All Forum Posts by: Ken Dillard

BP community helped me find Quest several years ago and no complaints. I was trying to get a distribution from Inspira with no response for weeks. They then handed me a personal agent to walk me through the process. I was clear on the process in general but the Inspira rep assured me her suggestion would be easier. 

After following everything and completing the forms requested, a second Inspira employee asked me why I "chose" to do it this way. I clarified I did not choose anything - the Inspira rep walked me down that path. That process failed and had to restart the process that they again walked me through. After reporting they had everything they needed - no action for 2.5 weeks. When I followed up they reported they could not handle it in the second way they walked me through.

I asked for no more phone conversation and only to communicate with me via documented email and with their compliance or legal team included.

Suddenly 2.5 months after my first contact, they finally completed the transaction in the original way I was discussing.

Now that it is complete, I will be moving to a different SDIRA company - if anyone has any good suggestions, let me know. BP did right by me the first time.

David Greene that now hosts the podcast runs One Brokerage.  I left my W2 job and simply contacted them to ask what products do I qualify for after 1 year of self-employment income and they solved my problem.  Worth a call to see what options they offer.

@Derek Tellier hosts a monthly meet up with a pretty good turn out.  He floats it from Knoxville, Maryville, and Sevierville.  He posts on BP a week or so out from the event with the time and location.

Besides the previous advice on confirming what is allowed by the lease, look up the ever changing Nashville AirBnB permitting requirements. Nashville is not considered an AirBnB friendly city and has lots of requirements - even for owner occupied STR.

@Wayne Norman@Noah Ankney - Congratulations on looking at TN and getting started.   I live outside Nashville but as I invest in Knoxville and Gatlinburg, I travel over that way regularly.  Reach out if you just want to talk about the area or want to grab coffee (or beer) sometime.

@Derek Tellier hosts a monthly meet up also and I have made some good connections there from lenders to HVAC, and just some nice investors.  

Message @Devan Mcclish with some questions.  He does a ton of property management and great at responding with help.

It is a strange thing.  I have had several banks tell me they cannot due to new regulations but that seems odd to me.  We are in the middle of a cash out refinance of a student rental property and the lender - who originally said no problem - came back to let me know they cannot.

So we are refinancing the loan and then going to do a line of credit immediately and they were OK with that.

Congratulations on the growing family.  I went to Heritage High School just to your west in Blount County.  We live in Middle TN now but have investments in Knoxville and the Smokies.

@Derek Tellier hosts a meet up that is good and floats between Knox, Maryville, and Sevierville.  Here is the link to his April info:

https://www.biggerpockets.com/...

I have been reaching out to a few people to see about lining up a flip in Knox / Maryville / Oak Ridge.  I will PM you some info.

Good Luck!

@Tabitha Gier - Welcome (soon) to Knoxville.  I grew up in the area and have two rentals (1 in Knox and a short term rental in Pigeon Forge / Gatlinburg).  @Derek Tellier hosts a monthly meet up.  You mentioned visiting in May so here is his recent post about the May date.

https://www.biggerpockets.com/...

Lots of good people on here with knowledge of Knoxville so feel free to jump in and ask questions.

Good luck.

I am not a person who wants to wait on much.  However in this case, I would say take the next 12-18 months and set yourself up for success when you move.  Use the time living with your parents to bank as much cash as possible including a significant emergency fund to cover the repairs and maintenance which always happen to us right after we close.  As @Joshua McMillion noted get your team in place and maybe even find those renters for the "hacking" portion of the house hacking plan.  Walk in ready and financially sound and you have a much better chance of this first investment doing well and building to the 2nd and 3rd.

Let us know where you land as there is a lot of support in TN.  Good Luck!