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All Forum Posts by: Will Gaston

Will Gaston has started 83 posts and replied 1630 times.

Post: Looking for insurance agent recommendations for flip in Greenville SC

Will Gaston
Posted
  • Rental Property Investor
  • Columbia, SC
  • Posts 1,692
  • Votes 2,214
Quote from @Ross Hilton:

As the title suggests I'm looking for a good insurance agent that can write a policy in South Carolina for a 3-6 month flip on an SFR.

Any suggestions would be greatly appreciated!


Ross, Ben Mason does all of my flips / student rentals in Columbia, South Carolina. He's based out of Boiling Springs, but lives in Greenville.

https://www.benmasoninsurance.com/

Post: Greetings From a Seasoned SFR Investor and Manager

Will Gaston
Posted
  • Rental Property Investor
  • Columbia, SC
  • Posts 1,692
  • Votes 2,214

@Tyson Scheutze what are you seeing in the Columbia market as of late?

Post: Forestry/Timber Company Referrals - Lee Co South Carolina

Will Gaston
Posted
  • Rental Property Investor
  • Columbia, SC
  • Posts 1,692
  • Votes 2,214

@Deborah Pyburn 

Rural Land Investments might do it, but my gut is it's too small for them.

However, they can probably refer you to someone.

Travis Spainhour and Deborah Moore are both great folks there.

https://ruralland.com/about/team/

Post: What are my options when my escrow shortage causes higher payment

Will Gaston
Posted
  • Rental Property Investor
  • Columbia, SC
  • Posts 1,692
  • Votes 2,214
Quote from @Brandon Curry:

I just got an escrow analysis from a new lender (transferred about a month ago) and there is an escrow shortage. The property is in South Carolina. (Columbia, Richland County) The increase would case the payment to go up $900. Last year I got money back because of a shortage now there’s a massive overage.

What options would I have as an exit strategy to get out of paying this high amount? I understand it has the possibility to change yearly but I didn’t expect it to almost double what the mortgage is on the property. First payment of the new amount is due the 1st of next month as well. I cannot absorb that kind of loss continuously for the next year. Any suggestions wil be helpful.


 Brandon, it sounds like your property got reassessed. Where in Columbia SC is it? My portfolio is there so I can connect you with an assessor.

Post: Renting to College Students

Will Gaston
Posted
  • Rental Property Investor
  • Columbia, SC
  • Posts 1,692
  • Votes 2,214

@Caleb Rehg

1. You need a local/state specific lease.

2. The best way to get that IMO:

- Kindly ask 2-3 local large Property Mangers in your market if they'd share there lease.

- Check the Off-Market Facebook Housing groups at your school. DM a few local landlords to ask them 

Post: Renting to College Students

Will Gaston
Posted
  • Rental Property Investor
  • Columbia, SC
  • Posts 1,692
  • Votes 2,214

Post: Rentals in Albany, is it a good Idea?

Will Gaston
Posted
  • Rental Property Investor
  • Columbia, SC
  • Posts 1,692
  • Votes 2,214

@Rose Laurent re: student rentals, this thread may be helpful:

Nearing 1,000 College Students: Here's What I've Learned

Post: Looking for DSCR Lender that will do 10 unit mutliplex in South Carolina

Will Gaston
Posted
  • Rental Property Investor
  • Columbia, SC
  • Posts 1,692
  • Votes 2,214

@Ross Hilton is it in or around Columbia? If so, I have loans w 12-13 banks there. I can probably point you in the right direction.

Post: New construction financing

Will Gaston
Posted
  • Rental Property Investor
  • Columbia, SC
  • Posts 1,692
  • Votes 2,214

@Eugene Lindsey have you tried any Credit Unions?

Caro Financial would probably do it if it were in Columbia (not sure about Anderson)

https://smartcaro.org/

Post: New construction financing

Will Gaston
Posted
  • Rental Property Investor
  • Columbia, SC
  • Posts 1,692
  • Votes 2,214

@Eugene Lindsey I think it would any experience building (either spec and selling or buy/hold)

How many banks have you talked to?

You only need one yes.