All Forum Posts by: Tanner Forster

Thanks Christopher Goldie you can email me : oreadinvestments@gmail

Thanks ! Troy Gandee He can reach me at oreadinvestments@gmail

Thanks, Dave! I appreciate he info! Tanner

I have 2 positive cash flowing self service car washes with outstanding commercial real estate for sale in the Lexington and Ballentine areas of Columbia, South Carolina. They are both in commercially anchored areas with surrounding large retailers, grocers, restaurants, etc. Both have great road exposure and frequent traffic. They are easy to manage remotely and I can help someone with the transition.  But, they require boots on the ground at least once a week to check on things and collect cash.   Both locations are bringing in roughly 80K per year combined, but could be commercially developed as the land is highly valuable in two rapidly growing areas. The possibilities are endless.. I prefer to sell both together.  Job move forces the sale. I'm asking $399K for both locations together with land.  My question for my fellow BP members is, should I sell them as businesses as they are cash flowing, or simply as commercial property?  What are the pros and con's of either way?   Also, Is this something that a buyer could possibly 1031 exchange  into ?  Open to all feedback.  Thanks very much!

Ballentine Location: .20 Acres 

Lexington Location: .24 Acres

Thanks,

Tanner Forster

That's good to hear, Mike. I wish you the best with it and will be very interested to hear what you end up acquiring. As for charleston, I think the cycle is nearing the peak so I'm being pretty cautious. But, it seems there are always opportunities if you keep looking and know your market. Good luck and please keep us in the loop.

I think your idea makes great business sense. I've thought about doing the same thing and who has a single family Airbnb type rental but lives in Chicago. He and his wife use their property twice a year. His biggest headaches are the sporadic turnover of clients. So having someone come change the sheets and clean every few days can be quite expensive. Also, in his experience good management help has been hard to find when managing from Chicago. However, his place still has decent cash flow and someone else is still paying to mortgage. I live in charleston and have seen the housing prices soar here. I have a feeling that savannah will be growing significantly in the next 10 years. There are major expansions taking place over the next 5 years with the port system and a great food and shopping scene similar to charleston. Also the tourism industry continues to grow there like crazy. I myself am interested in the market as I work there a day or two per week. However, in my driving for dollars experience and talking to my colleagues who actually live in the area, I am still a bit nervous of where to look. Even in the highly desirable tourist areas in the old part of downtown, you meander a block in the wrong direction and you are in a war zone. It seems to me that you will need to be dead certain on your location or you can still get into trouble with such a large investment. For that reason I've considered and have been looking at tybee island just outside of the city as its safer and and still tourist oriented. I'd love to hear what you decide on. Best of luck to you! Please let me know what you wind up doing.

Thanks Troy!  Good to know.  Please keep me in the loop.  I'll plan on attending! 

Hi All,

I was wondering if anyone is meeting up in Mt. Pleasant or Charleston to discuss deals, opportunities, partnering, etc?  Just looking for some other like minded, local investors out there who are interested in networking.  Thanks!

Hello Fellow investors,

I'm looking for a CPA, preferably in the Charleston area, who also personally invests in real estate.  Open to those outside of Charleston, but want someone who is well versed in real estate investing strategy and reducing tax burden.  Would appreciate if anyone could pass on any good recommendations or referrals in SC.  Thanks TWF