All Forum Posts by: Mike Morrell

 Well - my thought was that if I built decent homes, and charged a premium, that I would have more control - it would be easier to manage - and ideally, I'd like to get long term renters.  That last reason is why I'm leaning duplex - thinking that someone who could get into a brand new 3/2 with a garage on a 1/2 acre might like to stay a while.

I'm not planning to sell.  It is adjacent to my personal land so rather than just selling for a one time influx of cash, my thinking was long term rental income that is convenient to manage.  

I'm not certain that I understand the question though - if by ARV you mean the value after built, it would be the quad.

I purchased some land last year in Rock Hill, SC that I am building my personal home on, and I was also able to subdivide off 4 one acre lots. The zoning on these lots allows for SFH, Duplex, Tri, or Quad and I was thinking about building to rent. I've got a blank slate here and just looking for some guidance. I'll have city water, but I'll have to put in a septic. My initial thought is quadplexes - more doors, lower $/door to build, more rental income.

Is there anything that I'm not considering?

Welcome!

I think the market is huge for small multifamily. If you're building, I may be an investor.  Land is getting really challenging to find at a decent price.

It's comparable.  I'm a real estate agent and we work the Greater Charlotte area, Fort Mill, SC butts up against Charlotte, NC, so it's basically the same market.

 I currently live in Fort Mill and invest in Fort Mill/Tega Cay/Rock Hill/Lake Wylie.  Taxes are the biggest challenging with investing in SC - the investor tax rate is about triple the primary residence rate - but the rental rates take that into account and there is a serious dearth of rentals in this market.  Finding deals may be challenging in the current strong sellers market, but if you can find them, it's a fantastic area to own real estate due to the fabulous school system and proximity to the airport/Charlotte.

Hope this helps!

Rock Hill is a great place to invest, the city itself has been dumping a ton of money into infrastructure, Riverwalk has a ton to offer with the velodrome and bmx track, Old Town Rock Hill has seen a resurgence as of late with lots of businesses coming to the area.  It's all upside in Rock Hill from my perspective, with the only challenge being the public school system, but that's improving.  Let me know if you'd like to get together for a cup of coffee and we'll brainstorm on opportunities if you'd like to!

Geez - it starts in 30 mins and I just saw it.  Anyone know when the next is?