All Forum Posts by: John Williams

We're getting a lot of eyes from California. I like to say that Clarksville, TN is where cash flow meets appreciation! Great market for out of state investors!

I like the strategy - utilize leverage to grow/scale quicker... Maybe try to buy 3 doors and save the rest for reserves (CAPEX, maintenance, vacancy, etc.)

Welcome! I'm executing on a similar strategy here in Clarksville, TN - where cash flow meets appreciation! I'd love to connect!

I was able to access a business line of credit secured against an investment property to purchase other investment properties. 

Clarksville, TN - where cash flow meets appreciation! 

Drop your top tip for new/inexperienced landlords. What is something you wish you would have known when starting investing in long-term, buy-and-hold rentals? I'll start:

Rental property investing can be a great tool to build wealth! I'd suggest the need to budget for reserves. Have a bank account for vacancy, maintenance, turnover, and CAPEX. Fund the account initially and make monthly contributions to it from the rent that is collected (even in months where these expenses do not occur). If you have sufficient reserves, most problems associated with rental property investing can be mitigated!

Tell me 1 good thing and 1 bad thing about a property manager you've used... What makes a great property manager? What makes a bad one? 

Keep calling around, someone will do it! I've had luck getting a LOC on an investment property with a local credit union. Try all the local banks and credit unions. Speak to someone on the commercial/business side

You can probably get it done with a very simple contract. Most realtors are just used to using their standard, lengthy association forms. They are typically longer because they include additional clauses that are meant to protect the various parties involved. However, that does not mean that you can't use your contract. It would be smart, however, to run it by your preferred title company to make sure they can close on it. It would also be smart to run it by an attorney to ensure it constitutes a valid contract. 

The question you should ask is, where can you get the best ROI? If you have a very low interest rate on your other rental, it may not make sense to pay that off. For example, if your rate is only 4%, it may make sense to deploy your capital anywhere else you can achieve a better return than 4% - that could be via another rental, private lending, and even something like stocks - or something else!