All Forum Posts by: Michael H.

Hi, 

This is a newbie question, but I wanted to get your opinion on it. I have a house that I  rent out rooms to college students. I have one interested in a room now but just until the fall semester starts (about a month and a half). I require tenants to submit for a background check and credit check. Re background check was submitted back on June 20 and still waiting on the results. The student is 20. Would you continue to wait for the background check to clear even though he appears to be low risk? Also since he is only going to be renting for such a short time, I also feel like it is not worth my time since I will have to find a replacement pretty shortly anyway. 

For those of you that rent to college students do you require the same checks? Thoughts?

I don't think you should invest more than five percent per year of your yearly salary into company stock. It is very risky to buy a lot of company stock. If there is a major problem at your company, there is a good chance you won't know until it is too late. Before the recession hit people at financial firms were putting a huge chunk of their money in company stock. When the recession hit, they lost everything (the stock tanked and they lost their job). Even if you see it coming, you have to wait a year to sell. There is no guarantee that the stock will continue to go up. And this is coming from a guy that loves the stock market (love REI too).

Just my two cents.

 Thanks Brock! It is a nicer area and right next to a college. I was going to rent it out to college students. Might just call the city and ask them. I would rather be safe than sorry.

 Thanks Nathan! You make some great points. I was thinking about renting rooms out to college students. My hope is they wouldn't know each other before as that could create problems like you mentioned. 

Thanks Katie! I saw this about Columbia. Rock Hill might have a similar policy.  

Hi BP, 

I am in South Carolina, rock hill area. I have a question about how many people can be in a house that are unrelated. Are there any SC laws or county/city laws about only so many unrelated people can be in the same house? I have checked online and it has been tough to get a straight answer. 

Thank you in advance!

Thanks @David Chwaszczewski! I will PM you. 

Welcome Silvana! I am in SC too! This has a wealth of information. Looking forward to seeing you around the site.

Hi BP,

I joined a several months ago and have been browsing the site and reading a lot of interesting material on here. This seems like a great community.

I moved to SC (Rock Hill) last year from CA. I bought my primary residence last year and renting out the extra rooms. Looking at investment properties now (buy and hold). I am trying to figure out property taxes in SC for investment properties. I know it is 4% for primary and 6% for property you don't live in and I know the millage rate has something to do with it but I am having a hard time coming up with a number that it will be. Does anyone in SC know what the property tax would be (like $2K for $100K property)?

Thanks!

Looks like it will be a good time. Looking forward to networking! Just confirming it is on 8/1 at 10:30am.