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All Forum Posts by: Skip Gilliam

Skip Gilliam has started 32 posts and replied 75 times.

Post: Possible live in flip, should we sell?

Skip GilliamPosted
  • Bluffton , SC
  • Posts 75
  • Votes 9
Yes, we have a pretty wide range of home prices in my neighborhood, lowest is around $400k highest is close to 2 million on the water. Avg for the neighborhood is probably in the mid $600k range.

Post: Possible live in flip, should we sell?

Skip GilliamPosted
  • Bluffton , SC
  • Posts 75
  • Votes 9
Ultimately to buy a few rentals to help build enough passive income to enjoy an early retirement. Still working on my strategy to get there. Plan with this house if we sell is to downsize a bit to a little cheaper home and possibly pay cash for our for our next home or at least have a much smaller mortgage that way our w2 income would be free to invest. Possibly even do another live in flip. If the house sells for what they think, we will have $325-$360,000 to invest in another home or rental. I am still new to investing in real estate and really not sure 100% sure what my best course of action is.

Post: Possible live in flip, should we sell?

Skip GilliamPosted
  • Bluffton , SC
  • Posts 75
  • Votes 9
Built our home a little over 2 years ago and planned on living here for many years but...Home sales in our neighborhood seem to be picking up and it's got us thinking about selling to try and make a quick profit. We had two agents come out to our home last week to give us some feedback on our house. The price range they seem to think we could sell for would put an extra $100,000 in our pockets. I am still a newby at real estate, haven't pulled the trigger on any rentals yet but this seems like a very good return on our initial investment of $175,000. Love the house...should we sell?
My next door neighbor just sold and closed on their home yesterday. Zestimate has it at $622,000 sold for $739,000. Some neighborhoods in the area it's pretty close, not even in the ballpark where I live.

Post: Question about a local medical office for sale.

Skip GilliamPosted
  • Bluffton , SC
  • Posts 75
  • Votes 9

anybody?

Post: Question about a local medical office for sale.

Skip GilliamPosted
  • Bluffton , SC
  • Posts 75
  • Votes 9

This property is part of a plaza of office buildings grouped together. There must be some fee for the upkeep of the grounds and lawn maintenance I'm sure. Why would $1700 fee be a deal breaker if this tenant is paying over $40,000 in rent?

Post: Question about a local medical office for sale.

Skip GilliamPosted
  • Bluffton , SC
  • Posts 75
  • Votes 9

The office is 3300 sq ft 

Post: Question about a local medical office for sale.

Skip GilliamPosted
  • Bluffton , SC
  • Posts 75
  • Votes 9

I'm new to investing, just looking through listings tonight I see a local medical office for sale, listed at $399,000. The building is 12 years old in good shape, tenant is in place and has 2 years left on a 5 year NNN lease rent is $3450 month. There is an HOA fee 1750/year. Are medical offices good investments? How do you analyze a deal like this?

Post: New multipurpose building for sale

Skip GilliamPosted
  • Bluffton , SC
  • Posts 75
  • Votes 9

I'm still new in real estate, just started entertaining the idea of investing in real estate last year. Have yet to purchase anything though. I'm still learning and trying to figure out which direction I would like to take. The question I have is about a multi purpose building in my area, it's in a great spot right in the middle of downtown area that is really growing. Over the last couple few years. Basic info on the listing is...The building is a new build just completed in 2016, 3 story, 3500 sq/ft stand alone building. 1st floor is retail space with. 5 year tenant in place, 2nd and 3rd floor class A office space. Listed at $899,000. Owner will consider lease back on the top floor. 

Doing some research, it looks like the whole area of property was bought in 2007 for 2 million, then subdivided out, the land this building is on sold in 2014 for just over $200,000. Building was constructed and now it's for sale. Probably more than a first timer should take on, I'm just not really excited about SFH rentals, this type of real estate is what interests me.

So, need some pointers and advice on how to dial in the pros and cons and how to analyze a building like this. To see if it works or not.