All Forum Posts by: Devan Mcclish

@Brandon Baird first off, not giving legal advice, just speaking from my own experience as a seller with buyers trying to walk out of contracts. sounds like a rough spot for you not having a contingency to walk away. Regarding a material defect, if it's a brand new build, they would have no way of knowing the internet is poor. The seller does have the ability to sue but a lot of people do not realize what all the seller can sue for all damages including but not limited to: the earnest money, any and all repairs they had to make due to a repair replacement addendum, all holding costs during the time it was contracted and holding costs going forward to find the next buyer, difference in price and closing costs from the next sale vs. your transaction, IF it's a TAR form, they can also get their attorneys fees. 

My advice if you really want out of the transaction is to try and settle it and get a mutual release

Hey Guys,

We just started 2 meetings ago. Basically the meeting goes like this

6:00PM meet at Toro Title in East Nashville to start networking

6:30PM speaker of the night covers a topic (IE: Attorney Matt Anderson just covered contractors last week. Next meetup is finding deals organically with zero money)

7:00-7:15PM speaker ends and we move over to East Nashville Beer Works and continue networking

8-9PM once everyone calls it a night we go home

So far we have 15-20 attending the first two meetups. If you send me your email, I'll add you to the list. 

Let me know if you have any questions

Bi Weekly Meetup with networking, speakers, and drinks. Come out and meet other players in the nashville market

I think the repairs are slightly low and your management is too high. We manage properties for 10%, if you're getting charged 12 I would go somewhere else to lower that. Taxes and Insurance I would get exact numbers and make sure those are not just estimates. If they are exact, great. Everything else looks pretty good

@Zhi Qiao I run a management company in Nashville that manages and owns STRS. There are several restrictions on both types. It's still a viable option and I like it if you can get in. Metro is only going to limit the supply coming online with the demand remaining very high. In a nutshell:

Owner occupied - currently you have to own the entire parcel, so if you are in a HPR you need to own both sides. 

NOO - You need the right commercial zoning - CS, CN, CL, MUL, MUA, OR, RM (banned in 2022). If you don't have one of those zonings you can't get a permit

Hope that helps!

Meetup brought to you by Devan McClish, Guest 180 on the BP Podcast, and Olympus Property Management. This meetup is designed to bring investors together to connect them to other investors, agents, managers, contractors, lenders, and other vendors in the area. We will start off with introductions, into a brief topic of the week, and lastly into open discussion. There will be no sales pitches, rather a place and a meetup local investors can connect in order to grow their businesses. If you would like to attend, send an email to [email protected] or reach out to 615-418-3133 

sent you a PM!

@Latham Gaines I am a property manager in Nashville. We also find rental properties for investors. Would love to connect!

@Mohit Jain I run a property management company in the Greater Nashville area. I would strongly suggest hiring a manger if you do not know the process of placing tenants. Qualifying tenants, having systems in place is a crucial aspect of managing rental property. Let me know if you need any help

@Sheng Yang sought legal advice on that one already, it's still considered a transfer. If metro catches you doing that, they will revoke the permit