All Forum Posts by: Paulus Anglada

@Luke Carl, would you mind sharing that spreadsheet with the list of items you buy for your STRs? I'm in the process of furnishing my first STR, and it seems like there's always one more thing that I need to add to my list. :)

@Lance Rogers, you need to find a bank willing to do an in-house loan. I had luck in the past with AgSouth in Rock Hill. I got an in-house loan at 7% because my home was somewhat unique, and then converted to a lower interest Fannie Mae/Freddie Mac after some remodeling. In-house loans will sometimes require a more in-dept appraisal... but you should still be able to appraise it, no matter how unique it is. It may not appraise at what you think it's worth, but you should still be able to get an appraisal. :)

Hey @Rod Joseph, we have a few rentals in Rock Hill, SC. We rented our first property with W/D included. Unfortunately our tenant didn't take good care of the property and got the dryer broken a couple of times. After researching the local for SFH and small MFH, and noticing that most didn't include it, we stopped ofering W/D in our rentals, and kept the same rental prices without issues. I hope this helps.

@Cliff T. Look into zoning. I was hoping to do the same thing here Rock Hill, SC area, but it's hard to find land that would allow for that. You might want to talk to a few commercial brokers to see what kind of land is available in the area, and price points. 

Congrats @Anna Buffkin! Glad to see you killing it in Columbia. Like @John Hovanec I like to stay in a 30 min radius from home (just outside of Rock Hill, SC), but I know I need to start buying in the Columbia market. Prices make a lot more sense than Charlotte market.

Welcome back to BP @Zachary Betters! I would love to learn more about what type of homes you're flipping, and about your overall strategy.

@Cindy Hurtado You can't base your estimate off of the tax history in SC. As @David Chwaszczewski said there's a big difference in mileage/rate for primary resident vs investors. The tax for the same house in Rock Hill will be $600 for primary resident, and $2000 for investor. Not only the taxable rate goes up from 4% to 6%, but the school taxes are higher for non-occupant. It's kind of crazy, but as long as you account for that in your estimate, you should be fine. Since inventory is pretty low here, I'm also looking into the Columbia, SC market. About an hour from Rock Hill, good rents, and a lot more inventory. Feel free to PM me if you have additional questions.

Congrats @Anna Buffkin and good luck on the renovation!

That's right @Ron Read, and I'm sure I could sell a few of those to investors interested in house-hacking, since they can finance it with FHA (up to 4 units) at 3.5% down. Not a bad deal. Maybe sell a couple and keep every 3rd building in my portfolio? Need to look for land now. Do you know any good land brokers in this area?

Great analysis @Ron Read. I can still find a few deals (a lot less than 2-5 years ago) in the outskirts of the greater Charlotte area (York, Gastonia, Clover, Lancaster and west Rock Hill), but no way to compete with the big boys in Charlotte, FortMill, Pineville. I'm waiting for the market to correct, and considering building 4-plexes in the outskirt areas mentioned above. Cost to build is going up, but I think it still makes sense to build in this areas.