All Forum Posts by: Jason Blondin

Hi Kyle, sorry its taken so long to respond. I just sold my house hack today! I have two SFR's with solid tenants so far. I did not find a good contractor. I had to do a lot of sweat equity, and do most of the GC stuff myself. The market is just so hot for new builds out here that no one wants the smaller jobs I can find. I did well on the sale, doubled my 30k investment, so I feel pretty good on that. The rentals are both cashflowing 1-200$ a month with property management.

You are at market rate.  I havent seen much better, and if it is, they are not good.  

Yes, they do.  There is a large student population for SCAD (Savannah College of Art and Design).  So if they are near downtown, walking, safe, they rent well.  However savannah is street by street.  Its hard to tell what is safe and what isnt.  Also, the age of the homes is old.  So you have lots of gremlins to worry about.  Parking is tough as well.  

Im moving to lexington hopefully in a few months as well. Im buying, SFR, MFR, etc. Im also looking for a nice owner occupier live in flip. Please sent me PM if you have deals. I also added myself to the facebook request, waiting on acceptance.

@Timoteo Guy sure, not a problem.  

Savannah is charming, warm weather, lots of students and vacationers.  Savannah is growing due to port expansion, low taxes, and baby boomer migration.  That's the good.  The bad is savannah has a horrible crime issue that no one wants to talk about.  Gang issues, drugs, etc.  A lot of poverty and low employment folks on the fringes of the small city. You really have to know the area well to find a safe pocket to invest.  Tenant turnover may also be high.  Just my thoughts.  I invest in Pooler, port Wentworth, and guyton.  Newer startup neighborhoods.  

Hi Kyle,  

I can recommend a mortgage broker for you, however, the few little rehab things you mention hardly suit needing a 203k loan.  The costs associated with those are not worth it for small rehabs.  I think you would be much better off doing a conventional loan if the home is suitable for a fannie/freddy loan, and borrowing the rest on a second mortgage or privately.  What area is the home in?  Do you live here now?  

I have done mainly cosmetic or sweat equity.  The guys I have used and liked are Angell Villa (tile work, painting), and Javier Blanco (Painting, flooring, roofing).  

I would second the EMRICH pro statements above.  I have not had much luck finding anyone in the area who isnt either super busy, or can complete a job.  Savannah is feasting right now.  

I had good luck with Williams and Pine LLC off of abercorn closing a refi of mine yesterday. I worked with wallace, he owns 15 of his own rentals, he seemed to be very knowledgeable.