All Forum Posts by: John Williams

Good day all. Hope all of you doing well. Currently I am in Ontario, Canada. Realtor for few years. This summer planning to permanently move to Texas to start a Property Management business. Currently I manage personal rental property here in Canada. I am looking for a mentor/coach who can help/guide me through the business. I believe there is no better place  than Bigger Pockets to find the most expertise. Looking forward to the responses.

@John Williams Just bought a property in Clarksville, might be 1% or close to it, I'm projecting 0.00919%, so close but no cigar.  I like Clarksville and Nashville, when I was in the capital this year I counted 16 construction cranes in downtown. Davidson is the fastest growing county in the state and 6 of the 7 fastest growing counties are surrounding Davidson/Nashville.  The one fastest growing county not in Middle TN is Knox County at Knoxville

@Alan NA I've been investing in Central PA, which includes the fastest growing county in the state, Cumberland County.  Prices are up here, as well as rents, but rents haven't kept pace with prices.  To find higher returns and lower prices, I'd suggest looking counties more rural, at least 50 miles away from any metro area, beyond commuting distance from any large job center.  Perry County, PA could be one such county with a population of 46,000 and a density of 83.1 per square mile.  There are no hospitals and in 2010, Perry County got its first traffic light.  The eastern part of the county has more population and is commutable to Harrisburg, while the western part is more rural. Prices are lower in counties that have little to no growth.

I'm screening applicants for my rental. Actually I have had two applicants so far with great credit scores but couldn't provide bank statement showing rent payment history. I went by the addresses showing on credit reports and asked them which ones are rentals and the landlords' contacts.  The 1st applicant told me those addresses are either her grandfather or aunt's houses. The last address was a rental but she couldn't give me landlord's contact.  

For the 2nd applicant, her credit score shows 770. She said she paid all rents in cash. When I asked her to provide the bank statement showing the cash withdrawn, she said she keeps cash at home. When I called the landlord (the contact she provided), the landlord was all over the place too. She told me she owns the house but when I told her the county record it's under a LLC. She doesn't know what LLC is.

I'll pass those even their credit scores are great and their income are 3x the rents.  I found out those two factors still couldn't guarantee they pay their rents on time. 

Anyone have the similar experience?

Thanks
NIna