All Forum Posts by: Jesse Waters

Out of 10 units, I allow pets in 2 units.  Both of those have yard's & it seems to open us up to a wider market, however, no cats.  I don't like animals that do all of their "business" in the house & not outside.  We also state that we charge a pet deposit, somewhere around 1/2 month's rent non-refundable to cover the extra cleaning that goes into cleaning after move out & we also reserve the right to meet the pet prior to acceptance.  No restricted dog breeds, no St. Bernard's in a townhouse etc.

Welcome to BP.  I have found this to be one of the best resources & tools for both networking & learning.  Best of luck.

Welcome to BP!  If I can be of any assistance let me know.  I have two properties in Columbia & should be closing on three more shortly, just finished inspections on two today. 

Avoid Eau Clair.  Some areas in the Northern part of the city can be good, little pockets of good properties, older but good neighborhoods.  I'll PM you my property manager's info, she is really great.

@Justin Windham

 Enjoy your vist, please don't judge our state solely on Myrtle beach or South of the Border.

Welcome to BP, likewise I don't like HOA's and I am still dealing with one on the first property that I bough at the height of the bubble & have yet been able to sell.

Best of luck

Well, if you are putting them in LLC, which could trigger due on sale, then I would spread them out. However, I have all my mortgages between two banks, and my residence on another one, it does make it easy sorting the mail since all the rentals are paid out of one account, and my house out of another.

Depending on how it would fit your strategy you could always put some or all of your properties under one loan, particularly if you want to hold them in LLC, since multiple properties might make it easier to qualify for commercial lending which is generally done to LLC. This is a point where a trip to a few local banks & credit unions might really pay off.

@Justin Windham I have always used property managers.  I'm out of town a lot for work and would be unable to keep things running as smoothly my self.

Hope you are enjoying your visit to SC, what part are you visiting?

Welcome to BP, always great to see other investors from SC around.

Didn't real all the other post, but, our standing rule is that rent is due of the 1st, and late on the 5th, which allows for a long weekend/holiday, whatever.  If a tenant is going to be late they have to tell us before the 5th.  We have some that pay late every month, we have come to accept that fact & get their late fee every month as well.  However, if they say they will pay by the 10th and don't then we file for eviction the next day.  Same for everyone else, if they don't pay on the 5th we are at the courthouse on the 6th or first business day after.  For them to have the eviction lifted they have to:

-Pay the full rent due

-Pay the late fee

-Pay the eviction filing fee $85 usually.

Not to sound like a punk, but this is one area that we don't play around with, we take it seriously & express to tour tenants that they should as well.