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 Welcome to Charleston! If you renovated a horse barn into a post and beam home, I'd say you have some experience in real estate. That sounds like a really interesting house hack! Do you still own it?
Thanks @John Semanchuk , I still do. It was a huge renovation and most people don't believe me that it started out as a barn
Thanks @Joe Caron , appreciate the mention! Feel free to reach out if there's ever anything I can do to help you get started.
Hey @Joe Caron , welcome to Charleston! I'm from Boston and BP gave me the courage to move down here and buy investment properties. I now have 3 on Folly Beach and 4 in Charleston.
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.
Thanks everyone! I'll be in contact for advise, I can use it!
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
Sure! @Russ Scheider here’s a couple, it needs a couple more nights and weekends but I’m happy to be at this point with it
I spent a week in Isle of Palms this summer. The place is amazing.
@Jeff Bousquet its definitely stunning! Where are you located in RI?
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