All Forum Posts by: Andrew Junquet

Thanks for taking a look and for all the great info Jeff. I'm going to try a few things that you mentioned to see if I can get things moving along.

Hi Everyone, I'm hoping some of the seasoned landlords can help me out here. My business partners and I recently bought a duplex in Columbia, SC. It's an older duplex that could use some upgrades but we have kept the rent down to compensate for that. Immediately after purchase one of the tenants moved out. We are now trying to place a new tenant. We have everything setup through tenantcloud.com and its advertised on all the major sites. The problem I'm having though is that it seems like our conversion rate from inquiries to applications is low. Then even after we get someone to apply the process just stops for those few that have applied. I also have a full time job so I cant just drop everything to show the property at anytime. Here are some of the the things I have tried and noticed: 1) We have had 43 inquiries via email through various sites such as Zillow and Trulia that I immediately respond to with a standard email response stating that they should apply online (no initial application fee) and that we will schedule a showing if they meet our initial requirements. They will then pay directly for background and credit checks if they want to proceed. Only 4 applications have been received so far with 3 showings. 1 has met requirements to proceed. It's been listed for almost 3 weeks now. 2) basic qualifications are income is 3x rent and 600+ credit score. No felonies or evictions in the last 10 years. 3) Google voice phone number goes directly to voicemail explaining how to apply in case they didnt read the listing explaining the process. Is it normal to seemingly get a lot of interest but not many that want to actually go through the process or is there something that I'm blatantly doing wrong that's turning people off? Listing can be seen at the link below if anyone wants to take a look and critique it. https://ajpproperties.tenantcloud.com/listing/219747 Thanks! Andrew

Hmm no I hadn't thought of that. Do you know of any good ones that have experience with multi-family housing?

Thanks @Will Gaston. We are under contract on a .46 acre lot in Cayce that has a duplex in the far corner. We would need to use 8000 sq ft of the lot for that duplex and then can build on the rest. Already spoke to the city about it. Its 5000 sq ft for the duplex/triplex and then an extra 1500 sq ft per bedroom added. At this point we are trying to figure out if the cost of building would make it not cash flow in the area based on avg rent.

We are looking to build a triplex in Columbia, SC and are trying to figure out the average cost per unit for this. We would be looking for each unit to be 3 bed, 1.5 or 2 bath, 800-1000 sq ft with mid-range finishes. possibly in a townhouse style 2 story. Has anyone built in the area lately that could help us out. Or possibly have a resource we could talk to? Thanks!

It depends on the county and school district the house is in. For instance in Lexington in the town of Lexington school district, taxes on a $100k property as a non-owner occupied would be about $3100/year. 

Most counties have online tools to calculate this for you based on address or property value. 

Heres the link for Lexington county 

http://www.lex-co.com/scripts/cgiip.exe/WService=w...

Edit: also keep in mind that the rents in this area reflect the lower taxes and property values. There are alot of deals out there that work on a percentage view but you may only be cash flowing a few hundred bucks a month.

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looking to purchase vinyl replacement windows online and replace them myself for a rental I own in Irmo, SC. Anyone have any good companies to purchase from or any to avoid? Any tips for this project in general?

Thanks Grant. Too bad we can't move posts to a different sub-forum after submission. Guess I'll copy/paste it in the SC one also.

looking to purchase vinyl replacement windows online and replace them myself. Anyone have any good companies to purchase from or any to avoid? Any tips for this project in general?

I was recently referred to Wayne Corley in Lexington. I had a meeting with him and he's been very responsive through email when I have questions. He gave me some good guidance on the tax side on setting up an LLC structure to limit liability and not have to file taxes on a lot of separate LLCs. He also owns rental properties so he understands what investors are trying to do.