All Forum Posts by: Jonathan Taylor Smith

Congrats! What type of interest rates are common for the various peer to peer leaders these days?

In most cases Jeremy Pace is correct in his posting that a real estate agent would be able to setup a keyword based MLS search for you. I can do this for you for Raleigh and the surrounding Triangle cities, but not outside of that area.

App is pretty standard... I've used a version from EZ-Landlord and from NC-REC to see if they get different results. The one couple that did complete apps and paid the fee came back with some troubling items on their credit, so I offered to lease but with 2 months deposit, which I do not think they could cover. I have two others claiming they will submit an app today, so I will see. I also have several more interested in a showing, so I will have paper apps present and collect the app fee immediately at the next showings and see how that goes.

I've been showing what I consider to be a GREAT Townhouse Unit for the last two weeks, and with each showing I hear "I love it! I Want It!"... So I send an email with a link to the application, including instructions to complete online and email or print / fax. App fee is only $25, yet I've gotten only 1 completed application to date. Am I missing something as to what happens after the prospective tenant leaves the showing expressing how much they want the unit and knowing the first qualified applicant will get it - yet I get only crickets when waiting for the app and trying to follow up with them!?! I've checked my breath - fresh and clean, as is the home.

Paying asking price does not mean you paid too much... sounds like you pulled off a win-win if you got a great turnkey home to rent out and the seller gets what they need as well. 

For inspection try Fred Herndon (message me for his phone and email) - He gave a great presentation at RTP REIA meeting tonight and other investors there have used him to great results. He may be able to reveal some things that gives you leverage to get a lower price.

I'm an investor who looks to purchase Townhomes in Durham (not interested in Condos)... Why do you ask?

Hello Tiffini,

I moved to Durham NC from Bradenton / St. Pete Florida for a job in 1996 - knowing absolutely no one and leaving my parents and siblings back in Tampa / Clearwater. It was scary, but I also count it as the best decision of my life! I meet amazing new friends including my wife of 15 years. I was not involved in real-estate back then, but I would consider a move now as an opportunity to expand my market reach. Nothing like living in a place to learn it well enough to be a knowledgeable and confident investor.

If it has already been extended from 20th to 25th then it would be unprofessional to ask for more. It is a tough position because ideally you would have set the rental start for after your new home closing. It would also be unprofessional to back out of the rental even if returning the deposit - but that is an option and you could always get a new tenant after the closing. I would honor my obligation to the tenant and stay with family until the new home closing, but I have family in many states with whom I'd be welcome. What is the cost of an extended stay hotel for the needed period of time? Anything on VRBO or AirBnB for a cheap off season 1 month home rental?