All Forum Posts by: Vincent Reid

Thanks for the response guys and sorry for the late response.  I got super busy since I posted last, my wife and I have decided to make the move! I am contemplating getting my brokers license. What are your thoughts on brokers there? What are the average days on market? 

@Andrew R. Lucas I am interested in the marketing piece of Wholesaling. Any thoughts?

Hello BPers! I am looking for information on the Columbia S.C. market. I am thinking about relocating from Columbus ohio. Columbus is a super great market for what I do. What do I do? Glad you asked. I have a maintenance business with an emphasis on HVAC. My wife and I are both realtors who buy,sell,flip,hold. We also have a property management arm. So with that being said I'm looking to get information on the Columbia and surrounding markets as it pertains to the work I do. Are there any good brokerages there to hang my Real estate license? How's the wholesale market? Is flipping good business there? Thanks in advance! Any info would be greatly appreciated.

Ps I'm looking at living in the Lexington area.

Columbus is a great market.

Good evening Brent. I am here in Columbus and have to say that it's a great market. You can get good cash flow here. Appreciation as you know is a plus but I recently sold a couple of my buy and holds because the market has gone up so much in the last few years. Let me know if I can be of any service to you.

Good evening Larry. Most of the 3 day notices you find online will do. I don't believe that your mother-in-laws name needs to be on it. Anyone can serve it by just posting it to the door. I usually take a picture of it posted to the door with a time stamp. Let me know if I can be of any assistance in the future.

@Michael Roloff congrats! I'm here in wonderful columbus, shoot any questions you may have.

No but I am looking!

Investment Info:

Single-family residence fix & flip investment in Columbus.

Purchase price: $11,000
Cash invested: $25,000
Sale price: $79,900

This was an off market deal. New kit, bath, paint carpet, etc

What made you interested in investing in this type of deal?

The deal was brought to us at a great price.

How did you find this deal and how did you negotiate it?

We bid low because the property was in distress.

How did you finance this deal?

Cash

How did you add value to the deal?

Total rehab.

What was the outcome?

It took over a year to close. After we agreed to purchase the seller filed for bankruptcy. But it worked out in the end.

Lessons learned? Challenges?

The appraisal came back 10k below asking price. The other agent actually fought to get the appraisal back up.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $79,000
Cash invested: $5,000
Sale price: $120,000

This was my personal property. We received the "obama" tax credit which gave us 8k at closing! This was no money down. We lived in it most of the time then rented it out for 2yrs at $1,100 per month.

What made you interested in investing in this type of deal?

It was my first home.

How did you find this deal and how did you negotiate it?

Used an agent

How did you finance this deal?

FHA loan

How did you add value to the deal?

New floors, paint, bathroom.

What was the outcome?

Great deal, sold for 122k

Lessons learned? Challenges?

You make your money when you buy!

Welcome! North Lindan is a very tricky area. It is literally street by street. With the smart city grant, the area is looking to turn around. Let me know if I can be any help to you in the future.