All Forum Posts by: Adam G.
Adam G. has started 3 posts and replied 5 times.
Post: Hi! Would love a mentor and some advice on what to do next.
- Real Estate Agent
- Columbia, SC
- Posts 5
- Votes 3
Thank you for this helpful info!
Post: Hi! Would love a mentor and some advice on what to do next.
- Real Estate Agent
- Columbia, SC
- Posts 5
- Votes 3
Quote from @Jaycee Greene:
Quote from @Adam G.:
Hi everyone!
I'm a real estate agent/investor genuinely looking to learn how to use real estate investing to create financial freedom for our family. We currently have a great income-producing property, and we are considering selling or tapping into equity and continuing to rent.
Would love some advice on what to do next!
Hey @Adam G.! Welcome to the Forum. Congrats on your current property. Is it located in Columbia? What's the current value and your rents?
So if money were no object, what type of property/price point/location are you drawn to? I'm trying to find out what you're passionate about in terms of real estate (in addition to making a lot of money!).
Thanks for responding!
Yes, it's in Columbia. Current value is $275k; we owe $120k. Rents long term for $2000/month; could likely gross $3500-$4000/month doing STR.
If money were no object, we would build a strong portfolio in Columbia of 3-5 properties before expanding to own vacation rentals in places we like to go; beach, mountains, ski areas, etc...
Post: First primary turned into college rental!
- Real Estate Agent
- Columbia, SC
- Posts 5
- Votes 3
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $135,000
Cash invested: $5,000
This was our first home! We lived there for a year before renting it out to college students.
What made you interested in investing in this type of deal?
It's a very prominent college market that rents per bedroom
How did you find this deal and how did you negotiate it?
It was listed by an agent and unavailable for FHA financing, so our conventional loan gave us negotiation power for closing costs and a new HVAC system, among other things.
How did you finance this deal?
Conventional Loan
Lessons learned? Challenges?
This was a great first property, and getting into it as a primary made it easier than expected.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I was the agent, and we used a traditional conforming mortgage through Guild Mortgage
Post: First primary turned into college rental!
- Real Estate Agent
- Columbia, SC
- Posts 5
- Votes 3
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $135,000
Cash invested: $5,000
What made you interested in investing in this type of deal?
It's a very prominent college market that rents per bedroom
How did you find this deal and how did you negotiate it?
It was listed by an agent and unavailable for FHA financing, so our conventional loan gave us negotiation power for closing costs and a new HVAC system, among other things.
How did you finance this deal?
Conventional Loan
Lessons learned? Challenges?
This was a great first property, and getting into it as a primary made it easier than expected.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I was the agent, and we used a traditional conforming mortgage through Guild Mortgage
Post: Hi! Would love a mentor and some advice on what to do next.
- Real Estate Agent
- Columbia, SC
- Posts 5
- Votes 3
Hi everyone!
I'm a real estate agent/investor genuinely looking to learn how to use real estate investing to create financial freedom for our family. We currently have a great income-producing property, and we are considering selling or tapping into equity and continuing to rent.
Would love some advice on what to do next!