Charleston Newbie!

15 Replies

Hellooooo, my name is Melissa. I moved to the Charleston area three years ago and I rent a home near Old Village in Mount Pleasant.

I'm looking to get connected and figure out how to do my first investment here. Trying to decide if I should do a flip first, or a live in investment that I can rent out in a year. I'm open to living in Mt.P, West Ashley and North Charleston.

I am having some issues with conventional financing because of my 1099 job, though. :( But I have cash for a down payment and the time to search out deals and do a flip. 

Any advice would be so greatly appreciated!



Oh, an I forgot to mention that I have done 2 flips and owned 2 rental properties in he past ... But that was before the CRASSSHHHH when banks were handing out money like candy.

Welcome to BP and I'm a newbie too! From what I can tell its mostly based off market trends. Find out whats trending in your market and invest there. Development builds are all the rage thus far here in Alaska but I'm not ready for that yet so I'm going to focus on fix and flips until I can start purchasing rental properties! Whatever you decide let me know! Great to meet you and welcome again :D

Welcome to BP.  Great info on this site.  Lots of good people, too.  I buy and sell Charleston area properties as wholesale prices.  We also do rehab/flips and other types of investment.  Please reach out to me with your contact info if you would like to keep in touch.

@Melissa Searing

Welcome. 

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul 

Welcome to Bigger Pockets. I am also new to BP but have already found it to be a wealth of information - which will eventually lead to wealth if you internalize the lessons learned from others. If you have not checked out the podcasts they are a must listen to - for new or seasoned investors. There are no dumb questions and it is truly amazing how fast people jump in and give you feedback. You definitely receive far more than you give as a newbie but eventually you will be able to pay it forward in a few years. Good luck and I hope to see you get active on the site.

Welcome!!  Check out the house hacking article as someone else suggested.  How much down do you have?  You may need to put down a larger down payment to make up for the short self employment history or find you a seller financier.

@Melissa Searing , welcome to BP! I am new to the real estate investment world, too! I've found this site to be very helpful and the other members are great! I plan to use the resources on here to the best of my ability...I hope you do the same! :-)

Let's connect!

Ashley J.

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