All Forum Posts by: Eric Campbell

I don't mean to go off topic, but do you folks know of any portfolio lenders in the Charlotte area?

Just some small stuff, there's an 8 trailer park nearby with abnormally low rents (even for this area), and a brick quad in Hickory.

I wonder if these lenders in Asheville will look at financing properties down the mountain in Hickory?

Ha. Very useful info. Thanks from a fellow Catawba Valley investor.

Thanks Dawn! The students I have now are juniors, so they want to stay for 2 years. I wanted to do electronic payments, but the parents preferred a check. I might just make it a requirement next time. Hoping to get 5 students at $400 a pop next time as well. There's actually several apartment complexes for sale near the same University. I would love to be able to get in on these and turn them into student rentals as well, but alas, I'm running low on capital/down payment.

Just an update, we got 4 students in there and met all the parents as the kids were moving their things in. All seem to be good people, and I think all of them are very well off, given how expensive this private school is. I think I have charged too little however ($1400/mo total), so that will be remedied when the next group moves in. Thinking $450-500 per student. It costs the students over $10k per year to live on campus. My place is a bargain by comparison.

I did end up having to install a dryer vent, as the house didn't have one routed to the outside (didn't even notice this when I bought the place). Small expense. I ended up putting walmart vinyl mini blinds on the windows at $3.77 each. I think I had 21 or 22 windows! Thinking about installing a metal bike rack that's cemented into the ground at the rear of the house, and putting up a fence between the house and the apartment building next door.

Just curious if anyone else has had any experience in this. I have my 3 bedroom house up for rent right now, and was contacted by an ALE (Additional Living Expense) housing company who apparently sets up temporary housing for displaced tenants. They have offered to pay $1700/mo on my house that normally rents for $850.  Obviously, I would want to meet them in person and make sure there's no pets, no smoking, etc.  Main thing I'd be worried about would be the tenants trying to stay put after the insurance company stops paying for housing. Or am I worrying over nothing?

Also, if it only lasts 4 months, that puts me being vacant right in the middle of December. Not the best time in the world to be finding tenants. Thoughts?

I'm going to install mini blinds I think. No history on the utilities over time, since the house was recently renovated and new insulation was added to the crawlspace and attic. Plus new HVAC and water heater. We just put in a washer and dryer this weekend.

For your student payments, do you accept one check for the entire house, or do you take payment from each student? I'd rather have it on one check, but I could see where that might be a problem with several students from different parts of the country. I have the ability to use ACH Debit to charge a checking account, I'm hoping they'll sign up for that to make everything easy.

 It's got 2 baths, one on each floor. Old house, but renovated just a few months ago. Here are some pics from the Zillow posting:

http://www.zillow.com/homedetails/349-9th-Avenue-Dr-NE-Hickory-NC-28601/82175973_zpid/

Good info everyone. Thanks!

I now have 2 sets of applications I'm considering. The first to see the place was a group of 4 guys, who are juniors. The 2nd group is a group of 3 girls, all grad students. Although the male undergrads were the first to see the place, the female grad students got their applications in first. However, the guys agreed to the full rental price, where the grad students would like to lower the price since they have their own washer/dryer and would like to do the yardwork. Decisions, decisions...