All Forum Posts by: Valery Mora Kepley

Thank you Andrew (I haven't figured out the @). 

Good information. I was forgetting about cable/internet.  I will definitely have to look into insurance costs. My initial thought is a sound/canal front single home, as I hope that will be easier to insure and offer protection from hurricanes.  It won't rent as well as oceanfront, but it will rent well in the summer for kayak/boaters.  I ask the condemning question because there are oceanfront condos going for $50,000 with what appears to be good rental history, but high tide is only yards away, and there is a sandbag wall in front! The cashflow might make sense, but since you mentioned it, I'm sure they couldn't be insured!

I have always wanted to own a beach house, and I am hoping that by investing in a vacation rental I can make this a reality. I have a few questions, as I am still researching feasibility.

Is it ideal to form my LLC prior to purchasing my first rental?

How much should I expect to put down? 

Are mortgage rates different for investment properties?

How do you determine the market for a rental? Is looking at VRBO and calendars a decent way to assume average rents? How do you know if a new rental in the same location will have similar rents? Isn't it possible that highly booked properties have an established clientele?

Is it worth it to purchase a condo that will have positive cash flow if it is in danger due to beach erosion?  What happens if your property gets condemned? Does insurance have a role in this instance?

For those that manage their own properties with VRBO and housekeeping, how do you deal with the minor complaints from a distance (3-4 hours away)? Things like broken coffee pots or ceiling fans?

I have many more questions. Thank you in advance for reading this, not thinking I'm an idiot, and hopefully replying with helpful information!

I am researching investing in tax liens in SC. I have a few questions that may be stupid, but some basic things I have a hard time with.

Most counties I've looked at have live auctions and require a cashiers check. How do I know in advance the amount I should have the check prepared for? I don't bank with an easily accessible bank.  Would I get it made out in excess of what I bid? Is there alternative payments?

How do I know if liens will be sold in lots or separately? 

Is there a way to access the liens that do not get sold after the auction? How do I do that?

I am looking at the coastal counties. Will there be liens to be bought, or do the big investors scoop them up?

It looks like most liens are redeemed with minimal work on the investor part. If the lien is not redeemed, is it easy to take control of the property? Do other lien holders have superior rights? If tenants exist, is there a big problem?

Thanks for reading!

I am in the beginning stages of educating myself, with the possibility of buying tax liens. I am wondering what you mean by doing a title search yourself at a courthouse. I have looked at my county's online information, and I am able to see any mortgages on a property, but I believe that is the extent of it. 

I was just wondering the same. I am looking to get into SC tax liens and I was wondering why a bank would not pay the taxes. So if I am understanding, if you buy the lien and it does not get redeemed, the bank still has a claim on the title?