All Forum Posts by: Franklin McGuire

That's awesome, man! I just did my first deal myself this summer and am house-hacking a duplex as well, here in Columbia, SC. I'm curious — how long had you been in the military to take advantage of your VA loan? I went conventional financing with my duplex but am in the Army National Guard so I'd like to use a VA loan at some point. Are there restrictions with the loan regarding owner-occupancy?

Hi all, I'm new to property management and trying to get a lease signed for the first property I've picked up to manage. I'm in Charleston, SC and am using this residential lease agreement. My question is: I see on here where I state the end of the lease, but I don't see on here where I can specify penalties (a fee, for example) if my new tenants want to break lease and move out early. Should I just handwrite this into the "Additional Terms" section at the end of the agreement? 

Thanks for the advice! 

Hey @Josh Stevenson, I went through The Citadel actually during college and did a lot of work in Tanzania and Uganda researching business and social enterprise in Africa. I would totally recommend getting out there if you can! It's a beautiful continent. 

Welcome @Lucas Machado! I just joined the forums as well and have similar goals. I'm in the National Guard in SC, so not full time, but my brother is active duty regular Army and will be looking to get into REI at some point too. If you haven't listened to the Bigger Pockets podcast from a few episodes ago featuring Sarah Prichett by the way, definitely give it a listen. She's in the Air Force and did something like 4 or 5 deals in her first year. Very inspiring story and super helpful podcast with tons of practical info. Anyway, good luck to you and feel free to reach out directly if I can ever do anything for you.

I definitely wouldn't know the first thing about it, but I wish you the best! I've spent a lot of time in Africa (only Nigeria in West Africa, though) and always loved my time there. I hope you do well! 

That's awesome @Amy A.! I'm just getting started so your story is inspiring. Thanks for sharing!

Hi everyone, I'm still a newbie to the forums and to REI in general, and this week I'm screening my first-ever applicants for an open bedroom in a house I've just started to manage for a family member. (I don't have the credit to buy my first property yet, so I figured making 10% as a property manager of this house would be a good way to get my feet wet.)

I'm planning to use a tenant screening application form/credit check/background check tool I found for free online that automates the entire process, and then — assuming the guy I'm talking to via craigslist passes those screenings — meet him at the property Sunday for a walk-through. Anyone have any tips/advice/horror stories/best practices they'd like to share as I walk into this process for the first time? THANKS!

Hey everyone, thanks so much for the input! I'm sorry to be replying late — I think I had my notifications set up improperly. Anyway, that's all great advice on the short-term vs. long-term rentals — it sounds like getting a multifamily and living in and renting it will be the best bet. I'll keep everyone posted on how things go! 

Hi everyone! I'm a new member from Columbia, SC looking to begin what I hope will be a long life of "playing smart" with real estate. I'm 25, in the National Guard, and preparing to start law school at the University of South Carolina next year.

So what are my real estate goals? 

1.) My dad owns a 4-bed house in Charleston, SC which he rents to friends of mine, and if I can keep the rooms filled and the renters happy, he says he'll give me 10% of the monthly gross, so I'm looking to learn more about property management so I can perform that role well and help pay my way through law school. 

2.) I'm getting married in January, and I want the first place my wife and I buy together to help pay for itself. So not only am I learning a lot about first time home ownership and financing, I'm also looking to learn more about being a landlord in either a duplex or a SFH with a "mother-in-law suite," etc. (Also wondering if I should just rent that suite out via an online short-term rental site or something to avoid taking on long-term tenants?)

So that's me, in a nutshell. I'm excited to join the BP community and hopefully give/get good advice to/from everyone here. Thanks! 

Wow, awesome looking property and great interior decorating, too! I'm curious: do you have a blog or anything detailing the process, or showing any "before" photos?