All Forum Posts by: Melonie McCallum

@Doris Logan contact 11 Capital Finance Megan is wonderful.

@Rio Peterson I am glad you reconsidered not working with this gentleman and had the smarts to ask questions before entering into this partnership. However, there are legit partnership opprotunities out there. I have a situation whereby I do not have the money to complete a reno and would love to have a partner. I am sure our audience can think of many scenarios where a partnership woumd be beneficial. Good luck!

Hello. I have recently attempted to find a General Contractor on Thumb Tack. I was careful to read the reviews and thought I had found one. The contractor was pleasant, patient and answered all of my newby questions. I then sought my financing and the lender asked for my general contractor's license and liability insurance (which my contractor said that he had). After not hearing from the contractor after two days of unanswered calls, I contacted the state licensure board only to find that the contractor had a license but did not file statement of taxes; therefore, his company no longer has an active license. What should be my next step in finding a good contractor? How much should I look to pay him to oversee my project? Any one have referrals for Atlanta, GA?  

Hello, 

I am looking for a list of Trans Union lenders.  I would like to shift some debt.  Anyone know of lenders who use Trans Union only?

@Myka, good tip. I will try Roomster.

Hi Collin, I love student rentals. I am in the Atlanta area and have found that my per room rates are higher than what I can achieve renting to one tenant. My units are fully furnished and include all utilities (cable, internet, water, lights etc.). This cuts back on roommate infighting because someone doesn't have their share and limits property deterioration. My deposits are one month's rent and I preform a background and credit check. This sems to set the tone for the more serious student (many of my tenants are grad students). Most university's have ther own student newsletter and or Facebook group. When I am looking for a tenant, I place an ad. The charge is typically minimal. I also use other roommate search sites like Easyroommate.com. I pay the annual fee just because it is easier for me but you can sign up for a shorter contract period to trim your expenses. Typically, I write my leases in 6 month intervals with a month to month from then on. This gives me an out when I have a roomie who has proven to be a difficult tenant. I haven't had many students who want to let the space go when school ends for fear that they will not be able to find a unit with the creature comforts I have put in place. In addtion, the space is very attractive to young professionals who want to save money for their very own home. I have been playing around with the idea of AIRBNB rentimg for the summer breaks. I haven't taken the plunge yet. Honestly, my issues with tenants have been miminal. I have over improved the furnishings (Thrift store and Craigslist finds) so that it is appealing to a younger crowd. The students really seem to appreciate the "upscale dorm look motif" even if the furnishings are second hand items. Let me know how I can help. All the best Collin!

@Patti Robertson Can anyone view the September seminar?

Please over look the typos - Put the blame on my fat finger syndrome : ))))

Hi Greg, If your expertise is limited, you may want to consider using services TAKL or Angie's List to bid the job out. Ask the contractors if they would allow you to assist them. Some contractors are anxious to have an extra hand. If they are uncomfortable with you helping, observing their work can also be benefical in developing your knowledge base for furture projects. Inam always there to pass a hammer, caulk, manage the generator, etc. It may cost me up front, but I know the job has been completed a qualified professional and I am building my skills. I can't wait to hear of your progress : )

I think making the situation work for you is best. Letting them stay with the rent increase allows you to build depleted funds and stablize your situation. My word of caution is to prepare yourself for dealing with the issue - your property manager. If you feel the property manager is worth holding on to and grooming maybe having the PM draft the new lease changes, conference with the tenants to ensure full understanding of your terms and this is their last chance before being terminated. If they are illegal, english literacy and system comprehension may be an issue. Lastly, take this time while you have a paying tenant to develop your plan on how you will terminate the lease. Familarize your self with the eviction process for your county, list phone numbers, plan for attracting new tenants, etc.