All Forum Posts by: Jeremy Wirths

@Ron Turner I am not intimately familiar with SC markets but I do know that Charleston has a lot of growth going on and North Charleston seems to be a good spot to look. Myrtle Beach is always been a popular destination and might be a good fit for your STR model. But make sure you check the local regulations regarding STR's to see what might be a favorable market.

@Alex Martens it is entirely possible and highly encouraged! I recommend you check out @David Pere and his Military Millionaire podcast, YT channel, IG, FB page, he also has a REI Mastermind group, and he is an active duty Devil Dog himself. There are a ton of resources out there for service members and REI. @Michael Glaspie has a podcast called 'Military Cashflow' There's also the Active Duty Passive Income platform. 

So yes, it is doable. 

If you can't find one, start one!

I second what @Joseph Firmin said. If there are no multi's are there any SFR's with ADU's? If not, have you considered BRRRR'ing a SFR and renting out rooms?

@Dustin Moreland Have you looked at the specific Mobile Home Forum that is on here? You should be able to find your answers there

Setting up the structure with a family member is flexible. You could do it either way you mentioned or a combination of both. It's whatever you agree upon in regards to terms. Once you decide that you will have an attorney draft up a promissory note with the terms on there. You'll want to do this to protect both of you. 

Using HML you'll want to be in and out of the project as soon as you can and not have a lot of holding costs. To my knowledge HML's (at least around me) will charge 10-12% + points.

@Aaron Daniel What have you done to find people with experience? Have you attended any local meet ups? Have you set up keyword alerts on here that are local to you and observed who is on there posting?

I would think house-hacking a multi would be your most favorable investment, especially if you are planning on moving for a while. Some other resources for you: White Coat Investor, Physicians on FIRE on FB, and Wealth Formula podcast (host is a former surgeon and now full-time investor) 

Are you able to rent out your current house at a rate that you would cashflow? Or at a minimum break even? Have you run comps to see what you think it may appraise at? That might give you some idea of where you sit should you refi. 

@Mintida Thongsawang what is it you are looking for in regards to help? The three different roles you mentioned can have three different ways of helping.