All Forum Posts by: Andrew Merritt

Thanks for the recommendations guys

Anybody have a recommendation for a handyman in the Charleston, SC area?  I have a duplex in Ladson/Goose Creek that has a shed in the back that needs to be fixed up.  Let me know if you have any suggestions, thanks.

Hmm, good point. I just met her today and she seems ok she would be a good tenant. I'll run her background check if she ends up applying, but I'll keep your suggestion in mind. Thank you

Thanks @Justin Smith. I just rented the one side today and was showing another prospective tenant. She said the rent is higher than she's like, but she's looking for a longer term deal so I offered 1000 or month with a 3 year lease agreement. i think that would be pretty fair and benefit both of us. I'll let you know how it goes.

@Jason Boulay good suggestion.  Thank you

Thanks for the advice everybody.  Looks like the consensus is that I should not concede to her b/c of her job.  I suppose my eagerness to place her in there is partially due to my inexperience being a landlord and partially b/c I think it would be nice to have cop car in the driveway.  Thanks for reigning me in.

@Justin Smith the duplex is a 2/1.5 on each side.  Where is your property in Ladson?  Mine is just off of College Park Rd.  It's in pretty good condition and near the entrance of the subdivision, which is why I set my rents so high.

Follow-up question for everybody: Let's say I place one tenant in side A for $1100/month but I struggle to fill side B.  If I drop the rent for side B down to $1000 (or less), what are your thoughts on amending the contract for side a to drop their rent to match and refund the corresponding amount from their security deposit?  My thoughts are that the tenants will likely discuss their rents and I wouldn't want to have the rent discrepancy be the reason that side A leaves after their lease is up. 

Hey All, I purchased my first investment property recently (a duplex in the Charleston, SC area) and I'm trying to rent it out.  I bought it for $175k cash and will get delayed financing on it settled in November (30 years/4.7%).  I'm asking $1,100/side, which is admittedly optimistic, but I've got some decent interest in it.  I will likely be signing the first tenant's lease tomorrow.  I had another tenant interested but she backed out b/c the rent and deposit were too high.  I really wanted her in there b/c she's a cop, so I offered her a discount down to $1025 and no application fee ($25 waived).  She says she can only afford about $975/month.  

The other thing is that she wouldn't be moving in until November first.  I said I could take a holding fee of $500, but that's still too much.

I haven't run her background check yet as she hasn't sent me in all of her info, but I'm wondering if it might be worth it to drop the price down to $975 and waive the holding fee for a young police officer who will in all likelihood be a good asset to have in the duplex.  The house isn't in the best area, but it's nice enough.  There are some rougher houses near by.  

Thanks for your input!

They countered at 175 firm, so I recountered at 175 and they pay closing fees.  My agent just told me they've accepted, now waiting for the official contract to be signed.  Thanks for the advice everyone!

Hey guys, I put an offer in on the duplex for 160k today.  I'll let you know how it goes

Thanks for the advice everyone, looks like it's unanimous for the duplex.  My agent talked to the owner and he's willing to fix at least a few things (roof issues, new paint/carpet...) and I'll ask about a discount b/c of the older HVAC units as well.  

@Dylan Tettemer just send me a message if you have any questions.  I'm new to this but I'd like to help out any way I can.