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All Forum Posts by: Kelly Johnson

Kelly Johnson has started 6 posts and replied 23 times.

Post: Experience renting by the room to travel Nurses

Kelly Johnson
Posted
  • Real Estate Agent
  • Columbus, GA
  • Posts 24
  • Votes 20
Quote from @Meagan Peters:
Quote from @Kelly Johnson:
Quote from @Meagan Peters:

@Kelly Johnson

Thank you this helps a lot!

Do you mind me asking how much rent you charge/month? I know it varies a lot by location (I'm in Moncton, New Brunswick), but just out of curiosity.

Do you find having a 3 bedroom is still appealing to travel nurses, even though they will be living alone? Or it's too large?


 A 2 bedroom would definitely suffice for a nurse. I currently have some military guys in there so a 3 bedroom is perfect for them and they could care less that they are sharing a bathroom. I get $1875 and once they move out I am upping the rent a little, maybe $1950. I will look for 2 bedrooms in the future b/c I think I can get closer to a hospital if I look for something smaller. 


 Nice, thanks for that

Do you mind me asking what the purchase price of the property was? I'm looking at 185k with 5% down but it seems that in factoring in all other expenses (vacancy, capEX, repairs, utilities, management, etc.) I would need closer to $3000/month to cashflow...

Any insight on your numbers would be greatly appreciated :) 


 I bought for around 140k and put 60k down, it did not need any work done to it, just furnishings. Also note that at first I was nervous about vacancies b/c I marketed it and then it sat for a bit but it seems travel nurses book very close to the the time they actually will be in the area, about 2 weeks out from move in date. Maybe that has to do with when their jobs are confirmed, I'm not sure. Another avenue to explore are with any real estate agents you know as they may have clients that need a temporary space until their home is ready to close on. 

Post: Mid-term rental deposit, application fee, & rent collection

Kelly Johnson
Posted
  • Real Estate Agent
  • Columbus, GA
  • Posts 24
  • Votes 20

Pet deposit is separate from a regular security deposit for me. I think most pet owners expect that. 

Post: Experience renting by the room to travel Nurses

Kelly Johnson
Posted
  • Real Estate Agent
  • Columbus, GA
  • Posts 24
  • Votes 20
Quote from @Meagan Peters:

@Kelly Johnson

Thank you this helps a lot!

Do you mind me asking how much rent you charge/month? I know it varies a lot by location (I'm in Moncton, New Brunswick), but just out of curiosity.

Do you find having a 3 bedroom is still appealing to travel nurses, even though they will be living alone? Or it's too large?


 A 2 bedroom would definitely suffice for a nurse. I currently have some military guys in there so a 3 bedroom is perfect for them and they could care less that they are sharing a bathroom. I get $1875 and once they move out I am upping the rent a little, maybe $1950. I will look for 2 bedrooms in the future b/c I think I can get closer to a hospital if I look for something smaller. 

Post: Mid-term rental deposit, application fee, & rent collection

Kelly Johnson
Posted
  • Real Estate Agent
  • Columbus, GA
  • Posts 24
  • Votes 20

@Jonathan Hong, what if only part of your pet deposit was non-refundable? Inevitably you have to clean a little different if they have a pet so that costs money but if they haven't destroyed something then $300 is a little steep. Maybe $100 non-fundable and $200 refundable. 

Post: Mid-term rental deposit, application fee, & rent collection

Kelly Johnson
Posted
  • Real Estate Agent
  • Columbus, GA
  • Posts 24
  • Votes 20
Quote from @Jonathan Hong:
Quote from @Allen Duan:

@Jonathan Hong I would be comfortable with $1000, but you have to decide what your risk tolerance is with this. Think about what could go wrong and how much you would need to cover it. Don't worry about what the contractor thinks or says, you have to make your own decision and they don't know your business and all the specifics you have to consider.

Thanks for your insight! I also should have mentioned that I charge a $300 non refundable pet fee per pet as well. I had the worse case scenario in mind but also wasn’t sure if I was charging too much or too little. I might have been charging too much. This property is in TX. It’s been radio silent thus far. 

Post: Experience renting by the room to travel Nurses

Kelly Johnson
Posted
  • Real Estate Agent
  • Columbus, GA
  • Posts 24
  • Votes 20

I have a MTR in an area that has a lot of travel nurses and considered this in the beginning, marketed it as both available by the room and as a whole unit. Mine is a 3/1.5. My first bookings were all for the whole unit so eventually I just gave up marketing as by the room b/c it's easier on my to do whole unit. I think if you had a dedicated bathroom for each bedroom this wouldn't be a big deal but sharing a bathroom space with a stranger would be awkward to me. 

Post: Any Investor-Friendly Agents in Columbus, GA?

Kelly Johnson
Posted
  • Real Estate Agent
  • Columbus, GA
  • Posts 24
  • Votes 20

@Avrom W. Smith, I am a local Columbus, GA agent and investor as well. Would love to meet up and see how I can help you in your RE journey. 

Post: Nurse moving to Georgia

Kelly Johnson
Posted
  • Real Estate Agent
  • Columbus, GA
  • Posts 24
  • Votes 20

I agree with verification of funds that would cover 2 months of rent. There's a large demand for nurses in Columbus so I don't think she would wait long to find a job as long as the reciprocation comes through quickly. If you're in the market to expand your rental portfolio give me a shout, I'm a local Columbus agent. 

Post: Easy mid-term rental

Kelly Johnson
Posted
  • Real Estate Agent
  • Columbus, GA
  • Posts 24
  • Votes 20

This is in Columbus, GA which fits the profile of a city that could use mid-term rentals. I've definitely seen the supply of them increase in the last two years. Columbus is a military town (Ft. Moore) with a big industry base. I am full-time real estate if anyone is interested in working together to look for potential properties that would work well as a mid-term rental, or any type of strategy for that matter. 

Post: MLS listing in unfamiliar area

Kelly Johnson
Posted
  • Real Estate Agent
  • Columbus, GA
  • Posts 24
  • Votes 20

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $82,000
Cash invested: $82,000

3/2 small home in a desirable area that went up for online auction as a foreclosure.

What made you interested in investing in this type of deal?

I had sold a home across the street a year ago and knew this home fit the same description and would likely have a much larger ARV compared to purchase price. It was going to leave me a lot of room for error on my first fix and flip.

How did you find this deal and how did you negotiate it?

Advertised on an MLS that is not common in the area so the only people who really knew about it were a few investors that were somewhat familiar with the area. No negotiation, just available at time of online auction and knew the comps beforehand.

How did you finance this deal?

HELOC on my own residence

How did you add value to the deal?

Remodeled primary bathroom with all tile shower, replaced toilets, redid all flooring, painted interior and exterior, all new kitchen cabinets.

What was the outcome?

Knew someone who wanted to buy it but couldn't just yet, rented it to him for a year and will close in just a few weeks.

Lessons learned? Challenges?

My sales price may have been a little low since I didn't have it available on the open market to invite competition. However, I was able to lower capital gains taxes and cover all expenses for holding it for the year and knew the tenant has a vested interest in keeping the property up.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

no