All Forum Posts by: Account Closed

I am looking for an investor-friendly agent in the Greenville, SC area.  Someone who knows when a potentially good investment property comes into the market and who is attentive.  Someone who knows the Greenville area extensively.  I am looking to buy many properties in the 50k-70k range around Greenville over the next several years.  I am looking to build a long-term business relationship.  I plan to buy my first property next month.   Please let me know if this describes you and you are interested or if you know someone who may be.  Thank you.

Do apt units appreciate less than a SFH in the same area?

What are y'alls thoughts on buying a single unit in an apartment complex to rent out?  Is it a good investment?  I see how it could save money on capital expenditures (don't have to pay for roof repair).  What are some pros and cons you can think of?  Please feel free to share your experiences if you have purchased a unit.

Do most lenders write loans for the purchase of a MHP? Is it as easy as getting a loan for a SFH? Is the typical down payment 25%?

Ok, so I am graduating this May and begin working 5 days after I walk.  I will be working in Greenville, SC where I want to begin my investing career as well.   With that being said I have little time to find an apartment to rent/house to buy.  However, property taxes in Greenville are way too high so I will be buying properties in the surrounding areas.  I can't decide whether I should just go ahead and find an apartment to rent out in Greenville and then begin purchasing investment properties.  Or if I should buy my first investment property outside of Greenville and then live in it while doing minor work to it to make it rentable.  Once I finish rehabbing it and save enough money for another down payment move out and rent the unit, rinse and repeat.  

Obviously each situation has its own pros and cons.  Such as living closer to work in the apartment but my monthly rent goes to "nothing" versus if I had a mortgage it would be building equity.  Also, if if I go ahead and buy my first property I would lock in a better rate because it would be O/O. 

If anyone out there has been in a similar situation that would like to share their experience that would be great.  Or if you haven't but have some advice I'm all ears.

I am getting ready to begin my search for my first rental.  I will be living in this house for a few months before turning it into a rental.  During my time living there I will rehab it and make it more desirable for the tenants.  My question is: is the demand for a 2 bathroom home worth the price difference compared to a 1 bathroom home?  In other words, is it worth it to buy a house with 2 bathrooms instead of a house with 1 or 1.5?  I heard the difference in rent is not much and it is still fairly easy to find a tenant for a 3 BR 1 bath home.  Anyone with experience want to share?

For those of you who work 40+ hours a week, how do you go about locating those new deals as they come on the market? Are you constantly checking the MLS or is it better to have a real estate agent to call you about a certain property if they believe it is one that would interest you (assuming you explained to them what type of property you were looking for). I find myself wondering how to be the first to jump on a deal to better my chances.

@Brent Coombs, you are right about the 4 units. But I wonder if you could still get the loan approved for a park with 2-4 units and then add trailers during the year? That is, if its possible to get a FHA loan for a trailer park at all. Thanks for the input!

Is it possible to get a FHA loan for a mobile home park if you plan on living in one of the homes for a year? If not, are there any similar routes one could take to acquire a low down payment loan?

@Pavlos Kasselouris,  how much does it cost to have an attorney do a title search on a property?  I see that you have been looking for over 3 months.  I don't know the standard rate of a title search, but does it not get pricey over the 3 month period for those properties you never acquired? Good luck on your investment BTW! Looks promising!