All Forum Posts by: Teresa Rex

Thank you!

Does anyone know a good real estate agent in Myrtle Beach SC that is experienced with finding profitable STRs and that also has the experience of owning an STR?

Thank you!

My husband and I want to get into STR. We are looking at beach front condos on Florida's central coast Atlantic side, and also the Emerald coast. Are these areas too over saturated with STR Condos to be profitable? Our budget is only $440K, will we be able to find a condo in that price range that will consistently rent well?

Does anyone know a good investment realtor familiar with either of those areas that they would recommend?

Help and suggestions are greatly appreciated.

I am planning on another single family, or duplex (if I can make it work). I have $240k to invest

Investment Info:

Single-family residence buy & hold investment in Taylorsville.

Purchase price: $250,000

4 Bedrooms, 2 bath. Part of purchase agreement seller paid for new roof, water heater, and furnace when I bought it. My renters are fantastic-pay on time and take good care of property

What made you interested in investing in this type of deal?

Teaching is not a high paying job. I need to increase my income.

How did you find this deal and how did you negotiate it?

Through a realtor. Was not happy with the experience.

How did you finance this deal?

Conventional

How did you add value to the deal?

Add central air conditioning

What was the outcome?

Rented it shortly after purchase and they are still renting it. I manage it.

Lessons learned? Challenges?

Find a realtor that wants to help you make the best deal for you, instead of wanting to make a quick profit. I would not use this realtor again.

I am brand new to BiggerPockets and hope you can help me. I have a single family rental with $350/month cash flow, it is my only investment property. The property is in the lower price point (first time buyers). I would like to use a 1031 exchange to buy a better property in a better area with better cash flow.  I have never sold an investment property before. I am aware of the 1031 exchange's 45 day window to identify properties.  Should I find a new property and put in an offer before selling my rental, and make the offer contingent on selling my rental? Should I sell my rental first and then find and put in an offer on a new property?

Also, is using a realtor the best way to find a replacement property at a good price?

I appreciate any advice you can give me.