MIND BLOWN: Newbie investor from Charleston, SC

11 Replies

Hello fellow BPers!

I'd like to introduce myself, I'm Joe Caron, and I have been taken by the world of real estate!

Here's a little back story: I recently moved to the beautiful city of Charleston, SC (everyone is so nice down here!) and I came from a rural small town in Ct where I was a rental house crane operator.  Its a fulfilling job that has great benefits but, it also has its drawbacks being constricted to someone else's time schedule. And over time, I realized that I wasn't really truly happy grinding everyday to make someone else rich. I think that brings a lot of us here. During that period, I ended up buying a horse barn and converting it into a post and beam home. That has been one of the biggest lessons of my life, most of the work was done myself with the help and overwhelming support of my friends, family and extremely patient girlfriend. 

I first stumbled onto biggerpockets via their podcast. It was with @David Greene and his BRRRR strategy. I was in the crane and listening to his story and he was describing his frustrations which happened to be my frustrations! I have never heard or thought of anything like the BRRRR strategy, I was hooked. (If you see this David, thank you so much for giving a jump start in this direction) Since then I have immersed myself into multiple real estate books, many more podcasts, webinars, and attended some local REI club meetings.

I'm green as a pickle in the investing scene and also to Charleston, I'm here to network with people and help out where and when I can. After diving into this field, the practices of @Dave Van Horn really made sense with me.  I like his strategy of having access to equity in his properties and using that to fund notes while using private money to fund flips to double down on his net worth. (Thanks for the mindset strategy Dave!) I'm highly motivated and driven to learn more and use this knowledge to further my path and the paths of others. 

I have met so many great people playing in this arena and look forward to meeting many more! I appreciate taking your time to read this, safe ventures.

-Joe Caron

Hi Joe. Yah, you and everyone else are moving here! I'm actually thinking of leaving because S-ville is getting so crowded. But seriously, welcome. It is really cool at first, so enjoy. I like that, "green as a pickle." I was too in 2009 and I stepped in a mushy pile of dog crap right from the start. Long story. It's gotten a bit better since :)

I'm open to chit-chatting if you want. I have done a few different things. 

some of the local Bp ers will have meet ups..  @Russ Scheider   I think helps with some of those ???  

I found Charleston 6 years ago .. when one of the big TV Guru's wanted me to fund 3 fix and flips for him.. which I did.

one off of Ashley close to downtown and the other two or in James island. the down town one did find the other two I made money but don't think he did.

I was used to funding deals in the deeper south GA AL MS and when I got that appraisal on a 1000 sq ft bungalow on Ashly for 300k I was shocked to say the least in Jackson MS that's a 100k house LOL.. although here in Portland at the time price was the same.

this got me very curious so I flew out there and spent 4 days and decided it would be a great place to do rehabs and infill rehabs.. did about 6 rehabs.. those can be tough there with the age of the homes ( we are right in Charleston proper ) Although my first one was in Old Mt. Pleasant and we snaked that deal before the market really got hot there so did well.

But then I started buying lots.. for 20 to 40k each.. and  30 some new builds later.. and I have morphed into buying 500k plus lots in the expensive areas and going for that 2 mil exit price.. got one in the bag so far and 3 under construction and another 7 in the 400 to 600k range.. market has cooled though I think most will tell you that.. so we will see how it all shakes out but it was a great run there for 5 years.. for me the rentals did not work as prop tax's are so high for non owner you really need to get some pretty good deals for those to pencil..  I had a SF client of mine buy a properly licensed air bnb off of King st. down town and that thing prints money for her.. 

@Joe Caron   There are multiple meet-ups around town.  Some better than others.  I share your fascination with alternative housing, having built a sleek tiny house on wheels as well as a having worked on octagonal houses, post-and-beam houses and geodesic domes.  Would LOVE to see some pics of your barn conversion.  Let me know who you need to know in Charleston, and I will do my best to introduce you.  Thanks @Jay Hinrichs for the mention

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you