All Forum Posts by: Bryce Alabaster

That's an interesting approach. I am still trying to wrap my head around if that would be better or worse. I guess the worse thing for you would be if they fulfill their lease obligation and then at move out you recognize the place is trashed. 

Is anyone using a surety bond for security deposits? As the property count grows and the deposits reach in the 10's of thousands, it seems like poor cashflow management to have all the cash just sitting in a separate account. Here's the technical language:

Security deposits from the tenant in residential dwelling units shall be deposited in a trust account with a licensed and federally insured depository institution or a trust institution authorized to do business in this State, or the landlord may, at the landlord's option, furnish a bond from an insurance company licensed to do business in North Carolina. 

If you are using a bond...who did you purchase it through? I've asked my auto/gl company so we will see what they say. 

Happy Saturday! 

I am headed to the conference in Nashville tomorrow. Does anybody in the Asheville market want to meet up for introductions?

Bryce

@Robert Ombres I am in the market also and was thinking I needed to expand my horizons outside of Asheville. If you have a reco I'd like to understand their experience too.

Thank you! I think I saw the thread referring to closing attorneys. In the past, I've always kept those 2 roles separate. I might have to change my ways! 

I hate to be the new guy with nothing to contribute but only to ask....Working on another couple of deals and was wondering if anybody loved their real estate lawyer? Specifically, LLC's and landlord tenants issues.

I'm new to BP but not real estate so I'm unsure how to share any specific contact info!

 Thanks in advance! 

@Derek Robinson no sir. More like Fremont and haywood.

Newbie on the forum here in Asheville. From my experience in my neighboorhood (WAVL) we have one fully furnished rental across the street from our house that rents for $2500 per month. I've only seen it rented once in the last 6 months....That's all I can add!