All Forum Posts by: Elise Watt

I hope this is helpful if anyone is looking for new software to keep track of their income and expenses for their rentals! I have been using RentalHero for about three years now I believe and haven't needed to look for any other software. For a smaller landlord like myself, it's the most simple and also has an app for your phone. Is anyone else using Rental Hero? Curious if there are some other tricks that I should be using!

- April 2022 in North Charleston, SC, paid $410,500, 1,489 sq ft

- It's a house-hack right now, so I haven't made any profit yet while living in it myself with roommates. Once I move out, I'm hoping to make $750/month profit per month. 

- Yes, planning to buy an investment property soon because my strategy is to have long-term buy and hold rental properties so I can retire early and live off the profits.

- Looking for a property to rent out by the room whether that's a turn-key property or a BRRRR. I believe "time in the market is better than timing the market". If it's right time for someone personally, then it's the right time.

- Advice - think about your long-term goals and strategize how Real Estate is going to align with your future. Additionally, surround yourself with people who are going to help you get there. 

-Elise Watt, 27, Real Estate Agent & Investor, Charleston, SC, email address on my BP profile

It sounds like it's time to withdraw the background check and move onto the next candidate! Do you have some back-up candidates? I'm a big believer in "do what you say you're going to do" & good communication is the key to having a healthy landlord/tenant relationship!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $410,500
Cash invested: $19,426

This 3 bedroom 2.5 bath single family home is in a rapidly growing area 5 minutes from the Park Circle neighborhood in North Charleston. The property was recently acquired and is rented by the room. Currently in the process of converting the garage to a forth bedroom/studio in order to add value to the property! Great potential to use for AirBnB, mid-term or long-term rentals.

What made you interested in investing in this type of deal?

Seeing the potential for future home appreciation and cash flow now!

How did you find this deal and how did you negotiate it?

During a time when all buyers were competing in over-ask & multiple-offer scenarios, this deal was found listed FSBO on Zillow. The seller had just fallen out of escrow and we swooped in and listened to what was most important to her! Sometimes money isn't always a seller's #1 motivation. The seller was moving out of state & couldn't take her furniture with her. In order to help alleviate this paint point this deal included a Bill of Sale for furniture in the home!

Investment Info:

Townhouse buy & hold investment in Charleston.

Purchase price: $249,000
Cash invested: $20,044

This 3 bedroom 2 bath townhouse is currently rented by the room bringing in $2,550 per month. Each tenant pays between $750-950 with utilities included to create a stress-free environment. Since acquiring the property in March of 2021 it has appreciated more than $75k (as of August 2022).

How did you find this deal and how did you negotiate it?

This property was found on the MLS during the height of the COVID-19 pandemic. Being the 1st offer on the table after falling out of escrow on another property nearby due to the appraisal helped in our negotiations.

How did you finance this deal?

Conventional Financing

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Irmo.

Purchase price: $153,500
Cash invested: $5,087

An investor's first property kicks off a snowball effect! This 4 bedroom & 4 bath duplex was purchased in December 2019 with an FHA loan and has appreciated almost 100k since purchase (as of August 2022). Currently in the process of raising rents to the market rate for the area creating great cash flow potential!

How did you find this deal and how did you negotiate it?

This deal was found off market! The seller's main goal was to keep one of the tenants in the property which was negotiated in the deal.