All Forum Posts by: Russ Scheider

@Tim Taylor welcome to BP.   I have found this to be a great vehicle for effective networking.

Hello @Mike Johnson  Good to know you.  I am working in limited partnership with a realtor currently and would be happy to do it again.  Lets talk soon.  I look forward to hearing from you.

@Wes Disher  We occasionally get leads in Sumter from our radio ads.  I will hit you up if I see an opportunity in your area.  In the meantime, I suggest you listen to the BP podcasts and read every investment book in your local public library.

@Danny P.  Please send me a private message.  We have done double closes with a closing attorney in Charleston.  I can give you his contact info.  I would love to have a brief phone call with you to discuss your experience in the business.  Always willing to help a fellow investor and always interested to learn something new.

As a full-time professional investor in Charleston I can say to @Leslee Cook "The struggle is real!"  You assessed the 2015-2016 Charleston market quite well.  We are making our living in the dark corners (niches) of the market right now.

@Lyn Heron

When evaluating the Charleston area, be very mindful of the characteristics of individual neighborhoods. My assistant ran comps today on properties that were in 2 different neighborhoods 1 mile apart. My instinct told me that something was amiss, so I checked her comps. She had mixed 2 neighborhoods that are vastly different, giving me an $85,000 ARV for a house that I would be lucky to sell for $40,000. The average cost per sq ft in one neighborhood (war zone 'hood off Rivers Ave) is $36 and the other neighborhood (Park Circle) is $150. a 1100 sq ft 2/1 house in one neighborhood is worth $40,000 and 1 mile away an 1100 sq ft 2/1 is worth $160,000. Houses of the same age and same style in the same zip code. @John Semanchuk or @Joseph Jurcak will vouch for me as to the mixed nature of real estate values in our fair city.

@Lyn Heron Hello and welcome.  I would like to buy some of your wholesale deals.  Look forward to meeting you soon.

@Jay Hinrichs I had an email conversation with the owner of the 2 "skinny" aforementioned lots in Park Circle earlier this week.  I also met with an investor on Friday (yesterday) looking to unload a different property in Park Circle that may interest you.  I don't do new builds and it is beyond repair.  Please call me during business hours this week and I will give you the 411 on what we have going on, including activity in Union Heights.  I would love an update on what you and Troy are working on as well.

@Jonathan Twombly The information and guidance you share in your blog is very timely for us.  My wife and I intend to buy a multifamily property in 2016, probably in SC or NC.  We are involved only in single-family transactions now. I will keep in touch.  Let me know if you have any interest in the Charleston, SC market.  We have some pretty valuable connections.  I will gladly give feedback on your blog and ask questions as we move along. I am grateful for you and your blog!

Good stuff!  Thanks for sharing