All Forum Posts by: Okey Lawrence

Hi 

looking for some input. I own a 3 bedroom home in a nice neighborhood . Centrally located in a college town. Similar houses in this area have been converted to student rentals. The area is not oversaturated. My 3 bedroom house has off st parking  with 3  large yards.  Its a 5 min walk from Mercyhurst College and about a 10 min drive from Gannon University And Penn State Erie  Behrind College.These are the 3 largest colledges in Erie pa.  Im thinking this puts  this property in a prime location for a colledge rental. 

Im currently having the property renovated. should be ready in a week. I  Was renting to a guy and girl.Gave them a discounted rent rate in return  They trashed my place. lol surprise surprise! 

Im figuring if theres a chance its going to get trashed . I might as welll go for the higher student  rents.

What would the checklist for a successful student rental look like? Some resources in that area? Thanks for any input! 

Charge Rent per room?

Have there parents co sign lease?

Have tenants pay for some kind of renters insurance?

1 or 2 months security deposit? (In case theres serious damage done)

A reputable and qualified Property Manager in Erie,pa that specializes in student rentals? 

Should utilities (gas,electric,water and trash) be included in the rent or get the utilities put in the tenants name? In general The gas bills up north can get high in the winter.  

Any thing else that should be on my list? 

What would be the wise choice when looking for a mortgage on a personal residence  near Raleigh Nc. 

 Mortgage Broker or a local credit union? Pros and Cons? Any recommendations?

Persons Basic info

fair-good credit score

5-10% of down payment

Loan amount  $190-$220

Borrower will live in the home

Freddy Evangelista how can I help? i life in the triangle area.

Adam Schneider please Im or Email me. im perfect for this job opportunity .

Brad Millon Thanks for the input Brad. If you have a few mortgage brokers you would recommend. I would appreciate that info as well.

Ok that was worded badly. Let me try this again. Im currently looking to secure financing for a single family property located in Cary nc. I can purchase it for $175,000. With a little sweat equity it will be worth about $200,000-$210,000. A buy and hold with me living in it well fixing a few things on it. I have a $15,000 down payment. Is it possible to secure financing on a $175,000 loan with only $15,000 down? Any suggestions other then a local bank? Thanks for any input.

Looking for financing for a buy and hold with a $$15,000 down payment and $30,000 equity in Cary NC...any suggestions ?

Derrick McCoy hello Derrick. Im in a similar boat. I live in Cary NC and looking to mastermind with real estate pros. We should talk.

Uriah D. Ill make time. Contact me when your available.

im down to help any way I can Uriah. My father had me digging foundations and laying block when I was a kid. I can handle sweeping.