123: How to invest in real estate without purchasing real estate
People frequently ask how they can invest in real estate when they don't have enough money for a down payment to purchase any available properties. The answer is to think creatively and focus on other ways of "investing" in real estate that you either already own, that you own a very small piece of, or that other people own.  As always, if you have any questions or comments (or, of course, nee...
19m Jul 06, 2022
19m
122: Investing in a Shifting Real Estate Market
As we brace for the real estate market to shift over the upcoming months (and years), there are always lessons to be learned from the past. The past 15 years, we've really seen four dominant markets: the Great Recession market (2008-2011), the post-recession market (2012-2015), the pre-pandemic market (2016-mid-2020), and the pandemic market (mid-2020-now). What happens to the future real estat...
43m Jun 29, 2022
43m
121: Greenville County Council elections = chaos for local housing
This past week, SC had primary elections, which take on special significance for local elections, since those are often decided at the primary level. Specifically, there were four Greenville County Council elections, and each of them yielded a result that seemed to unequivocally point to Greenville residents being "done" with real estate development in the Upstate. With Greenville County set to...
23m Jun 22, 2022
23m
120: Real estate prices continue to soar!!
The Greater Greenville Association of Realtors just published its monthly "Market Stats" for June 2022, and even though there are signs of the market rebalancing, the month of May still had record highs for sales price, percent of list price received, and days on market. And this trend looks like it will continue throughout the summer as well. No cool down in sight (yet), no relief for buyers (...
33m Jun 15, 2022
33m
119: The most uncertain market since COVID
In March 2020, the COVID pandemic hit the US and shut down the world economy, and we had no idea what it would do to the real estate market. Many thought it would cause housing to collapse, but the opposite ended up happening. In hindsight, what happened made sense, but in the moment, nobody had any clue that a pandemic would fuel the craziest real estate frenzy of our lifetime. Fast forward 2 ...
29m Jun 08, 2022
29m
118: The Most Common RE Investor Mistakes
Real estate investors are constantly making mistakes. We never get everything 100% right. Some deals will be bad, some contractors we use will make mistakes, some partners we work with will try to undercut us, etc. But there are some mistakes that can be avoided by shifting your mindset to better understand the market, by avoiding the temptation to have a scarcity mindset when it comes to build...
30m Jun 01, 2022
30m
117: Big changes to the Greenville real estate contract are upon us
The contract/purchase agreement that the vast majority of buyers in Greenville use is about to change. The "Repair Procedure" of SCR Form 310 will soon be no more, and in June (2022), buyers will only have the option of inspecting a home under a "due diligence" period. That would sound like a buyer-friendly option because during a due diligence period, a buyer can back out for any reason withou...
30m May 25, 2022
30m
116: Is the Real Estate Market Shifting?
The market is shifting, with more homes coming on the market but fewer going under contract and fewer closings. Is it shifting to a buyer's market? No, not yet at least. In fact, looking at the numbers for April (which the Greater Greenville Association of Realtors just released), some of the numbers are more seller friendly than we've ever seen! But there are indicators that that won't continu...
22m May 18, 2022
22m
115: Home Improvement Rip-Offs
There's always a new home improvement project waiting to be done, and as we all know, they can be expensive. Unfortunately, many people end up getting ripped off when making home improvements, spending even more money than they need to and often paying for things they don't need and/or that will hurt the value of their home. There are a ton of scams and rip-offs that companies involved with ver...
31m May 11, 2022
31m
114: The Mobile Home Depreciation Myth
There is a common refrain about mobile homes that they "depreciate in value" due to the fact that they start out classified as motor vehicles before being affixed to land, and there's an element of truth to this when we're talking about mobile home parks. But what many forget when it comes to a single mobile home (as opposed to MH parks) is that even if it were to depreciate in value, the land ...
24m May 04, 2022
24m
113: 7 Predictions for the Busy Season of Real Estate
Every year the real estate market heats up in the Spring, with more people listing their homes, more people buying homes, prices going up faster than normal, etc. In Greenville, we've had a gradual build up the past few months that really has picked up dramatically the past week, with substantially more homes coming onto the market than previous weeks. In 2021, it was around this time that the ...
36m Apr 27, 2022
36m
112: The cost to buy a home has gone up 26% since January
We ended last year with an episode about "the cost of waiting" that discussed how much more expensive real estate would likely be for those who waited until 2023 to purchase housing vs. purchasing at the beginning of 2022. My prediction was right - real estate, between price increases and mortgage rate increases - is getting more expensive. What I didn't anticipate, however, was that it would o...
27m Apr 20, 2022
27m
111: Local Politics and Real Estate
This year is a big one for state and local elections, and many of the candidates have real estate concerns front and center. Infrastructure, growth, housing affordability, gentrification, and property tax concerns make up just a handful of the topics that are being fiercely debated within Greenville and within the state of SC, and this is reflected in the campaigns of many of those who are runn...
34m Apr 13, 2022
34m
110: 10 Least Helpful Questions to Ask When Buying
When purchasing real estate, there are no "dumb questions" per se, but there are a lot of questions buyers like to ask that aren't usually going to reveal helpful answers. Some of these questions are an attempt to shortcut the due diligence process. Some are questions that have obvious answers. And some are questions that sellers or agents won't or can't fully answer. Let's talk about 10 of the...
29m Apr 06, 2022
29m
109: What would it take to for the housing market to crash?
With mortgage rates going up, record inflation, threats of war, etc. people are openly asking: what needs to happen for the housing market to experience a crash like it did in 2008? We've discussed some of that in other episodes, but in this episode, we compare the current housing climate to what the housing climate was in 2007, to try to determine how similar or different the markets are and w...
32m Mar 29, 2022
32m
108: A Greenville Phenomenon: fewer contracts but more closings
In a normal real estate market, you can generally predict whether sales will go up or down based on the number of homes under contract. December 2021 and January 2022, fewer homes went under contract than did in December 2020 and January 2021. So logically, we had fewer closings in January/February 2022 vs. January/February 2021, right? Wrong. Substantially more homes sold in January/February 2...
35m Mar 23, 2022
35m
107: The Death of the "Cash Discount"
In the "good ole days" (pre-COVID), those buying a house in the Upstate of SC with all cash could generally expect a discount - to not have to pay "full price" in contrast to those making offers contingent on financing. But as cash closings have come to dominate a larger percentage of closings than we've ever seen and with inventory at historically low levels, the conventional wisdom of the pas...
35m Mar 16, 2022
35m
106: Piedmont: The Next Mill Revitalization
The Greater Greenville area was once a thriving mill community, with many water-powered mills throughout the Upstate spurring on a strong, blue-collar economy. But as the economy changed, the mills went into disuse and then disrepair, with the result that many of our vibrant "mill villages" got left behind. In recent years, however, developers have found great opportunity in converting the old ...
20m Mar 09, 2022
20m
105: How does war impact real estate?
Pretty much any major crisis impacts real estate, and war is no exception. In March of 2022, we're experiencing some major unrest in Eastern Europe, and it's already starting to impact the housing market. Is the impact exclusively bad? Not necessarily, but there are several potential outcomes that we could see this year in real estate, as a direct result of the Russia-Ukraine conflict, which is...
20m Mar 02, 2022
20m
104: Low inventory, higher mortgage rates, and a crazy start to 2022
We've been talking for multiple years now about low inventory driving the real estate frenzy, and it appears we're going to keep talking about that in 2022! Add to that the fact that prices are still going up and that mortgage rates are hovering around their highest point since 2019, and it's not hard to see that the early indications are that this is going to be another nutty year of real esta...
32m Feb 23, 2022
32m
103: How bad is it to purchase the most expensive home in a neighborhood?
There is a common saying in real estate that you should "never buy the most expensive house in a neighborhood." Unfortunately, with the market being as feverish as it is, many people have no choice when moving but to buy the most expensive home in a given neighborhood. So what are the considerations for making such a purchase? Is it an automatic death sentence to your home's longterm value if y...
36m Feb 16, 2022
36m
102: Why we may be seeing big changes to buyer's inspection rights
The standard contract used in most residential real estate transactions in the Upstate may be about to see massive changes to the inspection/repairs language. The South Carolina Association of Realtors is discussing removing the "Repair Procedure" section from the contract, meaning that, unless they came up with another solution, contracts would either be very skewed towards a seller or a buyer...
21m Feb 09, 2022
21m
101: Are Greenville prices going up more quickly than other cities?
We all know that real estate prices in Greenville have skyrocketed in recent years, but how does that compare to other markets in the US? Some people have expressed concerns that Greenville will become so expensive that it will no longer be cheaper than other major markets. But is that what the data says? Or is it possible that Greenville is still remaining more affordable than the competition ...
26m Feb 02, 2022
26m
100: The phone call that would've saved $500,000
Not all real estate stories are success stories. There are times when people leave money on the table - sometimes a lot of money. And one of the wildest examples of that just happened recently in the Upstate, when someone sold a house FSBO (for sale by owner) for $550,000 less than it was worth! All it took was a single phone call that would've made them half-a-million dollars richer, but the p...
26m Jan 26, 2022
26m
99: Which areas appreciated more or less than average in 2021?
The Greater Greenville area saw the entire real estate market appreciate substantially in 2021, but some specific areas saw the median price point of real estate sales increase by substantially more (or less) than the average. One area even saw the median price point decrease by over 13% in 2021 when compared to 2020! In this episode, Stan looks at these markets and gives his thoughts on why so...
33m Jan 19, 2022
33m
98: My absolutely WILD end to 2021
What happens when you combine a late (and low appraisal) that mandates multiple thousands of dollars of cosmetic work needing to be done, with a lender that's about to go out of business and won't be able to close on the house if the closing extends beyond December 30, with a transaction that's somehow got to go through rushed underwriting, multiple days worth of repairs, a reinspection on an a...
33m Jan 12, 2022
33m
97: As home prices go up, what happens to rental rates?
We all know that the costs to buy a home have gone up tremendously the past two years, but what about the costs to rent? It stands to reason that renting has also gotten more expensive in recent years, but not all is as it appears. In this episode, we look at a hot neighborhood in Greer, SC that has had a lot of properties sold and rented the past few years and analyze how the last 6 months of ...
22m Jan 05, 2022
22m
96: Waiting a year to move = thousands of lost dollars per year
Sometimes it's not the right time to make a move, but there's no inherent virtue in waiting. Some are asking, "Should I wait until the market slows down?" and while none of us enjoy moving in an intense real estate market, there is also a real cost in waiting. Home prices continue to increase at record levels, which also impact downstream costs like property taxes, PMI, etc., and simultaneously...
36m Dec 29, 2021
36m
95: State of the Market - Prices Continue to Soar
As we enter the last days of 2021, we see the Greenville real estate market still plunging ahead with low days on market, high percentage of list price received, and record-breaking prices. What does all this mean? Can the market sustain this pace? Is a slowdown coming? Will real estate prices stabilize or potentially even go down in 2022? We dig into some of the data in this week's episode of ...
28m Dec 22, 2021
28m
94: When a deal blows up, should you try to save it or cut your losses?
In real estate, sometimes a transaction goes sideways, and the parties (usually the sellers in particular) have to decide whether to simply let the transaction fall apart or whether to fight to keep it together. The best course of action is to get out in front of this before ever going under contract, and when selling a property, there are ways that we can "read the tea leaves" about a buyer to...
40m Dec 15, 2021
40m
93: REALTOR CODE WORDS
Sometimes real estate agents speak in code. We all have something in mind when a listing says, "hidden gem" or "handyman special," but what do those phrases really mean when realtors say them? In this episode, we have a little fun and discuss some of the common phrases used in listings and translate them into what they (humorously) actually mean.  As always, if you have any questions or commen...
22m Dec 08, 2021
22m
92: The Struggle of Selling a Package of Condos (Part 2)
In Episode 72 we discussed the process of selling a package of 15 condos in Greenville. Well, a lot has happened since then because that contract fell through! It turns out that a deal like this almost exclusively must be sold to a local buyer using a local lender, but you'd be surprised by how many realtors (and even lenders!) don't realize this. The good news is a creative way to sell these c...
40m Dec 01, 2021
40m
91: 8 Things About Greenville I'm Thankful For
Thanksgiving is nearly upon us! We'd be remiss not to have a "thankfulness" episode, and what better to be thankful for than Greenville! In this episode, we discuss eight things that set Greenville apart and are worthy of thanks for those of us living here.  As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to Stan McCune directly by phone...
22m Nov 24, 2021
22m
90: Which Real Estate Is Safest for a Recession?
We never know when the next recession or economic depression might be upon us, and as a result, people are constantly fretting that it might happen tomorrow. This has been even more the case the past year as a result of the pandemic, various things happening in (and caused by) the government, and with the way home prices are soaring. So it's worth considering: which properties are the ones that...
29m Nov 17, 2021
29m
89: Experiencing the Greenville County Tax Sale
An antiquated process. A little taste of the "Old South." A list of 1,200 properties to analyze. A packed out room with tons of money flowing through it. A flirty, chatty lady next to me in the auction. A dollar store building that sold for $1.625M. And a $600,000 property that sold for $35,000. The 2021 Greenville County tax sale had a little bit of everything, and this episode gives you a lit...
37m Nov 10, 2021
37m
88: Solving Homelessness
For all the progress we've made as a society, we still have a homelessness problem. There are public and private entities that exist to try to end homelessness, but at the end of the day, even with government assistance and a stable job, it can be close to impossible for someone who is homeless to get into a home, particularly if they have a past record of substance abuse, crime, etc. Is there ...
25m Nov 03, 2021
25m
87: Improving Your House? Beware Not to Over-Improve.
Most homeowners improve their homes over the years by updating things, changing cosmetic items, removing walls, purchasing new appliances, installing pools, etc. There is a common assumption that when they go to sell their home, they will get back dollar-for-dollar what they put into the home. By and large that assumption is false. There are some improvements that disproportionately add value t...
27m Oct 27, 2021
27m
86: My Home Warranty FIASCO
Home warranties are polarizing - some people won't buy a house without one. Others have terrible opinions of them. Most realtors will recommend them dozens (perhaps hundreds) of times over their careers without ever actually using one themselves. However, I (Stan) decided to put my money where my mouth was and purchased a home warranty last year to see what it would be like. The result? It was ...
47m Oct 20, 2021
47m
85: How to Quickly Identify a Novice Investor from an Experienced One
There are lot of people trying to learn how to invest in real estate for the first time, and you can identify the "newbies" immediately by the questions they ask and by how they approach real estate in general. It's not easy to learn to think like an experienced investor when you don't have experience, but there are some general principles that new investors can apply to their mindset to learn ...
26m Oct 13, 2021
26m
84: Don't buy a house sight unseen. But if you do, here's how to do it.
Trust me - you don't want to buy a house sight unseen, and most people will never even be put in a situation where they could. But there are some unique situations, particularly for investors, where sight unseen types of purchases present the best opportunities. So what can you do to minimize the risk of buying something as large and expensive as a house without first seeing it? In this week's ...
18m Oct 06, 2021
18m
83: Purchasing a house "as is" is risky, but it may be necessary
With the real estate market being as competitive as it is, many buyers find themselves having to waive contingencies to get an offer accepted. One of the most controversial of these is the inspection contingency. Technically, you always have a right to inspect (at least when using the standard "Form 310" contract that Realtors in Greenville use), but if you check the "as is" box, you are statin...
25m Sep 29, 2021
25m
82: Market Update: Is It Time to Panic?
There is a lot of muted panic right now over whether the real estate market has slowed down. The truth is that yes, it has slowed down, but the full reality is that this slowdown was both predictable and is (arguably) healthy. The real estate market is shifting but it's doing so slowly and seasonally and does not appear to be swinging drastically in a way that will cause a recession, mass forec...
33m Sep 22, 2021
33m
81: How to avoid buying a bad flip house
Thanks to various house flipping shows and the fact that we've had nearly 10 years of a seller's market, pretty much anyone and everyone thinks they can flip a house. As a result, there are a lot of homes being remodeled by people who have never done a house remodel before. Oftentimes, these novices think you can just replace flooring and paint and then sell a home for $50,000 more than you bou...
31m Sep 15, 2021
31m
80: Listener(s) Question: "Should I become a REALTOR?"
"Should I become a REALTOR?" It's a question those of us in the industry get quite a bit, and some take offense to it. Taking offense to the question might be excessive, but we do need to be honest about what the job entails and what it doesn't, for those who have considered getting into it. After all, 90% of licensed real estate agents are out of the industry within 5 years, so it isn't quite ...
36m Sep 08, 2021
36m
79: Beware the Greenville Clipboard Warriors
Greenville - both the County and the City - have "clipboard warriors" going around and looking for people who are doing work on homes without getting the work permitted. This might seem like a good thing, but oftentimes it does more harm than good. One person recently revealed that he was fined $25,000 and made to write letters to people he had sold homes to in order to let them know he hadn't ...
22m Sep 01, 2021
22m
78: When it comes to home values, size matters. But not in the way you think it does.
Bigger homes always sell for more money than smaller homes, right? In some ways, yes, but in some ways no. More specifically, when it comes to assessing the longterm investment potential of a home, it's a major error to assume that a bigger home is a better investment than a smaller one. Oftentimes in the long run the exact opposite is true. Smaller homes are some of the best real estate invest...
30m Aug 25, 2021
30m
77: Airbnb vs. Long Term Rentals. What do you need to know?
Owning a short term rental (such as a property marketed and "rented" via Airbnb) is a completely different experience and process than owning a long term rental, but many people don't fully understand how different it really is. A short term rental is more like a business, with more overhead, more work, and (hopefully) more income. But the differences don't just end there - from HOA and city re...
39m Aug 18, 2021
39m
76: The Two Great Fears of Real Estate Investing
Politics fueled by COVID has turned the world of real estate investing upside-down. Is it a great time to buy rental properties and park your money as a safe-haven against hyper-inflation and a potential economic bubble being created? Or is it a terrible time to be a landlord as the federal, state, and local governments all continue to make it difficult to be a landlord? Two factions have emerg...
30m Aug 11, 2021
30m
75: Rumblings of a Slowdown + Best Month to Buy
There have been whispers within the real estate community that a slowdown has happened in recent months. Things are still pretty crazy, but the data does, in fact, show us that things slowed down this summer - a lot, actually. It's hard to draw any major conclusions from this because the slowdown could be seasonal, it could be from "buyer fatigue," or it could be something bigger than that (suc...
21m Aug 04, 2021
21m
74: Appraisers Gone Wild
We've had an insane string of difficult appraisals recently. We're not just talking about low appraisals. We're talking about appraisers not accepting jobs, not scheduling their appraisals, mischeduling them, not getting us the appraisal until the day of closing, etc. It's been ridiculous, and it's what happens when you have an industry where people have more work than they can handle but very ...
43m Jul 28, 2021
43m