All Forum Posts by: Wendell Godard

Thanks for reaching out.  Looking to reloate later this year, early next year. Keeping my eye out for a rental or two that I may purchase prior to moving.  All depends on if I can make a trip out this fall.  Thanks again, I will reach out when time gets closer.

As an investor in SC how do you approach the 6% assessment ratio for non-primary residences?  This more than doubles my property tax for my Greer rental adding about $4k per year.  Crazy but I guess it's the cost of investing in SC.

Thanks Jared.  I've been looking at various properties in the Spartanburg area. Do you invest in Myrtle Beach or throughout SC?

Greetings 

I am presently running a mid-size construction company in northwest Washington State and retiring at the end of 2025. We will be moving to Greenville, South Carolina where I intend to invest in BRRR's and fix & flips.

Looking to connect with investors in and around Greenville, SC. 

Yes, I will keep it as a LTR for the forseeable future.  I plan on investing in additional properties for both LTR's and flips after we relocate.  Compared to Washington state property in SC is much more attainable. 

Yes.  We presently live in Washington state but will be making the move to South Carolina early next year.  We wanted to get into the market early to build equity.  Fortunately we have good renters.  The South Carolina 6% property tax rate on 2nd homes is nasty - we paid $6500 for 2025 on a townhome valued at $285k.  

Investment Info:

Townhouse buy & hold investment.

Purchase price: $285,000
Cash invested: $285,000

3 bed, 2.5 bath, 1600 square foot new townhouse. Same renter has occupied since September, 2022.

What made you interested in investing in this type of deal?

Purchased as a rental.

How did you finance this deal?

Originally put 20% down but paid it off after 2 years.

First determine who actually placed the lien. Hopefully it's not just the tip of the iceberg.  It is not likely the general contractor - most likely a subcontractor or supplier who provided labor and/or supplied materials for your property.  The subcontractor/supplier wasn't paid in full and their only recourse is to lien the property.  You have a couple options (please don't constitute this as legal advice).  You can pay the amount owed to the general contractor but issue a joint check to ensure the check is paid to the party who issued the lien.  Secondly, you can pay the party who issued the lien directly.  Thirdly, inspect the lien to ensure it is actually legal.  Their are numerous laws that govern liens - lien rights expire if not placed within certain time lines - check that out too.  Lien laws are different in each state.