All Forum Posts by: Jordon Doddy

Hi Everyone!

Looking for input on past experiences with different types of tenants. 

Tenant 1 is a couple with a 3 year old daughter who wants to move in Jan 1 which would mean my unit would be vacant from now until then. They seem like they will stay for more than a year as they have pretty stable jobs, steady income and love the area.

Tenant 2 is a single male in his upper 30's and he just moved back to the area after a divorce. He is unsure what he wants to do in a year from now so risk is higher he will not re-sign for another year. He also does not currently have a job but is a union worker and his bank account has enough to pay more than  2 years rent. The biggest perk here is he is ready to move in next week so the place will be filled immediately and not vacant until Jan 1. However, his situation after one year is unknown.

In either scenario I am paying a realtor first months rent to fill the unit.

In your own previous experiences would you recommend going with a tenant who is single recently moved to the area or a family with a 3 year old? Taking in all aspects of this scenario (Vacancy, commitment, wear & tear, maintenance).

Thanks

Hi Everyone!

I am currently considering purchasing a duplex in Asheville. The current landlord has both sides of the duplex rented. The original lease had them on a year term which has since expired. The original lease states that unless otherwise discussed the lease will be renewed at the same term from the original lease. After several email communications the landlord has sent us emails between both tenants and himself confirming earlier this year being on month to month. We have another recent email reply from both tenants confirming they understand they are on month to month with the landlord. Is this legally binding for the tenants?

Thanks

Hello!

We've been looking to purchase a 2-3 unit property in Asheville, NC. We will be living in one unit for a year while renting the other(s) out. I hear a lot of people renting out the units for short term rather than long term. I would love to hear your experience with either in this area. 

I'm also looking to find average rents for 1,2, and 3 bedroom properties. Both short and long term. I've looked on Rentometer and it tells me a very different number than the rents I'm seeing listed on homes for sale. Would love to get a better idea of the market to make my analysis of the properties I'm looking at more accurate. 

If anyone has any recommendations for a realtor in Asheville that has experience working with investors specifically and is willing to work with someone out of state please let me know! I'm not convinced the one we found has worked with investors before despite saying she has. I know it's a tough market, but everything we've seen is leaving us with minimal cash flow and a low return. 

Thanks so much!