All Forum Posts by: April Birdsong

Thank ya'll very much

Closing on first STR next week. It has 2 dwellings on property. Each 2bed/1bath. Should I place security system on outside? I have talked with ADT. Or should I have Ring cameras installed outside. I know cameras are not allowed inside. I just want to make sure everything is safe. I have stayed at many STR and have never had security system that I have access to and it hasn't been a problem.

Thanks for your input. Soooooo many decisions.

April in GA

Update:  My floor guy came over and found original hardwoods under the carpet in the bedrooms. So I am just going to refinish them for $1500.  Yeahhhhh a wonderful surpise. 

Thanks again

Thank you all very much for your responses.  I have a couple more quotes and will post with my decision for future readers. 

I will be closing on my 1st STR/MTR this month. I am sooooo excited but also nervous. It is a 1940s 2 bed/1bath that has been renovated by seller. They put new hardwoods throughout the house except in the 2 bedrooms which has new carpet. Arrggg. Question. Should I replace carpet with hardwoods so that they are continuous throughout house? Cost approx $3000. The other STR in my area mostly have hardwoods throughout and I personally don't like carpet which I feel many guests may feel the same. Also, having to interrupt stays to replace later doesn't make sense. I know in LTR the thought is to keep carpet until it gets messed up and then replace. Just want to get thoughts from experienced STR investors.

Thanks so much 

April in GA

Thank you both very much.  After 2 plumbers/sewer inspections, they both recommended that I just watch it and use root killer twice per year. So I have moved forward with the purchase of the property. 

Hi there

Needing some guidance if I should run.

I am in due diligence on my 2nd deal and the sewer inspection found 3 areas in the sewer line with very tiny roots. 2 were little nubs and the 3rd was  like a new growth on a tree.  I had a plumber come out and he wasn't sure he could find where to fix it. He doesn't have a scope.  I am having a sewer line repair company come out and give estimate to repair vs replace.  I know this can be expensive.  

The property was built in 1940 and has cast iron piping. Although the plumber said after looking at report pictures, he thinks it is terra cotta. It has 2 separate dwellings. One is a 2bed/2bath completely renovated and the other is a cinder block house 2 bed/1 bath that needs minimum updates. Each have new roof and AC. I plan to use one for MTR and other for STR. Nothing else crazy stood out on inspection. My plan is to buy and hold.

I have read on other posts about this problem and some are able to use things like hydrojet or root killer flush with copper sulfate to hold off needing any repairs. If everything else looks good, would this make you run? I am also thinking about asking for 1/2 of the repair cost from seller. And for those that have bought with this issue, can you share your stories?

Thanks so much. 

April in Georgia 

Hi there 

I have my first rental and it is rented for August 2024-July 2025. I am targeting college students. There is a student interested in renting for 2025/26 school year.  How do I handle the security deposit? Do I have them put down the same amount or decreased amount since it is so far in the future?

Thanks so much. 

April 

This is my first rental.  Purchased for $155,000 complete flip put almost $70,000 in it.  So proud. Thankful for this community that gave me the guts and information to do it.  I put a link from Rentredi if anyone is interested to look.

My screening criteria is 3x monthly income, Credit Score >600, no Felonies, and I have really be on the fence pets or no pets depending on size etc 

I need help with the tenant selection

1. I am working on applications for 3 college students.  It has been a little difficult getting their co-signers to get me their information. And 1 of the co-signers has been late on his mortgage (2 times last year).  The college girls are very sweet. 2 play sports on scholarship and work and have told me they pay their own way with their scholarship money, loans, work etc and have good references from previous landlord and credit score.  The 3rd is beginning her nursing career so her stuff is solid.

On a personal note, I had to put myself through college with no help from anyone but always worked hard and paid my way. I think this is influencing me as well.  I think the girls are solid based on their references at least.  2 of them just don't have the "income" so to speak.

My concern is with the co-signer that doesn't meet criteria.  Have ya'll rented to college students without co-signers who are on scholarship etc like above situation?

2. I have talked to 3 other very interested potential tenants, but have not had them do application because I was trying to get information from students and didn't want the others to pay a application fee if I end up renting to students, but that may not be the correct process.    

The other pool of tenants: 

One is a couple relocating to area high income earner

One is  interested in renting as a "personal care home for 4 residents"

One roommates working in the area with the same company needing housing for next year

I just need some guidance.  I probably should have all 3 above go ahead and fill out applications instead of just waiting the next day of so for the student's info to come.

Thank you so very much for your thoughts and experience with this. 

April in Georgia 

Thank you all for your response. His brother is licensed and insured and that is who the actual contract is with, but my contact has been doing the work. In the future, I will add timeline to completion dates.  In the meantime, I am not advancing any more money and will be reaching out to his brother to discuss finishing the rehab. 

Arrrggggg, learning has its aggravations.