All Forum Posts by: Troy Gandee

@Charlie Tunstall myself and a many of my colleagues use Justin Welch with AccountFin for our taxes. He does cost segregations frequently for us. You can reach out to him, but I do know he's pretty swamped now with clients, so he may not have any openings for new clients. He can probably refer you to someone, though.

@Andrew Merritt I don't normally recommend a blanket or portfolio loan for residential properties. It's just too cumbersome to separate an individual property from the mix to sell. One of the big benefits of residential SFD and multifamily is that they're easy to liquidate. If the value spikes in an area and you want to sell, you can do it fairly easily and then reinvest your proceeds elsewhere. With a blanket loan, the lender will have to re-collateralize the loan if you want to sell one. It's not far off from a full refinance to re-collateralize even 1 property out of the blanket mortgage.

@Kevin Sellon You should definitely come to one of the events to get plugged in. We just decided to take January off, but we'll be back together February. 

@Kevin Sellon SC Fed used to be the bigger one. They've recently changed to Rev Credit Union. I don't know that they're investor friendly, but they're a general good institution. I personally really like Beacon. They're super small. They recently did a loan on a 14 unit apartment for me.

@Marielyn Oliver Most agents aren't very familiar with investing. It's always best to work with an investor friendly agent. Many say they know investing, but if they don't do it themselves, they don't really know the ropes. It's also still an extremely competitive market, so it's just inherently a very frustrating process. You just have to keep at it and the right one will click.

Join us for our December REI Central event. REI Central is a monthly real estate investor's meetup in the Charleston area. REI Central was founded by Maven Realty and Clear Vision Coaching. Our organizations was designed to be more affordable, less pitchy and more welcoming to all investors. We welcome investors of all experience levels! Whether you're brand new or a seasoned veteran, we would love to network and learn with you. Our REI Central meetings are held every 1st Thursday from 6pm-8pm at Palmetto Brewing Company located at 289 Huger St Charleston SC 29403. These events usually include a short learning/education portion with guest speakers, small groups for discussion and Q&A sessions and an open networking platform to meet and share resources with others. We hope to see you next month! To purchase tickets online, please visit www.rei-central.com. Tickets can also be purchased at the door. Cost of entry is $25 per event or $100 for an annual membership.

@Joseph Wright I'm not a contractor, but I broker a lot of properties and manage a lot of rehabs with my properties. In my opinion, none of those are significant issues. Truss issues are usually a matter or adding 2x4s here or there. It's not typically a very expensive repair unless there is a lot of damage or rot to rafters or purlins meaning the roofing system needs rebuilt. If it's just a damaged truss here or there, it's usually a few hundred dollars. 

I'm brokering a 600k house right now. The buyer's inspector made a big stink about 2 "faulty" trusses. Turns out, one just needed reattached to the structure, which was a matter of a nailing it back in with some OSB as bracing. The other issue was an old temporary truss the roofer forgot to remove. The buyer almost blew that deal up and it was literally a $200 fix when we got someone in there who knew what they were doing.

In the first photo, I think you're just missing some bracing or ties. That may not have even been required at the time of construction. That's probably just going to mean adding some 2x4s. 

The missing truss will be a little trickier, but that's not an uncommon repair. We see those components removed incorrectly for HVAC often. A contractor can probably replace that one at a different Ange or increase the supports at the nearest trusses to compensate. Either way, it's not an anomaly. 

The mold doesn't seem like a concern to me. If it's green(ish), it's not likely to be black mold. It's likely more mildew than mold. As far as mold goes, green is better than black!

It all depends on what you're comfortable with, but these items wouldn't stop me personally from buying if it's a good deal. You're probably looking somewhere between 1-2k depending on the contractor. 

@Ryan Okun-Ajose We host a monthly meetup the 1st Thursday of each month called REI Central. We usually have 50-70 investors in the room. Feel free to come by to meet other folks in that space. We have a lot of vets in the room.

@Zach Woods I usually use NREIG. They only do investment properties. 

@Jason Hirko I have not seen that they will include any kind of grandfathering. They're not really going to have any specific zoning, so it will be more a matter of overall compliance and less about zoning. Most people should be able to comply with the rules other than multifamily STR operators. They'll be the hardest hit. As well as those who have large properties that they Airbnb, but that's really why they're regulating now. People were allowing massive parties to stay causing noise and parking issues. There were finally enough complaints to make it stick. I live in PC and have an STR, so I personally appreciate some regulation. Some of these places were operating like a frat house.