All Forum Posts by: Beau Watson

@Emmett Gorman

I’ve been using Rentec direct for almost two years now.

Although not the easiest software in the world. It has almost everything needed in one spot.

Builds a website for you. Does apps for your rentals. Collects rent. Tracks income and expenses. Syncs with bank account. Markets your rental on all the most popular sites. Etc etc.

@Jonathan Pechmajou

Creating your own LLC and getting an EIN number is super easy to do on your own. Do a little bit of research and jump in. There are also templates online for operating agreements. If you want to be a real estate investor you need to get comfortable researching and doing items like this for your self or all your profits are going to get eaten up by the services you pay for.

Just my two cents.

@Jeremy Flores

Hit me up if you have any questions on how to get started dude. Happy to help any time

@Jeremy Flores

Good job paying off the debt bro! Smart first move!

House hack!!! So many different house hack strategies that can get your building equity and living for free still.

I had a hard time finding a duplex, triplex etc in a good part of town. So instead I focused on larger homes with a “mother-in-law suite”. I made sure it was a walk-out basement unit and it either had laundry or I could figure out a way to add it. That strategy has worked out well for us.

Building equity in a better part of town and my mortgage is paid for by the tenants in the 3/2 house upstairs!

@Johnny Potts

My question is…. If you have a current tenant that is paying, and paying on time, what is the problem?

I get he didn’t qualify for the rental on his own originally but if he is doing what it takes to pay and on time, I am not sure why all the fuss.

IMO you should thank him and then in return if and when the amount does get too much for him he will give notice before he leaves and you can start advertising for another tenant.

@Marlia Stone

Great questions.

I’ve used rentec for almost two years now.

I don’t really have a “most difficult”. I come from a management background. I just quit a job where I had 270 people I was responsible for. So my few tenants issues seem like nothing.

Most recently though, I had a couple break up. The guy moves out. She stops paying immediately. They put a pool in the back yard (I’m paying the water bill) the spicket is leaking. They didn’t tell me about it. Have no idea how long it has been going on but it was spraying inside the wall of the home. When I finally got her to move out 3 months later. She locked a dog and cat in the house for days with no one there. My carpet that was 5 months old. Ruined. Between refresh of the place, contractor, back rent, she owes me around $15k.

Now ask me if I still like REI? ABSOLUTELY! This home once I do get someone awesome in Will cash flow around $600. Hard to beat that! And the refresh I did… only brought up the over value of the home. Just be ready with reserve money for these situations. Haven't been paid in 5 months and spend over $8k that I wasn't expecting.

@Aaron Akins

Hey Aaron, Asheville native, worked in Waynesville for 5+ years and frequent the area as I go to the casino and Cataloochee.

All depends on marketing. You are 100% correct fall is the busy season. Cataloochee is a good winter attraction but is not a major resort that brings in huge numbers. If you market correctly you can hit the casino crowd year around. Cataloochee in the winter. Leaves in the fall. And hikers and kayakers in the spring and summer.

Im doing a STR in Lake Lure area that will capture summer and fall mostly.

@Marlia Stone

Congrats on the property. First step is the hardest.

If you want to manage yourself Rentec direct will help market the property for you. Take applications. Takes care of credit and background check. Makes a website for you. Etc etc.

Also, I use EZlandlord forms to make my lease.

Both services are very reasonably priced and worth the small investment.

Feel free to reach out anytime with questions

@Buddy Platzke

2.39acres in Bill Creek area. Near Lake Lure. Started the well and septic permit process on Monday.

@Joseph Velez

My business partner just came back from a trip there with his family and asked me that same exact question.

“Why are we not looking in Orlando??”

He loves it.

I promised him I would start doing my due diligence.