All Forum Posts by: Account Closed

Jay Hinrichs sorry to hijack the thread, Jay, if you don't mind me asking, who do you use for marketable title searches in SC? Thanks Patrick

If you choose to invest in a REIT ETF, study up on what the REIT is composed of. Given the rising interest rate environment we should be seeing over the next 5-10 years, some of these REITs will see declining values which will hurt the 10%+ dividend rates they pay.

Thanks for the responses everyone! @James Gardner I will PM  you soon! @Alex Franks its actually just outside the city limits, which is another bonus as far as not having to deal with the RH zoning dept.  I will be sending you another PM too!

Alex Franks your team did a great job on the country club house. Really like the kitchen and bath designs. Really nice shower too! If it was on the York side of Rock Hill I'd probably make you an offer! PM me your tile guy if you're willing to share.

I'm looking at a property that currently has partial commercial zoning and the rest residential zoning. I'm considering buying, building my primary on the back residential portion and holding the commercial for long term investment as town is expanding out towards this property. But the portion zoned commercial only accounts for 15% of the total tract. This property has been on the market for a while, several years in fact, and the price has been cut about 20%. I've never purchased a piece of land and am wondering what all questions I should be asking as far as is the commercial portion even developable? Could I possible be able to rezone some of the residential and make it commercial? Commercial acreage is already going for roughly 75k per acre. From the current price to me it looks like you're only paying the going rate for the commercially zoned portion and you're getting the other residentially zoned portion for free, which makes me think I'm missing something about the viability of the commercially zoned part. Any help or guidance as to what I should be asking to determine the value, or what things I need to be cognizant of that can kill commercial viability of land. Thanks Patrick

No, the bank does not have to accept your offer. Banks can and do hold on to properties for years on end at times. Regardless of offers received.

What about taxes, insurance, vacancy, repairs, and capex? On my first rental, I was just out of college and totally in the dark as far as these expenses, I took into account taxes and insurance, but don't forget to save the market %s for vacancy, repairs, and capex. It may decrease your cash flow initially to $100-$200/month, but you'll be glad you saved when a condenser goes out. Either way, I'm from Simpsonville and Greenville is definitely a hot market! Congrats

I'm going to second Alex's last bit about a rock hill meet up. I've reached out to a few folks on here. Would love to get a meet up in Rock Hill going.

I'm in Rock Hill SC. Also have a rental in Columbia, SC. Currently finishing up my second flip in the rock hill area

Not saying this won't work, but is there not a big assumption here that it will be ok for rents to increase basically in perpetuity? Markets rebalance. My $100,000 cookie cutter starter home rental will never be worth $500,000. Unless of course we have incredibly horrific inflation and there will be bigger issues at hand at that point.