All Forum Posts by: Amy Bates

@Troy Gandee, thanks for the insight.  I figured it would be a hot property, since the price keeps dropping.  All the best to him as well and we'll see what happens.  Take care!

I know that I have seen a local meet-up that is coordinated through Bigger Pockets, but I was curious if anyone had checked out any local REIAs in the Charleston area. I hear these recommended on Bigger Pockets often, but the Charleston REIA website is a bit overwhelming and has a membership fee. I'd love to hear if anyone has visited a meeting before going myself. Thanks for the insight in advance.

My husband and I are looking at our second rental property, a 3/2. It is currently being offered through HUD for $75000. The bidding for non-O/O starts this weekend. It was foreclosed a year ago at $103k and has gone under contract at least twice. Those contracts were cancelled due to "too much work".

There is termite damage in the house.  It would need new flooring, doors, some windows, drywall and trimwork.  However, HVAC looks to be in good condition, roof as well.  Good neighborhood in North Charleston near Charleston Southern University.  We would plan to rent, with comparable rents in neigborhood starting at $1100.  Comparable homes in the area are selling for $125k to $150k.  

Our lender is offering us a portfolio loan, 20 year, 5% interest, and we could wrap our repair cost into that mortgage, estimating $20 to $25k in repairs, most we would do ourselves.  

Does anyone have any suggestions for the HUD bidding process? We were thinking of going in with with an offer of $69k, with no closing fees included. However, with several previous offers following through, and being new to this, we weren't sure. Any thoughts?

We used Frank Hall for our last property down here in the Charleston area.  If he can't help you, he may know someone.  PM me if you want the number.

@Craig Leduc, Welcome to Bigger Pockets!  We are down along the coast, but let's stay in touch in case I'm ever looking to expand to the Upstate.  All the best!

Welcome Greggy!  I'd love to hear more about your mobile home management.  I'll PM you. 

Thank you and have best of luck going forward.

Welcome @Dante!  I'd love to hear more about your strategy and wish you all the best going forward.  

@Zach Gliddon, welcome to South Carolina and Bigger Pockets!  My husband and I are also getting into real estate further.  We have one rental property currently and looking to expand into the greater Charleston area.  Greenville is a beautiful area and I wish you all the best!  Stay in touch!

@Matthew Kabernagel, welcome to the area!  Best of luck with your future endeavors.  I'll send you a PM about our realtor as well.  I love to connect with real estate minded locals.   

@Account Closed, beautiful!  Thank you for sharing!  I love to hear stories like this.  All the best on your future endeavors!