All Forum Posts by: Andrew R. Lucas

@David Bergmann check out our Columbia Meet up on 9/11

https://www.biggerpockets.com/forums/521/topics/61...

Come meet some experienced investors who may have more insight for you.  

Tuesday the 11th at noon at the Inn at USC. I'm ordering pizza!!

Bring your own lunch if you want. Please let me know if you can come so i can make sure we can get enough participation.

Don't forget your deals, questions and business cards for some solid networking in Columbia.

Inn at USC Wyndham Garden

1619 Pendleton St, Columbia, SC 29201

Parking lot entrance is off of Pickens St. Parking is free in the flat lot for meeting attendees. 

@Krista Dunn here is an example that I put on another forum....

There are many other people better qualified to give the full low-down on the tax calculation but here is my best try:

When a owner moves out the assessment goes from 4% to 6%. That property also loses the School Tax Deduction. That was a law passed a few years ago that gives owner occupants a deduction on school district operating costs. So the deduction basically reduces the millage rate. This is for Richland County. I don't know about other counties. Example...

$100,000 taxable value.

$100,000 x 4% (owner occupied) = $4,000 Assessment

$4,000 x .260 (district millage rate) = $1,020 Tax amount

$4,000 x .130 (district millage discount) = $510 property tax relief

$1,020 Tax amount - $510 property tax relief = $510 Property tax for owner occupant.

$100,000 taxable value

$100,000 x 6% (Non-owner occupied) = $6,000 Assessment

$6,000 x .260 (district millage rate) = $1,530 Tax amount for Non-owner occupied

Here is your 1 hour warning!!

@Michael Lee I'm looking forward to hearing about this!!

Make sure you have 8/14 at noon on your calendars.  

I'm excited to hear some of your goals for the year. 

@Ben Hutto welcome to the forums!  Great way to learn and connect with other investor.

5 points area is still hot but has the highest rent demand.  Don't abandon West Columbia too soon.  There are still cash flowing deals there

See you there @Russ Scheider

@Adam Odom link to the 8/14 meet up is below.  Noon at the Inn at USC again. 

https://www.biggerpockets.com/forums/521/topics/59...

Link for the next meet up is below:

https://www.biggerpockets.com/forums/521/topics/59...