All Forum Posts by: Tanner Jenkins

@Joe Norman I do have one personal rental property under my belt, but like you said I'll need more than that to become a legitimate business. Right now I'm trying to use that one to get my foot in the door and continue to build from there with the help of an experienced management staff.

@Will Fraser Thank you! The biggest thing for me is to make sure I'm in compliance with the law, so it doesn't come back and bite me. I appreciate the suggested approach of a "win-win" scenario.

@Nathan G. Thank you for your response, I appreciate the advice!

Hello everyone! I have decided to start an LLC for property managment with the eventual goal of owning my own properties under this company. For the time being I am trying to stay in my community and offer property managment to local owners/investors. While I am in the process of putting together my team, systems, and infrastructure in place I am having a hard time understating one concept: operating under a broker.

The for he state of North Carolina requires that any property managment company operate under a broker. While the long term plan involves me acquiring my own license, my short term solution is to operate under a licensed one in my local area. Does anyone have any experience with working along side a broker(s) that would care to share their thoughts, as well as a suggested approach to solicitating an offer with one?

@Carlos Paz I would be grateful for whatever connections you have. Thnk you, I don't know why I did not think of that in the first place!

@Carlos Paz Thank you! I appreciate the advise! The neighborhood the property is located in is very family friendly. Great neighbors and good schools around, plenty of shopping areas as well. For this reason I think my advertising would be better suited towards a single family. The price that I believe I can reasonably rent to a family with more than one source of income would yeild more cash on cash return then renting rooms out individually, gearing towards people with one source of income. I have found this not only through researching the area but also in my pursuit of attempting to rent out the single room that I currebtly have at the rate I would need to not have a negative or stagnate cash flow. Does that answer your question, and do you believe that is a fair assessment? Is there another way I could be looking at it?

@Andrew Powers thank you! The work is pretty extensive, it involes remodeling the whole kitchen and bottom floor of the house. The rooms have already been renovated so there is not much work to do there. The renovation focuses on the common areas, which are far out of date, and replacing the appliances. Most of which do not work.

Hey everyone! I just bought my first house in Charlotte, NC in late August with the intention of doing a little rehab while I live there. It's a 4 bed 3 bath and I currently have one roomate that helps me split the morgatge. I am advertising another one of the rooms and making sure to add all my expenses into the rental cost (property managment, vacancies, repairs, cap ex, etc.).

My plan for this property is to live in for approximately a year while I do the renovations, and then move out when they are complete and rent the house as a whole rather then room by room.

My issue at the moment is whether I should wait to do the bulk of my renovations shortly before I move out or to do them now and be able to advertise my additional room for more until I am ready to move out.

Am I approaching this in the right way, and what other advise do you guys have for me?

Hello Padric and thank you for sharing about your recent experience! I am new to real estate and don't have any experience, so forgive me if this a relatively well known thing, but I was under the impression that VA entitlements were limited to personal loans and required the buyer to occupy the property for a set amount of time. Is this not the case?