All Forum Posts by: Andrew R. Lucas

Don't forget about the Olympia area.  I bought my first home there after graduation and have been renting it out 8 years with cash flow and practically Zero vacancy. 

@Jake Ross has it correct.  Make absolutely sure you post the proper notices on the door.  I would even take a photo for your records. 

You can still be kind to the occupants, but remember if you don't start the eviction process now then it will just get harder and more costly for you and them. 

There are plenty of success And failure stories with mobile homes.  Do your homework!  I would warn you that Columbia has seen a surge of apartment complexes.  We have seen thousands of rooms added to the market.  So be aware of where those homes are located and what potential impact they could see from the downtown building boom.  

@Brandon Spence I agree with @Will Gaston.  He and I both rent homes in that area and I can almost guarantee you that you will not get a student in there until May.  However, $650 would be a great price for the students and you could fill it quickly.  If you are able to cash flow after renovations at that rate, then it sounds good to me.

Let me know if you'd like a second opinion on renovation costs.  I work on campus. 

Andrew 

Thanks @Will Gaston! 

3 in Olympia and 1 in Camden.

I, Andrew Lucas, have been slowly investing in Columbia, SC since 2007.  I've completed 8 total deals so far including flips, rehab and hold, and tax sales.  Real estate is my "other" job at the moment.  I do work full time in the hospitality industry, but am blessed with a wife that has taught me how to manage my time efficiently.  I've been studying Columbia as a market for over a decade with both of my jobs.  I'm currently looking for flips, and wholesales.  I would also like to add 1 multifamily rental to my portfolio this year.   

Do you have clear title?