All Forum Posts by: Russ Scheider

@simon o

The key to growth on Johns Island IMHO is the 526 extension.  Before switching to full-time investing, I worked a job that required me to commute from Mt. P to Johns Island.  45-60 minutes to go 16 miles.  I went in on a Sunday and it took 20 minutes.  The traffic gets worse every year.  Look up the 526 debate online.  Many people oppose it for environmentalist reasons.  Many people who have waterfront property or a marsh view will be looking at a highway bridge.   If/when the 526 extension is built, Johns Island will become less rural and more of a bedroom community, and I am guessing they will improve the schools as a result. 

Property values in Charleston are based on convenience to Downtown and to the beach as well as good public schools.  Johns Island is huge, so you could be 15 minutes from downtown or 45 minutes from downtown.  Johns Island schools are not great, and that is not likely to change until the population grows a bit.

I previously gave you some realtors to contact.  They will have insight for you as well.  

Hi Simon

Flood insurance requires a crystal ball right now.  We were all braced for rates to triple this year, until Maxine Waters backed off (look up the Biggert-Waters Act).  Hard to say what the future holds, but I suspect a change in administration in 2016 will keep the flood insurance wolves at bay.  I am betting on 10% annual increases in flood insurance - still substantial - but not crippling to the RE economy like 200% all at once. 

Johns Island is poised for growth, but my gut tells me that the benefits of that growth is 5-10 years away.  My wife and I bought in Mt. Pleasant because of the great public schools.  If you don't have children, or prefer private school, I would look at the West Oak Forest and Avondale areas of West Ashley and North of King/Meeting Street on the Peninsula.  These areas are growing at a rapid pace right now.

Hope this helps

Hi Kurt,

Thank you for your service.  We will welcome you to Charleston!  My wife and I are doing fix-and-flip and wholesaling properties that don't fit our narrow focus.  We do a lot of marketing and get quite a few calls from people who have duplexes to sell.  I will get a duplex or a quad under contract ASAP and wholesale it to you at a fair price.  We will be in touch.

Hi Patrick,

Welcome to the LowCountry and welcome to BP. I grew up in VA and attended JMU 100 years ago. My wife Natalie and I are full-time investors in the Tri-county area. If you will please send me a private message with your email address, I will keep you informed as we have wholesale properties for sale. We are focused on fix-and-flip and are wholesaling rental properties as we get them under contract. I saw your name and photo on MeetUp.com for the REIA meeting last Thursday, but did not see you there. Look forward to meeting you in person soon. Keep in touch

Hi Simon,

Patrick covered it pretty well.  I also moved to Mt. Pleasant with my family approx. 4 years ago.  PM me, and I can give you a couple of good realtors as well.  Some are good for seeking investment properties and others are better for helping find your private residence.  Mt. Pleasant residents are very welcoming.  Some of our new best friends are natives or long-term residents, and we have also met people who have relocated from the Northeast and from Seattle-area (Boeing).  There is a strong buy-and-hold market here.  The fix-and-flip market is extremely competitive, but there are always deals to be found.  Let us know when you make the move.  Always happy to help.

Charleston is a hot rental market. You may want to contact my friend, Jim Algar, at 843realestate.com (send me a private message and I will give you his phone number). He grew up in Mt. Plesant and is an energetic, experienced property manager. He can find tenants for your townhouse. Good Luck! I would also encourage you to attend the "Dealmaker's Meeting" of the Charleston REIA on Mondays if you can. Again, contact me for further details. I admire your efforts and wish you much success.

Hi Kelly,

My friend, Jim Algar, is an energetic, experienced property manager.  He and his family live in Mt. Pleasant.  You can send me a private message for his phone number or look him up on the web.  843realestate.com.  There are some local property managers here on the BP site as well.  Good Luck!  Let me know if I can help in any other way.

Welcome, Steven.  Congratulations on making one of the greatest cities in America your new home!!  I have a contract to buy a nice rental townhouse in North Charleston.  It is a great deal, but we are in a fix-and-flip mode right now and don't  want to keep any rentals.  Good cash flow, great terms.  I have a landlord friend who is likely to snatch this up from me on August 4 when I becomes available, but nothing is certain.  My wife and I are established investors in Charleston.  Please let me know if you would like more details on this property or others.  I know a good property manager and can offer an introduction.  Look forward to hearing from you.

Scott Winbigler & Sam Wilson There is a strong REIA in Charleston. Just Google "Charleston REIA". Meetings on Monday mornings and Thursday evenings. Also "Mastermind" calls on Sundays. Good group of people. My wife and I have flipped 6 houses in Charleston in the past year and are wholesaling as well. Let me know if you would like to learn more about our business or the REIA.

@Patrick H, we are Charleston investors rehabbing 12 houses this year and wholesaling others. We should discuss mutually beneficial opportunities!

Kudos on the rehab. Looks great!  Good numbers,too. Dealing with the BAR is a feat in itself. Would love to meet for lunch or coffee sometime. We live in Mt P.  Look forward to hearing from you.