All Forum Posts by: Susan Guzzo

 Hi Sam, it's a 6-unit building. Can you message me? Perhaps if it doesn't fit your criteria, you might have recommendations. Thanks!

Looking for a property management company in the east Cincinnati area.  I'm out of state so I need an outfit I can trust.  Anyone have a PM they're working with that they like?

Thank in advance--

 I wasn't trying to throw any shade on SC, it's a lovely place.  1% I can handle.  What I ran into is that for many counties, there is an increase in millage rate, a loss of homeowner exemption, and loss of exemption from school operating taxes.  The end result is often a property tax bill that is noticeably larger than if the property was a primary residence. For a $1.7M property I was seeing an estimated property tax expense of $26K+, so the deal penciled out in comparison to other properties in the midwest where the taxes are lower.

Hard to find reliable sources of info, but there's this: "If you decide to rent out a home you’ve owned and occupied [in SC], your tax bill may triple. There is an exception for armed forces members who apply with the county assessor to keep their owner-occupied rate for up to two years. The reason is that owner-occupied homes are exempt from paying public school operating taxes. Rental properties are not exempt and they’re taxed on 50% more than their actual value." https://www.articlecity.com/bl...

And there's this BP thread that describes increase rental property taxes in SC: https://www.biggerpockets.com/...

I've had to deal with increasingly high property taxes in CA, and I'm trying to get away from it. I'll admit I may be a bit traumatized lol.

Forgive me dead horse, I may have beat you.

I was looking at rental properties in South Carolina for a hot second, but it turns out that they assess rental property at 50% more than its actual value. Too big a line item on the balance sheet for me.

For those of us playing along at home, what would be a reasonable offer? What would the numbers say? Would love to learn.

I highly recommend house hacking--it served me well at age 25 with my first duplex on the edge of some great neighborhoods. Why not have a tenant's rent help pay down the mortgage and repairs on the roof? It might take some looking to find a configuration you're willing to live in, but it's well worth the time, the tax benefits, and the appreciation over time. 

@Mike D'Arrigo what markets do you prefer?  Are you finding some midwest markets with decent appreciation?  

Thank you for your generosity of spirit in wanting to share your expertise with others. As a rookie investor, I often wish I had someone with whom I could bounce ideas around or get guidance as I’m evaluating a property. While some might want weekly coaching, I’d pay an hourly rate for some expertise as needed to accelerate my learning and help me avoid mistakes. 

@Carlos Ptriawan how does one find this data?  Is that on CoStar, or is it available for free elsewhere?  

@Kiera Underwood That might be an option, although the fewer properties in my 1031 deal the better and hopfully less chance for something to go wrong. Thanks for your response; I've heard good things about OKC right now with good economic outlook and population.