All Forum Posts by: Ron T.

That property is a tired dog thats been kicked around for far too long.

 It is also a classic case of the metrics not telling the whole story, without some additional digging.

Spartanburg and Greenville counties are on fire, everyone knows this. However Spartanburg is growing TOWARDS Greenville, not this direction. 

Pacolet, Jonesville, Union, Lockhart these areas are dieing on the vine. There isnt substantial employment within a 30 minute drive. The schools are below sub-par, even for SC. Heck in one case (Lockhart) the state actually shut the high school down and buses kids up to 30 miles to a high school it was so sub par. For the state last in the nation in education that is saying something.

The only people who live in these areas are those born there with no vision to escape or some upper middle class folks looking to acquire acerage and rural areas.

If your goal is to own a property to attract the worst tenants in a very small and undemanded area then this is a great property.

I hope I am not being too vague in my opinion here. Lol. 

Your property tax will nearly triple if you dont live there.

The assessment goes from 4% to 6% for non owner occupied and Greenville county charges and additional mills in certain districts.

I'd budget $2,100 MINIMUM for prop tax

Upvote for a fellow Tiger!

Feel free to connect with me and lets chat. I own 2 properties in Clemson and may be interested in more...

Clemson is a bit sketchy of a market for Student Housing right now. The University is in full on assault mode building 1,000 doors of high end student housing and implementing policies to encourage students to stay on campus.

Not saying there isnt still a play, just that the game is changing.

I'm in SC and invest in Spartanburg county and looking at Greenville as well.

Sounds sketchy that you have to buy 10 in 90 days.

In SC each county only holds tax auctions/sales 1x per year. As far as I know all are in October/November.

The house not being on the market isn't a red flag, to me. In fact in many states once a couple is legally separated they can not sell off any joint property until after the divorce decree and material asset distribution is ruled by the judge.

Regardless, even getting that deep into the conversation is all into the murky grey Fair Housing protected class area. I will say this, I like stable tenants. Divorce by its very nature is destabilizing...you do what you think is best.

You might want a lawyer.

There is specific federal legislation around leases and active duty military who get a change of location or MOP. By marrying him she might trigger her qualifications for this. I am not a lawyer, so not sure there.

But I never want a tenant who doesnt want to be there. The way I manage and present my properties they always rent easy or I get them out of my portfolio. I'd tip my cap, congratulate them on the pending marriage and move on. 

Just think it through. If one marries and moves off and you force the other to stay, she likely cant pay the bills. Your property will suffer and you probably struggle to collect rent if you do at all, and end in an eviction. Move them out while its in good shape and this isnt a bad time of year to be looking for a tenant either.

I'm actually in the same boat right now but on a slightly smaller portfolio (12 houses).

The first question is this, is the package available to purchase separately or is it all or nothing? If the owner wont break it up then you first have to analyze the deal as a package.

Thee next step is figuring out your exit strategy. If you dont intend to hold all 20, then you have to run the number for what you will hold and what you will divest. Remembering to take into account any divesting costs, and subtract it from the positive of the helds. Dont forget transactional costs as well here. Plus tax considerations for short term holds etc.

If your checklist says to fill and patch holes then they have have written proof that you expect holes in the walls and they did what was asked.

Are we talking 5-10 picture nail holes or are we talking fist through the wall patch holes?

If its picture hanging nails, dont sweat the small stuff. Give them their deposit and thank them for being a GREAT tenant and ask them to send you all their like minded friends who take care of property.