This post is aimed at new and aspiring real estate investors that want to purchase rental properties. Like most things, newbies will undoubtedly make a lot of mistakes. But, even small mistakes when you own a rental property can be quite costly. This blog post discusses 8 easy to make mistakes and how to avoid them.
The Charleston are's population has been burgeoning. Everyone knows it. It's partly due to the fact that our little city is so livable, but it is also due to the heavy influx of industry that we're currently seeing. I think new industry should be welcomed with open arms to strengthen our local communities. However, when you experience an influx of new residents, you will certainly see an affordable housing shortage. That has been the case here in Charleston recently. Unfortunately, house prices have skyrocketed and that has made many millennials unable to buy. They have to resort to renting and the rental rates in the area have been increasing just as aggressively as home prices. Today's post is about why it is impractical to continue renting in today's market. I know it isn't easy to buy a home, so we will follow the previous statements up with some information on how you CAN buy a home more easily than you think you can.
Calculating your mortgage is a little bit more complex than just figuring out the principal and interest. Most shoppers do not figure their insurance and taxes into the equation when considering buying a property. The old acronym for your total monthly obligation is PITI (principal, interest, taxes and insurance). This blog post walks your through the process of how to figure out your entire monthly mortgage obligation (minus utilities, etc.). Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC!