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1 July 2019 | 11 replies
Target big groups going to Christian conferences in surrounding areas (Montreat, The Cove, etc...).
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1 July 2019 | 10 replies
I don’t really want to do a total remodel but I’m excited about putting in a little bit of TLC and sweat equity to do some basic stuff (painting, trim, flooring, replace appliances, outdoor cleanup, etc) to make it nicer and more appealing for myself (since I’ll be living there for a while) and also for my future tenants after I move out.I’ve been doing a little bit of looking around on the mls (via Zillow) just to try to get a feel for some price ranges in the different sections of the city and surrounding cities/towns and I think I might have found a pretty good deal but wanted to get some feedback on it and see what I’m missing and what I should be looking for.Here are the details: Location: Trailway Dr, Summerville, SCList Price: $149,000 (assuming it was purchased for list price)Down payment (20%): $29,800Closing costs: $4,000 Total amount out of pocket: $33,800 Assumptions:rental rate: $1,550/month (median rent for that area from rentometer.com)Insurance rate: 0.50% of sale price (estimated, I haven’t gotten a quote on this)tax rate: 2.03% for rental property (from Berkley County Website)Vacancy/Loss %: 5%Repairs %: 5% of Gross RevenueCap Expense rate: 7%Prop Mgt fees: 10% of Gross Income Mortgage interest rate: 4%I have an excel calculator that I built to learn how to evaluate deals like this but I'll summarize the numbers below.
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15 November 2019 | 8 replies
You can always be the lender for friends who are still in the SA area.Buy 1sts or 2nds that are performing or non-performing in SA or surrounding areas.Remember just because an area or city is cheaper than where you are does NOT mean it is a better deal.
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3 July 2019 | 68 replies
Read as much as you can, listen to the podcast and surround yourself with like-minded people.
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1 July 2019 | 2 replies
Videos like this are a gimmick they never get anyone that's local to the city an investor of the city its always a realtor that from elsewhere that invest in the surrounding cities and never lived in the city.
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10 July 2019 | 18 replies
It sounds like you may need this just to get a good number on the property since it is a town house surrounded by single families.
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2 July 2019 | 8 replies
The area is nice and kept up well but one downside is rents are 50-200 dollars a month less per door than the surrounding area.
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1 September 2019 | 17 replies
Tons of tech jobs are surrounding the area, Google, Amazon, MS, etc. all have a major presence.
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7 July 2019 | 10 replies
Yes, it is hot and humid in the summer but at least our area is surrounded by water and we get very nice breeze unlike Orlando area.
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20 February 2022 | 14 replies
Also look into a place called "The Villages", there's a ton of investment going into that area, but the area surrounding it is both underdeveloped and easy to reach (it's where the Turnpike and I-75 conjoin).