All Forum Posts by: John Williams

Hey Tyren, I am a local (Clarksville, TN) real estate broker, property manager, and real estate investor. Try Fortera Credit Union, Cumberland Bank, or Altra Federal Credit Union. They are all local and I've had success with getting HELOC's with all of them.

Cheers!

Hey Heather, 

Thank you for sharing your story! I am glad you were safe from the tornado - that was scary!

The actions you should take will depend a great deal on your goals and your timeline to achieve financial freedom, retirement, etc. For example, knowing the rental market in Clarksville and the area in in which you are describing for your second house, it is likely in an area that tends not to cash flow as much (but may have slightly better appreciation). So, if your goal is immediate cash flow in the short term, it may be better to sell that one. If you are comfortable with little to no cash flow, with the hopes of long-term appreciation, it may be better to keep it. 
 

In my opinion, sometimes real estate is best when you "set it and forget it." Perhaps you should put these two properties on the back burner of your mind and not do anything with them. I like that your first has cash flow and probably wouldn't recommend taking out a HELOC because that would hurt cash flow (unless you are using the HELOC for flips / quick projects).

Because you are a good saver, I would recommend setting your sights on your next deal and letting your current portfolio remain as is (or sell the 2nd house). Think about your long term goals and what you want your portfolio to look like (and where). Should you continue to invest in Clarksville? Should invest at your new duty station? Both?

You could use your savings for a down payment on a new-build (which is a great buy in Clarksville right now). Some of the new builds are going for less than $300k and the builders are offering great incentives. I think they make great starter rentals. 

In addition, you could just go the FHA / conventional owner-occupant route at your next duty station and put 3-10% down and possibly pick up a multifamily with that.

I hope that helps!

I'd love to chat with you further!

-John, Property Manager, Real Estate Investment Broker

Clarksville, TN

If you have the budget for repairs if you rent it out, definitely rent it out! Even after one year, that property may provide thousands of dollars worth of appreciation, you will pay down your loan and build some equity, and you can depreciate the asset. 

Hold onto that bad boy for 5+ years and you will be seriously thanking yourself down the road. 

Just do a little bit of research and connect with a great property manager. You'll find that rental property investing isn't scary at all and a great property manager can actually save you more money than they will cost!

 Hey Stacie! I am a real estate broker and property manager based in Clarksville, TN and I specialize in working with investors. We have a great balance of appreciation and cash flow opportunities in our market. 

I'd be happy to connect further regarding your questions about more specific and nuanced details. 

Thank you for your service! I am a veteran as well. I am a broker and property manager here in Clarksville, TN. I personally like the buy-and-hold strategy and we help clients who share this long-term, wealth building mindset. 

My advice would be to drown out the noise you hear from others with positivity and thorough due diligence. As long as you run your numbers and your estimates are conservative, you'll do okay in the long run. Real estate is very forgiving. You won't get rich overnight but you can certainly start to snowball a portfolio and build wealth slowly over the long term.  

Howdy!

Define "better."

What have you achieved so far? What is your vision? What are your short term goals?

Step 1: Ensure you can get financing (is it a cash purchase or will you need a loan). 

Step 2: Narrow down your "buy box" (are you market-indifferent, are you looking for a certain level of cash flow, etc.).

Step 3: Connect with real estate agents and begin making offers!

Welcome to the party! What is your goal in real estate?

Look at "sub" markets of major metros. 

Clarksville, TN has a great balance of cash flow and appreciation and strong fundamentals. We receive a lot of the benefits of being near a major city (Nashville) but not high prices. 

 House hacking is perhaps the best strategy to get started in real estate. Start by talking to a lender to determine how much you can afford (and that you can qualify for a loan). 

Next, analyze deals with an investor-friendly agent.