The Lowcountry is an ideal place to invest in real estate. Taxes are relatively low, and our almost 3 million annual visitors make up a large portion of revenues that provides plenty of opportunities for jobs seasonal or full time.
The result is a continuous demand for long- and short-term rentals, permanent and second homes, and commercial or office spaces. As an investor, one of the best assets you can have is the people who work with you.
It is imperative that you make a distinct effort to assemble your team. You want to make sure that you have a team of people who you trust, who are knowledgeable about what they do, and who follow through.
As a real estate investor, you will want to seek out the following team members:
A professional Realtor who is able to access current inventory, knows about the area you are interested in, and provides you with information such as: what is for sale now, statistics on what has been sold recently, what is being built currently, and local information that might affect your property values.
If she learns of something that comes on the market that might work for you in the future, you should be able to trust she will get in touch with you.
A mortgage broker, either private or one who works for a bank, who can assist you in making financial decisions that work best for your pocketbook and your future. Different brokers handle different loans.
For instance, some brokers might give land loans but not construction loans, some will give residential but not commercial. Some mortgage brokers handle all types of loans.
A land planner who is aware of local laws, town plans, and who is able to follow through with the town and community in getting ordinances, easements, and details approved for you.
An architect who can draw and stamp plans and who is also well versed in communicating with the town and county on the client’s behalf.
A builder who is licensed in what you want to build or change. There is a general contracting license, a residential license, and a commercial license.
A general handyman is helpful because inevitably, something will need to be repaired, spruced up, or replaced. Though this role is often overlooked, a general handyman who is loyal to you and does good work is imperative if you are going to own property.
Suzanna Rose McDonald is a licensed Realtor with Premier Island Properties. firstname.lastname@example.org or hiltonheadluxuryproperties.com