All Forum Posts by: Will Graves

Would you be open to sharing some high level numbers here? I am exploring the possibility of buying a vacant lot that's zoned for commercial use and building a trailer & boat storage facility.

@Mike McCarthy Thank you Mike! We have our inspection today actually and should receive that report soon. Great tips regarding city & state landlord tenant laws & screening Q's. We will be sure to familiarize ourselves with those. 

Hi BP community, 

My fiance and I just purchased our first rental property in Charleston, SC. We paid all cash for a 2BR, 1.5BA townhouse about 10min from downtown. It's in great shape / turn key. We setup an LLC and will transfer the title there. I purchased Brandon Turner's Property Management book and plan to read that ASAP.

However, any additional advice as to how we can best set ourselves up for scalable success? Specifically, where can we find a comprehensive draft of a leasing agreement? Anything else we should be doing proactively? We close next month and will immediately start accepting applications and screening tenants. 

Thank you!

Best,

Will

I am looking to buy an investment property in Charleston, SC in ~6 months time. My girlfriend and I plan to move down there and we'd love to house hack a duplex in Charleston proper. I plan to leverage an FHA loan as an owner / occupant and put 5-10% down.

I understand the difference between pre-qualification and pre-approval for a mortgage. However, when should I begin talking to lenders to get pre-qualified? Is it too soon?

Additionally, when should I then pursue formal pre-approval?

Thanks in advance for any information and guidance!

Thanks all! This is very helpful. @Brendan Markle appreciate the direct feedback on licensing!

@Evan Polaski noted on the goals piece. My goal is to invest in multi-family (duplex's & triplex's) for long-term rental purposes. Interested in flips as well, but not right away. I plan to self manage the first 1-2 properties then work with a property management firm. From a lifestyle perspective, I envision this as a lever to achieve early retirement (retire at 50 with $10,000/mo in cash flow). I do not plan on this becoming my primary source of income until then.

@Abel Curiel Love the idea of house-hacking in the near term!

Thanks Adrian, Greg and Charles for the insight. To summarize, sounds like the most important first steps are identifying a goal, establishing a target market (one that I know well or finding an agent to fill that knowledge gap), and sticking to Bigger Pockets for (free) education! Much appreciated.

I am 28 and looking to start my first project. Ideally, I would love to find a multi-family rental property in the Philadelphia or NYC area. I live in Brooklyn, but am from the Philadelphia area. I have a full-time job working for at tech startup in NYC.

I have read Brandon Turner's "Book on Rental Property Investing", however am looking for more outlets to learn from. Some folks have advised I get my NYC real estate license and work as a part-time agent / leasing agent. Thoughts?

Any other suggestions as to where to turn? Online courses?