This post is an update on my current real estate projects. I had to turn over a rental property last month, which was very frustrating because the tenant left the property in very bad shape. Fortunately, I was able to find a very good new tenant. We just listed a completed rehab last week that I anticipate to sell very quickly after the Holiday weekend. I've also listed a condo for a client in Mt Pleasant last week, which I also think will sell very quickly. Finally, we've recently bought a new project downtown that will be an amazing house. It needs an absolute ton of work, but I think it will be stunning when completed. I also anticipate it to be very successful from a business perspective, as well. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC!
One of the most gut-wrenching parts of buying or selling a house is going through the inspection process. It can be nerve wracking. Inspections just happen to be one of those buzzed about topics that get a lot of attention- and rightly so. While the inspection is absolutely vital, the process is much different than most people would think. I always take a moment to explain to my clients that the inspection WILL look bad. No matter how great the house is. The inspector's job is to FIND problems. Many of these problems can lead to a larger issue at some point and the inspector wouldn't be doing his/her job if they didn't describe how problematic the issue is or could be if left unresolved. Inspectors also dace a lot of litigation. Inspectors are often blamed for issues that may arise after someone purchases a house even though it is usually not the negligence of the inspector that cause the problem not to be noticed. For this reason, most inspectors do their absolute best to make the buyer or seller aware of how problematic all issues are or can be. Houses are used products (unless you're buying new construction) and it is important to remember that there will be issues. The best you can hope for is that the issues are manageable and inexpensive. I have yet to see an inspection report come back 100% clean. And don't even get me started on codes. That's a whole other ball of wax. Beyond that, most inspectors are very systematic and procedural when doing their jobs. This post discusses 7 things that home inspectors wish home buyers and sellers knew. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC!
Many people that are new to real estate investing get very hung up on how to structure their real estate business. For most small businesses, a good old LLC would be just fine. And for real estate, it is. However, real estate investors face a lot more liability than many other industries. If a tenant, contractor or vendor were to sue you, they could potentially make a claim on all of the properties you hold in that entity. Asset protection is very big point of discussion in the real estate world. For this blog post, we discuss some of the various business structures for your real estate business and try to figure out which one is the best for you. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC!