All Forum Posts by: Garrett Ferrara

On one of my single family properties my tenant decided to turn the heat off when she went out of town for 2 days with temps around 0. 

Of course the pipes busted and I explained to her it was her responsibility since she turned off the heat. After admitting over the phone and in person (along with witnesses) she is now claiming over text message that she never turned it off.

Unfortunately I will likely have to pursue eviction. I am curious if anyone has been through this situation and what was the outcome. Any advice is welcome.

Thank you @Kenton LeVay!  I will definitely reach out.

I'm currently a buy and hold investor in the greater Cincinnati area, but I may have the option with my job to move to the Raleigh/Durham area in the future. I've done some initial research (googling) but I'm curious if anyone can give me some details of what the market is like? I'm curious if SFH are cash flowing, is it a crazy sellers market like most of the country right now, are there good property managers in the area, etc.? I will gladly take any and all details. Thank you in advance!

@Jeshua Patrick thanks!

@Chace Corbett thanks for the info. I have some long term rentals in my area (northern Kentucky) and completely agree with your points around their benefits. I know it will be harder and more work to find and successfully manage a STR but something about it is still very appealing to me. I would expand your tank of gas to a tank and a half as Myrtle Beach is one of the closer beaches for our area and people continue to flock there. I will definitely take your advice and see what's out there that's dual zoned and no HOA (especially since the HOA can be as high as the mortgage on some of these condos). Thanks!

Yeah I had mainly been browsing condos with selling prices <150k. That puts the mortgage very roughly at ~$1500 including HOA. If rented at $125/night with 60% occupancy that's ~$2500 coming in a month. Now that obviously doesn't include maintenance, capex, etc. I'd like to think with friendly/active management and good marketing there's money to be made, but I'm not so sure.

Thanks @Jeffrey Long, that's kind of what I figured. I have had a hard time finding a BRRRR candidate even in my own backyard, but will keep an eye out.

I've seen some posts in the past on this, but couldn't find anything recently. I'm curious for those that own a short term rental in Myrtle Beach or those that have researched it, is there still cash flow opportunities or have real estate prices and fees (HOAs, licenses, etc.) made it difficult?

It appears the real estate market there is strong, but condo prices do not seem outrageous. As an out-of-towner, I'm having a hard time understanding all the considerations to determine if a property will cash flow- how much HOA fees, added expenses, vacancy rates for STR, etc.

Any and all advice is appreciated!

I've seen some posts in the past on this, but couldn't find anything recently.  I'm curious for those that own a short term rental in Myrtle Beach or those that have researched it, is there still cash flow opportunities or have real estate prices and fees (HOAs, licenses, etc.) made it difficult?

It appears the real estate market there is strong, but condo prices do not seem outrageous. As an out-of-towner, I'm having a hard time understanding all the considerations to determine if a property will cash flow- how much HOA fees, added expenses, vacancy rates for STR, etc.

Any and all advice is appreciated!

We have an engineer inspecting a potential failing lintel over a garage on a rental property we are purchasing.  I'm awaiting the official report, but am hearing the engineer does not have concerns and does not recommend any action.  I'm curious, either from anyone's experience or expertise, if there were a future structural issue related to this, would I be liable as the landlord?  I would assume the liability would be held by the engineer since the engineer has reviewed and 'signed off'.  Would love any perspective, thanks!