All Forum Posts by: Kyle N.

Hello BP folk! I am currently in the process of purchasing a SFH that has the perfect layout to add a wall and kitchen and make a duplex. I already got permission from the county so that is one major hurdle out of the way. My question is related to utilities. I can have a new electric/water meter added or I can offer to pay the utilities myself. I am buying as a primary residence so I will be living in the smaller unit for a year while renting the larger portion of the home. Paying the utilities seems to be the easiest but I am smart enough to know I'm not smart enough so I appreciate any input from those who have been down this path.

@Taylor Cartledge

I am also relatively new and the biggest lesson I can contribute to the conversation is know the property taxes in your area! I am in South Carolina, I purchase a home as a primary residence then in a year rented and repeated. I got a huge surprise when I changed the property tax from primary to investment. Mortgage payments went up nearly $400 a month all in taxes! I was blessed enough to still have positive cash flow but it could have ruined everything. A wise man learns from his mistakes, a wiser man learns from other's mistakes.

@Yocheved Beer

You might consider speaking with a property management company (or two) and see what they think they could rent it for, then ask what they could rent it for if it was furnished. My property manager believes I can get an additional $300 a month leaving all the furniture in my current home in SC. Just my 1.5cents

@Laura Marks thank you for your reply!

Hello friends!

The rental market in my area is in high demand, and I will be putting my first home up for rent in the next few weeks. I was wondering if anyone ever offered a bid for rent? My property manager said rent for the house would likely be $1,600‐$1,700.... I had the idea of putting it on the market at a starting bid of $1,500 and all offers need to be in by xx/xx/xxxx. I mentioned it to my property manager and she said that's not how it works... Has anyone tried this before, or have any thoughts on the idea?