All Forum Posts by: Andrew R. Lucas

Dont miss out on our August Meeting!! (We have moved it to the second Tuesday just for this month!!)We will be hearing from Todd Lyle, Rochelle Hicklin and Krissi Wyss, all top realtors of the Columbia area. They will be hosting out panel on real estate agents working with investors on all sorts of deals!!Come with Questions and we will see you there!

 Hey Jordan

May I offer another view...  I think you should return the call.  They left you a voicemail and I just prefer to call people back.  

But MOST important is that you may learn something about your property manager that you didn't know.  You live a distance away and the PM deals with the property.  What if the PM is doing a terrible job of maintaining the property and picking terrible tenants for you??  I would listen to the neighbor and see what their issue is.  You could actually find an ally on the ground that could help you.  If the neighbor is "crazy" and just complaining for no reason then you would just tell them that you will pass the info along to the PM.  However, if they just want the best for their neighborhood and they have legitimate concerns about the management of your property, then you will never hear it if you Don't return the call...  

 That is a fine deal.  UNLESS, you have a regime or hoa fee that reduces that 1195 net rent amount to below $1,100 a month.  

See if PinPoint goes that far.  https://www.pinpointhomeinspec...

Or these guys are good too https://www.integritypropertyi... 

 @David Robinson You want to network with wholesalers and realtors that can bring you deals. REI Live Columbia has a meetup coming tomorrow. https://www.biggerpockets.com/...

You could try searching this site as well for deals.  SCDiscountDeals.com

Come Join us to hear from Vance Courtney this month!! He will be speaking about "Scaling by Systems"! You do not want to miss it. We also have a bar sponsor again this month with Rollins Pest Control! See you there!!

Hey @Emily Hime your story sounds amazing!  Its exciting to hear people getting started in this real estate business.  

South Carolina is my home so I think you are picking a great location :)

Private money is always the best if you can get it.  That will come from your own personal contacts.  People around you that have investment capital or under preforming retirement funds.  

If that is not an option, then you should look at a traditional bank for this type of deal.  It sounds like you make enough money to at least try the traditional route to get funding.  Your biggest hurdle here will probably be the fact that you are not a US resident.  I'm not versed in that issue, but hopefully someone here can help with that. 

Best of luck to you!  Reach out if you need help with the local SC market. 

Come meet us to learn about one of our deal partner flips! You'll get to see exactly what happen when partnering with Andrew to do a renovation project and investment flip! See you at noon next Wednesday!

@ashley 

@Ashley Murray Welcome to Columbia!! I'm from here and been investing since 2007. We run a great meet up called REI Live Columbia. Check us out on Facebook or our events here on BP. Our next meet up is Wednesday at noon.

One of our companies helps investors find discount deals in SC.  discountPropertySC.com is the place to go sign up for that list.  

We always buy in the LLC. no reason to put it in your name. The decision to use cash or financing is all up to you and your goals. The cash is easy if you have it, but limits your potential to leverage for scale.

You will never avoid capital gains.  You can hold properties and benefit from depreciation.  You should always keep good records and just be ready for some taxes.  Run your numbers based on paying 35% to the government and keep that money in a separate account.  

Hope to meet yall soon!

@Joshua Briscoe I'm here in SC and my gut says to sell. We have a great market to get the maximum out of your property. We don't keep single families unless we can cash flow closer to $200 (if financed). Yours sounds like a slim deal. I would consider keeping it if you were further along in your mortgage, but being just 4 years in means you are not paying down much principal anyway. Mine as well take the cash even if at a overall loss and reinvest elsewhere. Remember, paying off a 15% credit card has an immediate ROI of 15%.

Best of luck to ya!!