All Forum Posts by: Russ Scheider

Click on the link for photos and details.  Call me for lockbox code (843) 302-1936

https://postlets.com/s/2409-spruill-ave-north-charleston-sc-29405/15411375

@Melissa Searing Happy New Year!  I am planning to organize another Investor's Happy Hour in early February.  We will see you then if not before.

@Kyle Harper My wife is from St Louis.  We lived in Wildwood from 2006-2011.  Just got home from a Christmas visit yesterday.  We should get together after you move to Charleston.  Keep in touch.

@John Semanchuk is a solid guy and I recommend him as a realtor. 

We often find that mortgage satisfactions are not properly filed and must be tracked down when the deed/title changes hands.  I find mortgage searches to be a "best-guess"

@Skip Gilliam  My wife Natalie and I are full-time investors in Charleston.  I quit my J.O.B. in 2014 to work with Natalie full-time.  Within the next 2 years, we plan to expand our business to Beaufort County.  My entire family lives in Bluffton and Beaufort.  I worked on Hilton Head for 12 years. We could be a good partner/associate for you in your RE business.  Keep in touch.

Looking for deals in South Carolina.  Specifically Charleston Area.  West Ashley, James Island, North Charleston, Summerville, Ladson, Goose Creek.  Hanahan, Moncks Corner, Mt. Pleasant, Sullivans Island, etc.

@Account Closed short answer is "Yes". I quit my 100k job in 2014 to join my wife's tema and buy houses full-time. We have bought/rehabbed/sold or assigned contracts on 35 properties in Charleston area within the past 2 years. 10-15 of those properties are in West Ashley, James Island, or Park Circle. We have never bought (or put a property under contract with the intent to assign) with less than 30% equity, and we usually get 35% equity. It takes an enormous amount of hustle, a large marketing budget, and excellent negotiation skills, but that is what we do. The inflated market just means that we have to invest more in marketing, hustle more, and negotiate harder. My team made over 1500 offers to score those 35 high-equity property purchases. Charleston is a TOUGH market right now on the buy-side. Several of my local investor friends are looking at Columbia, Greenville, and Charlotte now because Charleston is so competitive, and sellers know they can put nearly anything on the MLS and it will sell. You have my phone number if you want to call me to discuss further.

The average cash-buyer will pay $240,000 x .70 = 168,000 - $50,000 = $118,000 maximum for this house.  In our business, it costs money to get into a property (closing costs), It costs money to hold a property (interest on borrowed money or opportunity cost on our money), it costs money to rehab (usually more than we think) and it costs money to sell the property (commissions and closing costs/buyer concessions).  In a rapidly rising market, some investors will pay more in anticipation of appreciation, but I call that "gambling".  Just my 2cents.

https://postlets.com/s/3310-florida-ave-north-charleston-sc-29405/15282810

Please contact me with any questions.