All Forum Posts by: David Chwaszczewski

@Account Closed  BiggerPockets members :-)  There are many investors using hard money to buy properties on this site.  I have used several in the past, but has not used any in a while since getting private loans to fund our projects.  I would google hard money lenders in your area and you can contact them and get the fees they charge and compare rates.  Remember the junk fees are how they make their money.

@Gena B. I would suggest going to the Rock Hill REIA and start there. We meet the first Wednesday of every month at the golden corral.

@Robert Anderson Try looking up a local building supply center (Stock bld supply, builders first source).  They can give you different options for you project and they can do the takeoff to make suer the order is placed correctly, but usually takes 1-2 weeks for the windows to be delivered.  Lowes and Home Depot usually cost more, but they have most standard sizes in for homes in your area in stock.

@Steven Booty In my experience cracks straight up and down are not cause for much concern as long as they don't have more then 1/4" separation.  If they are more then that you can call a foundation company to do an inspection and suggest repairs if needed.  Most of the time it is just settling.  Its when the cracks are vertical you need to be concerned.

@Dan Simpson What are you doing with it?  If i were flipping it i would look to give color.  I wouldn't change windows if they are good.  Go to your local paint store and talk to the pros.  Find out what colors they sell the most of in your area and then get some samples and do test spots.  Some flowers will work for the landscape.

@Mark Smith I agree with @John Casmon.  We buy duplexes and do complete renovations on them.  We upgrade kitchens, bathrooms, floors, interior and exterior paint, roofs and landscape.  This gets us top rent in our market for great cashflow and we force appreciation to the property.

@Mel Hayes just go to your bank and get your routing info needed to give to your tenant.  Give the info to your tenant and they take to their bank or can do online to make a deposit to your account or auto withdraw on a certain date.  Any bank can do this (from my experience).  This is also helpful if your tenant needs to be setup for making payments when they get paid every two weeks and not a lump at beginning of the month and fall short.

@Elena Jobson  Be sure to know your taxes before you buy in SC.  Taxes for investors are more then if it is your primary.  Difference is 6% vs. 4%.  Its what kills most deals for us as buy and holds and vacation rentals.

To answer your question, it depends on the deal and if you are going for cash flow or long term.

@Andy Bocharski  I am in your area investing.  Feel free to reach out with any questions you may have.

Currently I have my tenants pay online and do a direct deposit into my account.  I make sure they have a checking account when i take them on as tenants.  This seems to work fine currently.  I am trying landlordstation.com to manage my properties now that i have a few units and need to be able to keep track of it better.  The payments go through Dwolla and it integrates with the system.  I will let you know how it goes next month when i give it a go.