All Forum Posts by: Chad Carson

$59,500 or best offer. Solid, low maintenance rental that is move-in ready. 

403 Barton St, Easley, SC 29640

Large (1450 sqft), 2 bedroom, 1 bath in Easley, SC historic Glenwood Mill neighborhood. Convenient to historic downtown shopping area, and just a short 10-15 minute commute to larger city of Greenville, SC.

Updated around year 2000 with new vinyl siding, flooring, heating and cooling system, windows, kitchen, bath, and a roof.

Backyard is fenced in, with shady oak trees, a workshed, and a privacy fence.

Prior long-term tenant was $550/month. Market rent potentially $600+. 

Pictures at: http://postlets.com/s/403-barton-st-easley-sc-29640/4413645

On lockbox. Give me a call, text, or email if you're interested.

thanks!

Chad Carson

864-506-0017

Welcome to BP @Zach Upton. I am a Clemson University grad as well, but I stuck around Clemson to do real estate investing when I graduated in 2002.  I like your strategy of getting a license and learning construction. You're working the fundamentals of the business. I would add to that real world finance education, and you've got a pretty good foundation. Save up some money, turn some deals, and keep rolling. 

See 'ya around the site.

I wish you the best of luck.

Dr. Stanley influenced a lot of individuals with his ideas, both directly and indirectly. I have found the simplicity and power of the findings of his research to be personally very empowering. Thank you for your contributions, Dr.Stanley. RIP.

Bill Pohl this is a great thread. Thanks for the detailed analysis. Question for you since you have done so much research ... We are considering switching from just using a customized Quickbooks solution for property management (since 2008) to Buildium. We have 65 units, and we currently use quick books both for our management company and the holding company of the properties. We would continue using qb for the holding company. The deciding factor for me between QB and something like Buildium is the integrated nature of all the different features. I would like to handle marketing, tenant screening, lease paperwork, maintenance requests, etc all in one spot. But I am not looking forward to using something other than quick books for accounting. Do you or other Buildium users here download data to Quick books? If so, how easy is that integration? How do you separate tasks? Any other issues you can think of on the switch from Quick books to Buildium?

@Bill Gulley

@Leo Goykhman congrats for thinking about your plan to move forward. @Andrew Davis 

 already linked my blog article about 7 steps to quit your job.  But I'll address here specifically what which steps to take first in your case.

My personal experience was that the biggest confidence booster was having a money person behind me to help with the initial offers. My first year right out of college was spent being a birddog for one investor who bought rentals and flips.  He had cash, and he could tell me exactly what he was looking for.  When I bought him a deal, I made some money.

You've got to leverage your strengths and team up with someone who has what you need (money, experience, expertise) but who needs what you have (drive, marketing/sales experience, time). Finding that person or people is the trick, but it could start with networking on here and then continue networking in person at local investor meetups and REIA's. I also think getting your license makes sense because it gives you another way to get paid and you will get some good, core real estate education (both the classes and from a good broker if you find one).

In the meantime, it never hurts to take some action on the steps I mentioned like 1) Getting your mind right 2) Education 3) Create a short and sweet business plan.  

I'll share my steps 4-7 in my article next week on the blog. Hope to have a good discussion with your there, too. 

Best of luck!

@Nana K. Try First Citizens Bank. They are a local South Carolina Bank and based in Columbia. 

My experience is that it's more than networking to develop a relationship. I think you have to start doing some business with them. Add value.

So try opening up checking accounts, getting a credit card, etc. Also tell them your business/real estate plans, and tell them you intend to earn credibility so that you can do some real estate borrowing with them. 

I think they'll appreciate your slow and steady approach, and not showing up day #1 asking for money.

Good luck!

Jonathan Twombly Congrats! I am in South Carolina in Clemson. What made you choose South Carolina for your purchases? Just curious for a market point of view from someone outside the state. Also, tell me what you are looking for in case I come across something.

Bryan A. , my tax lien purchases that resulted in a tax deed have all been kept as rentals so we have not felt the need to do a quiet title action yet. I do have a local South Carolina real estate attorney who has experience doing them.

@J Scott I read your book earlier this year and used your method to mine data in my target zip codes.

I was shocked at the difference when comparing different zip codes using your distressed/retail ratio.

My best long-term hold zip code stinks for flips because distressed sales go for too much. So in this zip code I try to buy multiunits which cash flow better and I also buy creatively financed SFH when I can for long term amortization and appreciation.

In the other areas outside of this zip code, your distressed/retail ratio was much better, and we've concentrated there and found some good flips this year. 

Thanks for the great tip! The date mining has been very helpful to focus our strategy.