Real Estate Investor · Charleston, SC · Member since 2010 · 17 posts · 3 votes
My name is Johnny Nuchols. I have been reading forms for a little while from BP on and off and realized that I have not introduced myself. I just recently move back to the Charleston area from California with my wife, Nicole.
We are planning on buying an investment property this summer or later in the winter. We are not sure if we want to buy a rehab project and sell for a profit or keep and rent. Currently I've been listening to podcast from BP, reading books, set a budget to save money for our first project for the coming year and just found a nearby REIA which my first meeting will be beginning in January.
I look forward to getting involved in several discussions and to bounce ideas off you all.
@Johnny Nuchols - what a great goal. One thought I have is I recommend not trying to do everything (i.e. rehab, be an agent, be the prop manager). If you delegate tasks out you'll find your sanity will maintain its current level, your risk will be mitigated in most circumstances and your network of influence will exponentially increase which could lead to more deals.
Hey @Johnny Nuchols Thanks for introducing yourself! Definitely jump in anytime you can offer advice or ask a question or whatever! And thanks for listening to the Podcasts!
Hi @Johnny Nuchols , and welcome to BP! I'm a 'fix and hold' investor personally, because I like the ongoing cash flow to ween myself off the 9-5 job.. But a lot of people do flips to build cash for buy and hold, or make good enough money that they keep doing it. But you have to keep doing it actively to keep making money on it! Here are a few tips for the site too..
You'll find lots of good info in the "Learn" link across the top navigation bar, and in the link at the top of the introduction forum. You can tag people by typing @ before you type their name, then clicking their name when it pops up at the bottom of the message box. You can click on the "vote" button if you like someone's post or is helpful. And you can earn "awards" for various "achievements" - just look at your profile. Hope that helps with the site! Good luck on your investments!
@Johnny Nuchols - welcome and those two options are really different. I'd take a look at your long-term goals as well as your current available time commitment because a rehab will take much more time to do.
Welcome! I'd love to keep track of your progress- I visit Charleston frequently and have considered it but have not found any opportunity better than those available to me locally. Keep us posted of what you find, it would certainly help me get familiar with what is considered a 'good deal' there
@Johnny Nuchols - welcome and those two options are really different. I'd take a look at your long-term goals as well as your current available time commitment because a rehab will take much more time to do.
Our long term goal is to hold a least 5 rental properties and have them paid off for retirement years. We will look at each property and determine what is better for our ROI on a 5 year plan. I plan on getting my Real Estate Licence this winter along with my property management licence. I am a server at a private resort which I normally only work in the evening and less then 8 hours. This gives me the ability to have my days free and time to focus on rehabs and getting additional licences.
@Johnny Nuchols - what a great goal. One thought I have is I recommend not trying to do everything (i.e. rehab, be an agent, be the prop manager). If you delegate tasks out you'll find your sanity will maintain its current level, your risk will be mitigated in most circumstances and your network of influence will exponentially increase which could lead to more deals.
@Johnny Nuchols - what a great goal. One thought I have is I recommend not trying to do everything (i.e. rehab, be an agent, be the prop manager). If you delegate tasks out you'll find your sanity will maintain its current level, your risk will be mitigated in most circumstances and your network of influence will exponentially increase which could lead to more deals.
Thanks for the advice but I have always wanted to get into land lording and I already have experience in this area and enjoy it. Its true it can be a head ache but I find always stepping back and learning from bad situations, being open to taking the advice from others and always having an open mind with learning new things only get easier.
I am a person that sees a solution or has a goal and I get hyper focus and don't like to waste time. Getting my Real estate license I feel is the obvious choice for my long term goals.
I have been in agents offices that received a call from their investors to make a low ball offer on a property just to have them get off the phone and spend hours with me and tell me it ridiculous that they think they can get that property that low and then submit the offer hours later, that could be too late. If I'm mining through the MLS and see something of interest I want to have the access to run out to the property right away or just review the numbers and be able to submit the offer right then and there.
I have always found real estate interesting since I was in my young twenties. I rehabbing properties and managing them is the way I want to get my feet wet. Just because I want to hold both these licences doesn't mean I can not network with others still. If anything it will allow me to meet with more people.
I have met several investors that rehab couple properties then take there capital and invest it into a rental property for long term then rinse and repeat.
Welcome to the site @Johnny Nuchols, thanks for introducing yourself. I definitely like your plan and how you've been taking the time educate yourself. Hopefully you network with some great people at the local REIA.
Welcome to the site @Johnny Nuchols, thanks for introducing yourself. I definitely like your plan and how you've been taking the time educate yourself. Hopefully you network with some great people at the local REIA.
See you around!
Thanks! I have a meeting I am going to with my local REIA on the 6th of next month and plan on going to an local auction the first Tuesday next month. I plan to be aggressive with networking.