All Forum Posts by: Mark H. Porter

Contact @Chris Rosenberg.  He’s picked up the REIAs here in horry county.

hi folks, cant you host a free zoom account for up to 100 folks?  You're limited to 40 minutes, however.

It’ll be a lot easier under your personal name.

Dhana -call Justin Lee at CCNB in Myrtle Beach.  He also handles North Carolina and has done commercial loans before.

The 25 year may be a bear. 75% LTV is the norm. The 5.5% seems high unless you're using an LLC for the ownership.

I have the Honeywell T6 thermostats everywhere which hook up to wifi and let me control them through my phone.  Nothing I know of monitors the health of the systems though.

I also have cameras in each property that I can monitor on my phone but nothing tells me whether the camera system is good or not, just if it’s up or down.

I would find a great realtor who is willing to do the legwork of gathering all that stuff.

I have realtors in Vermont, North Myrtle Beach, and Anderson , SC who vet the physical and zoning aspects of the properties before I even set foot on the place.  If it doesn’t pass muster with them then I’m not interested.

Lionel, I live up in Burlington and through 53 apartments never had a separate business.  It makes little sense nowadays as it will all til back to your social security number and you’ll just be reporting a schedule E in the same return if you rent the place in killington at all.   just get an umbrella insurance policy if you want extra coverage.

Why even bother having a separate bank account? Just use solid accounting practices, or third grade math, to keep business income/expenses from you r personal stuff.

Austin, I 1031’d three properties in Vermont into two properties here in North Myrtle Beach.  The 20% seems quite high for the rental company considering you’re at $136M - I would negotiate that in half.

Pool care consists of 2x weekly in the summer and can be taken down to 1x weekly in the winter.  I would budget $400 per month for care, if you decide to heat it I would add another $250pm.  Renters would pay that, though.

$350 per month might be low.  The summer AC can be quite high with renters pumping it down to 65 for the hell of it.

And @Austin Vandy, my LTR here in NMB is on a Golf course is assessed at $204M and my property taxes are less than half yours.  I wonder why?