All Forum Posts by: Stephanie Walker

I'm with the crowd on this one. I prefer at least a queen bed if it can fit comfortably in the room. Though, if you're looking to really maximize space, maybe look into a queen/twin or full/twin bunk bed instead of twin/twin.

Hi Saad! I think it's super important to, #1, educate yourself on landlord/tenant laws in NC. Whether you are going to self-manage or hire a property manager, you need to familiarize yourself. Here is a booklet from HUD: https://ncdoj.gov/wp-admin/admin-ajax.php?juwpfisadmin=false...

A licensed property manager will be able to utilize the NC Residential Rental Agreement, Pet Addendum, etc. If you self manage, there are several websites where you can download your own rental agreement or, my recommended option, would be to contact a real estate attorney to assist in drafting an agreement that both protects you and your asset while ensuring that you are well within the laws that surround rental properties

Sites to post on: Apartments.com, Homes.com, Zillow and MLS seem to be where we get most of our long term rental inquiries.

I am a property manager local to Charlotte and am happy to assist. I also highly recommend @Maranda Tucker. Good luck!

Hi Grace, I'm a property manager here in the Charlotte market. I'd love to discuss what you're looking for and how we can best help you. I also recommend @Maranda Tucker with White Property Management, who is also in the Charlotte market and will definitely take great care of you as well.

I live in and cover the Gastonia area. I'd be happy to assist!

Hi Jinglei, I’d start by opening the dialogue with agents in the areas you’re interested in and speaking with property managers in that area as well. It’s important to get really keen on what to expect in those markets for both long term and mid term. I’m a broker and I manage midterm rentals in NC and SC. We work with new investors all the time and, like you, they aren’t able to afford and/or scale their portfolios in their home state. You need to have a trusted team on the ground that can help guide you. 

I’m a BIG fan of the Greenville, SC market. We are currently looking to pick up a new investment property there and have several clients looking to do the same. They will likely all be MTRs!

We refer all of our clients to Shaun Gamble with Veterans Home Inspections 704-755-4663 or Jim Curtis with Pillar to Post 704-718-0323. I've worked with both of them for years!

 These are MTRs. I only manage MTRs.

I think it depends on your situation. DSCR loans (at least when closed under an LLC) don't show up on your personal credit report, don't affect your DTI and can be advantageous in certain scenarios. For example, if you're self-employed, have the max amount of conventional loans out or you are maxed out on your DTI.

However, the rental comps need to cover at least the mortgage payment. That's the biggest obstacle some of my buyers are going through right now with these higher interest rates. DSCRs are also very expensive. Points are higher and rates are higher.

Generally speaking, if you are able to qualify with a conventional loan, I'd go that route. If not, DSCR is a great solution.

I would look at Furnished Finder and sites specifically catered to room rentals. See what your average and median prices are between the two and go from there!