Newbie Marine investing in SC...hello all!

Newbie Marine investing in SC...hello all!

Member since 2019 · 1 post · 2 votes

Hello, my name is Clay and I am currently an active duty Marine with 14 years of service under my belt. I purchased two rental homes in Cayce, SC prior to enlisting in 2005 and have since acquired 3 more investment properties in the Cayce/Columbia, SC area. I am hoping to accrue at least 10 single family or multi-unit rental properties by the time I retire in 2025 and am mainly here to get educated and grow my business. I have formed an LLC but have not used it yet. I own 3 of the properties outright (mistake) and am using a HELOC to purchase new properties. I have never paid over $80k for a property and need advice/financial planning/etc to create and build a business that will provide financial freedom by the time I retire in 6 years. Between deployments and having been stationed all over the country, remotely purchasing and maintaining properties has its challenges but I am now in Columbia, MD and only a 7 hour drive from my properties. Please feel free to point me in the right direction or provide suggestions for what to do next and I look forward to interacting with all of you!!

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  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    7y
    Originally posted by @William Pierson:

    Hello, my name is Clay and I am currently an active duty Marine with 14 years of service under my belt. I purchased two rental homes in Cayce, SC prior to enlisting in 2005 and have since acquired 3 more investment properties in the Cayce/Columbia, SC area. I am hoping to accrue at least 10 single family or multi-unit rental properties by the time I retire in 2025 and am mainly here to get educated and grow my business. I have formed an LLC but have not used it yet. I own 3 of the properties outright (mistake) and am using a HELOC to purchase new properties. I have never paid over $80k for a property and need advice/financial planning/etc to create and build a business that will provide financial freedom by the time I retire in 6 years. Between deployments and having been stationed all over the country, remotely purchasing and maintaining properties has its challenges but I am now in Columbia, MD and only a 7 hour drive from my properties. Please feel free to point me in the right direction or provide suggestions for what to do next and I look forward to interacting with all of you!!

     Welcome to the site William.

  • Member since 2021 · 6 posts · 0 votes
    5y

    Hi William, I am new to the rental investing so when I read your post I noticed you mentioned that it was a mistake to buy your 2 properties outright. Why is that? That is something I was going to do but if you can shed some light on that I would be grateful. Thank you!

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