All Forum Posts by: Troy Gandee

Hi @David Buckley. I'm also a Realtor and investor in the area. FHAs can be a touchy loan. I have a preferred lender at Prospect Mortgage in Mount Pleasant that has a great track record with FHAs. She's helped me close a few. Shoot me a DM and I'll send you her info. 

I've used TurboTenant and like it. It's free for the landlord. Their hope is that you make it part of the application process for your tenants and they end up paying for it. Most of the results are going to be public knowledge or pretty easy information to access, so the results will usually be very close. There are some providers that will only charge you a monthly fee and you can pull unlimited reports, but it's not worth it if you only have a few properties.

@Pearce G. that sounds like a pretty good property. Your fortunate not to have to have to do much work after the purchase and get the property below list price. Keep in mind that you would need to take 6% off of your net profits if selling (if listing with a Realtor) and you would need to pay for more closing costs and possibly repairs for the new buyer on the back end. I don't think there is enough equity to flip it any time soon. The two year history is really frustrating. Most new investors have to deal with that problem when they start out. I'm actually still stuck in the 2 year limbo for another year or so. Once your two years are over, you can refinance the property into your entity and then you could likely do it over again. The only real alternative is to try to find OPM to give you private funding for the property but the interest is going to be harsh compare to what you're holding now. The way that rents are increasing over the area, I think you should hold onto that property as long as you can.

Hey @Patrick Orefice. Welcome to BP and to real estate. I live and work in the Charleston market. I'm a Realtor and investor here. This is a great market, but it's not the easiest to maneuver in lately. Our market has exploded in the last couple of years. It's still quite possible to thrive, but you need to be quick when looking for properties. You will also have a much better experience if you start networking with others in the area and preparing yourself for success. Feel free to let me know if you ever need any help buying or selling. @Russ Scheider is a great resource for local investors. He puts on an investor's happy hour each year that a lot of new investors attend.

@John Underwood I'm not an attorney and this isn't legal advise, but I'm a Realtor and investor in SC. I've wholesaled properties, as well. You can not provide and "fiduciary duties" to anyone regarding real estate without a real estate license or without being an attorney. You also can not market a property for sale that you do not have any "ownership interest" in. That's why you wholesale properties after you have a ratified contract. Once your offer has been accepted, it gives you the necessary ownership interest to market the property for sale. Basically, you just can't pretend to be an agent because that's fraud. If you're transparent with your buyers and sellers, it isn't an issue. And you must make sure that you have the property under contract before you market it for sale.

Thanks @Russ Scheider! And yes, @Bill Delo, I'm a Realtor and investor in the area. I don't think you could go wrong with either myself or @Carlos Gutierrez. I rehab 2-4 properties a year, just depending on what I can get my hands on and I have a couple of rentals. I'm trying to grow my rental portfolio and I help people with multifamily, apartment complexes and commercial spaces.

@Alisha Magwood You should definitely reach out to @Russ Scheider for more information about this. He's very resourceful and knows just about everyone in the area. 

Sure thing!

Hi there @DB Bailin. I'm a Realtor and investor in the Charleston area. You'll love the Charleston area. It's a great place to live and raise a family. There are a lot of different areas here that would fit your criteria. The thing that would help to answer your question the most would be a price range. Mt Pleasant is great. It's probably the most desirable area in Charleston. At the same time, there is a bit of a premium to live in that area. One the other side of the Peninsula is "West Ashley," which is generally more affordable and closer to the Folly Beach area. There are also quite a few nice areas in North Charleston. North Charleston is more central, but a bit further from the beaches. The Park Circle area in North Charleston is one of the hottest neighborhoods around right now. As far as investing goes, there are a lot of investors focusing on the area and we have a shortage of good deals. Mount Pleasant is notoriously difficult to find a solid deal. The North Charleston area is a nice rental market, but some of those areas are still D class neighborhoods. That will change eventually. West Ashley and James Island have both been markets that I've focused on for flips but they continually become more and more expensive. From North Charleston to Summerville, there are a lot of smaller communities that usually contain good deals, but they take a bit more local knowledge to find. I'd be happy to help you out when you're ready!

That's interesting. Let us know how it goes!

This may be a new strategy for you @Russ Scheider