.  Any and all advice is much appreciated!

Hello BP!  I'm looking for a duplex in the Columbia, SC area and I'm struggling with figuring out the financing.  This would be my first deal, and a primary residence loan with potential for renovation included.  My biggest concern is with affording the down payment combined with any closing costs or fees that come along the way.

I've been speaking to a few different loan officers, and the consensus seems to be that conventional loan programs for a duplex property type require at least 15% down. I know there is FHA available, but I'm not confident I could secure a deal that's in my price range with FHA financing in the current market. Too many places still going quick with cash or cash-like offers in the Cola area(as I'm sure in many places still).

Anyways, I was curious if anyone is aware of or has used any low DP options for duplex property type homes in South Carolina.  Any and all advice/comments are appreciated!

Hi BiggerPockets, I am looking to begin a real estate portfolio in the Columbia, South Carolina area in 2022.  I am a newbie who does not own a single unit.  I am a 25 year old who currently lives in Charlotte, North Carolina.  However, I plan to move down to Columbia mid/late 2022.  Ideally, my first property would be a duplex(or other form of small multi-family) that I can house hack and renovate to use as a spring board to future properties.

After my first property, I want to build a portfolio of rental properties that includes single-family and small multi-family.  I'm certainly open to properties that might need renovation as well.  The areas I've been considering include Cayce, West Columbia, Earlewood, Olympia Mill Village, Pinehurst, and Forest Acres.  Right now, my goal is to buy 3-5 of these property types per year.

All that aside, the first thing I'd like to do is start meeting those who are familiar with the market.  So any and all input is welcome and appreciated!  RE agents, investors of all levels and niches, contractors, lenders, or property managers, I look forward to hearing from you!  Thanks and Happy New Year!

Hi all, I'm a big newbie who is looking to buy my first property in Columbia, SC in 2022. I was planning on driving to find a place that I could BRRR and potentially house-hack with. However, I just learned that SC has a law against commercial solicitation. This means that finding contact information through public tax information with intention to solicit a sale is illegal.

I'm certainly aware that I could choose to invest somewhere else that does not have this restrictions, however, Columbia will be my home for a while, and I know the area somewhat well.  I've heard of other strategies that funnel deals to you, such as building your own website, but this seems like a lot of work for someone like me who is only looking for their first deal.  That might just be a limiting belief, but regardless, I'm curious how others have dealt with this problem.  Any insight is much appreciated!