Hello guys thanks for looking at this post this is what were looking to achieve we just recently purchased five single-family homes in South Carolina 4 that will be for rent and one will be our primary residence. Each home was approximately $200,000 and we're putting down 25% on each. What were trying to acquire is as many single-family homes as possible I read and hear how so many people have 30,40,50 homes etc how do they do it? Are there books videos etc. what's the formula, thinking process, actions etc. please point us in the right direction
I am a Real estate agent in Columbia, SC and I primarily work with investors but still here and there do traditional buyers and sellers. The biggest thing is the Rate of return on your investment. Most of the large and small investors I work with, buy foreclosed homes and of course most if the homes are in need of renovations. They purchase them at a low price, restore them, then rent them. The biggest thing is having a good agent who knows rental and resale comps for the different areas. buying a home in a low income are can work but the rental rates need to be high enough to make sure a positive return on your investment. If you are looking for homes in the Consolidated MLS market, I would be more than happy to send you homes in our area that have a decent return. I also have a 21 listing portfolio that has tenants in place and are not in need of any repairs as the seller has already updated the homes. Good Luck!
I buy only 50 and 60k houses and owner finance most of them. It's a lot easier to build a portfolio of distressed houses owned in cash, IMHO! :) good luck to you.
Are you only looking in the Summerville area?
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