All Forum Posts by: Sean Woods

Dave,

Thank you! My plans have since changed so now I will not be needing one. However, I am glad to have another contact in the local area!

Thanks again!

 Thank you for the recommendation, Kris!

Hello,

I am curious about everyone's recommendations on property management companies that work in Charleston. I have a single-family home that will need attention soon. After that, from what I understand, a good PMC can become an asset in finding future investment properties. Is this true? 

Thank you for your time!

-Sean

Hello,

I am looking to connect with some local Charleston area property developers. I have a billion questions on what it takes to build a new multi-unit locally. 

Thank you!

-Sean

Hello Everyone!

I have been doing some research on using my VA Loan to build a property rather than purchase one. Has anyone seen this done successfully? It is my hope to partner up with a local developer here in the Charleston, SC area to build me a 4 unit apartment. Is this a crazy idea? Too much for a first investment?

Any input is welcome and appreciated.

Thank you!

-Sean

@Patricia Steiner,

Thank you so much! Your information was clear and to the point. This makes a whole lot of sense. I am ashamed I didn't see it earlier. 

@Devin D.,

I agree with you. The last thing I need right now is another liability. The problem with bringing the money back up here from Brazil is the exchange rate. It might make more sense to keep the money there but invest in a multi-family. My wife is from there so it will be a little easier than going in blindfolded. 

I still need to learn more about how CoC returns work. How is that working for you here in Charleston? Since I am new to this I have no idea what our market looks like.

I would love to make new connections while I am stationed here. The more people I can talk to the more I can correct my path. Also, who knows, maybe I can be of some help as well. 

@Teri Feeney Styers,

My wife and I are considering this option. We will try to get down there again sometime soon to asses the situation with some local experts to see what the options are. We might refi that apartment to rid ourself of that contract. 

I have recently learned about this alternate way of thinking about low interest debt. This has been a game changer for me since I have always been so stigmatic towards debt. My VA loan was set at 4.5%.

@Michael Ealy,

I have a realtor looking into my home value now. It doesn't look like I will have much equity. Plus, I was told I will pay a large capital gains tax since I sold the house in under two years. I am still learning about all of these laws. 

The apartment in Brazil will not product much cash flow considering the conversion ratio from Brazilian Real to U.S. Dollar. So, we would keep the money there and start a separate investment plan. 

As for the TSP, it looks like I will lose more in early withdrawal penalties than it is worth. I might just have to set it and forget it for the time.

Thank you for all of your help!

Hello everyone!

I am new to real estate investment. I was hoping to find some local connections in the Charleston area near the Air Base. I am as new as new gets to this, so any tips, advice or warnings are welcomed. 

My goal is to find a multi-family here while I am stationed. 

Looking forward to hearing from you all!

-Sean