All Forum Posts by: Michael Dorosh

@Jean Soo I’m in the same exact situation. Any tips or lesson learned you can share?

@Aaron Humerickhouse it is never to early to start learning the different areas and reading the local news to better understand the key drivers in the Greenville market. Also, practice evaluating random properties online in the area to get a feel for price/rents/taxes, etc. Finding the deals is the hard part. There are plenty of podcasts specific to property management and online resources to leverage.

I'm in a similar situation as you. I moved here a few months ago, and I'm looking for buy and hold properties to invest in. I also house house hacked my primary residence prior to moving. Feel free to send me any questions you may have, and I'll be glad to help. 

Josh Fernandez the key to the sales comparison approach is finding 3 or so properties that recently sold (maximum last 6 months) in your area that are similar to your 3/2. That includes square footage, # of beds and baths, features/finishes, and overall quality and age of the property. There are many articles online that you can read when searching sales comparison approach to help you determine what the market value of your home is. I would suggest starting there. Sometimes it can be difficult determining features/finishes of a home, but typically realtor.com, trulia, or zillow will have pictures of the property even though the house is off the market. That's the benefit of being an agent, all that information is easily accessible through the MLS.

Josh Fernandez I like to use realtor.com when pulling comps. You can easily search for recently sold properties in your area. Another way is working with a real estate agent who can pull comps for you out of the MLS.

Patrick GRibbin a 1031 exchange can only be used when buying a like-kind property, such as another real estate investment property. The benefit of a 1031 exchange is to defer paying capital gains taxes to help your business grow faster.

Congrats Wil Reichard on starting at such a young age. I'm no experienced investor, but I'm alway looking to meet like minded individuals. Please feel free to reach out to me to talk REI.

@Account Closed the 2 scenarios you presented both have their pros and cons. If you are using conventional financing and don't have much capital to work with it is probably best to "house hack" a 1-4 multi family/SHF. Since you are owner occupying the loan, you can put as low as 3.5% down with the intent of living there for at least 1 year. However, if you do have the capital, investment properties require 15% to 25% down depending on the bank. Your choice...

Welcome Brian Stewart to the Greenville area. I am also in the learning stages of real estate investing with aspirations to buy and hold properties. Let's connect over coffee sometime and see how we can help one another.

@Ethan Lee that's awesome! Hearing success stories like yours is inspiring for any real estate investor that is trying to get started. I'm currently stuck in that restrictive 9-5 lifestyle and looking to get some hands on experience. I'm also trying to crack into the Greenville, SC market and would love to be of assistance to you. Feel free to private message me if there is anything I can do to help. Any experience is better than no experience. Thanks!

Michael Bowman I noticed in the forums you were looking for a roof contractor recommendation a few months back. Any luck? I'm in the need of one in the Charlotte area. Thanks!