All Forum Posts by: Coley Mitchell
Coley Mitchell has started 13 posts and replied 83 times.
Post: Line of Credit vs Personal Savings
- Investor
- Greenville, SC
- Posts 85
- Votes 17
HELOCs are a great way to get started. That is what I use for my REI. For comparative purposes, I was able to get one up to 90% LTV that was interest only for first 6 months then 4% thereafter. Given that you own your home outright im sure there is no need to do the full 90%, but even if you just get $100K you can do alot of damage with that right out of the gate. Good luck!
Post: OOS Looking for buy & hold in South or Southeast (FL,GA,SC,TN)
- Investor
- Greenville, SC
- Posts 85
- Votes 17
Originally posted by @Mark McMinn:
@Julie Sisnroy
First I’m very, very bullish on both markets! Affordability, jobs, and population growth are all on a continued “up”.
Atlanta is much more nuanced and I’d need to get a lot more information on what you’re looking for to give guidance as to where and what but there’s huge upside in multiple areas.
Greenville and the bed communities surrounding aren’t talked about NEAR enough. I’m in the midst of buying a quadplex for $235k that will rent at $900 per door. It’s within a mile of top schools, retail/restaurant, development, and a major hospital. The appreciation projects and cash flow in Greenville... VERY compelling
Wow @Mark McMinn... got on of those quadplexes for me??? 2nd his comments about Greenville. Progressive pro-growth city backed by a very job market. Many parts are still very affordable. Just closed on a fix and flip yesterday I bought off of MLS...
Post: Searching for an investor friendly brokerage in Greenville, SC
- Investor
- Greenville, SC
- Posts 85
- Votes 17
Originally posted by @Hung Nguyen:
@Coley Mitchell Yes. I've posted about the duplex. The triplex did not need any work, and was rented out before the keys changed hands.
The duplex was a good find since it wasn't listed as one. Actually had 2 seperate houses on same lot; the smaller house was listed as a workshop. Fixed that up, and renting out for $950. On the bigger house, getting finished with the attic conversion and hoping to refinance the end of this month. Do you happen to know of anyone doing refi's at this time?
Wow - great find. Congrats!
Post: Our 2020 Relocating Part 1
- Investor
- Greenville, SC
- Posts 85
- Votes 17
Nice work!
Post: Searching for an investor friendly brokerage in Greenville, SC
- Investor
- Greenville, SC
- Posts 85
- Votes 17
@Hung Nguyen - Would also love to learn more about your triplex/ duplex properties. Have you posted about them before? Those are not so easy to come by in Greenville. Well done.
Post: Searching for an investor friendly brokerage in Greenville, SC
- Investor
- Greenville, SC
- Posts 85
- Votes 17
Hi Hung - check with @Michael Smith with Bluefield here in Greenville.
Post: My transition from SFR rentals to Multifamily Investing
- Investor
- Greenville, SC
- Posts 85
- Votes 17
Good stuff @Arn!
Post: Investing in Greenville, NC
- Investor
- Greenville, SC
- Posts 85
- Votes 17
Does anyone have a link to the article they can share?
@Maddan Pun - The zipcodes he listed pretty much cover the greater Greenville area. Good map to view them here: https://www.zipmap.net/South_C...
Overall the Greenville market is hot but let's just say it isnt a secret anymore. Getting more and more difficult to find deals as all sellers have become intoxicated by the strong scent of quickly rising home prices...
Post: First Fix n Flip Deal in Greenville
- Investor
- Greenville, SC
- Posts 85
- Votes 17
Originally posted by @Justin Middaugh:
@C Coley Mitchell Looks great, congrats! Would you mind sharing your contractor? Thank you
Sure, its Bartron Builders. Jarrod Bartron is the guy there. His phone is 864-992-8200. Be sure to tell him I sent you!
Post: Cash Out Refinance Greenville, SC
- Investor
- Greenville, SC
- Posts 85
- Votes 17
Originally posted by @Justin Middaugh:
@James C Clark Jr. I had good luck with Bank of Travelers Rest in early 2020 for a cash out refi, but I’m not sure what the current situation will be.
Will second that advice. Have not worked with them directly but my partner who is in the lending business says he has had several clients have similar luck with them recently.