All Forum Posts by: Luka Milicevic

 I had a buddy just spend $44k in direct mail in Nashville proper and not get a deal.

My last round of direct mail was 2.5k in a suburb and didn't get any hits. 

@James Gill

Do not accept the word of just one lender. Shop the loan out to as many lenders as you need to. 

My last BRRRR, I had to go outside of my go-to lenders because I wasn't getting the loan I needed.

You might run into some issues with the refinance because of how tight lending is right now, but talk to as many lenders as you need before you land on one. 

I just can't believe you can buy a triplex for 177k!

@Alexander Berger I actually just thought about you the other day bro and was curious how this is all playing out. I'll reach out soon and get you an electrician. 

I've watched enough Instagram fail reels to know this is a bad idea. Watching people get drunk and start ramping golf carts and then falling out is always a good one to watch....as long as it's not your golf cart!

I will say, personally if I'm going to a rental and they have a golf cart that would be AWESOME and I would love it, but I know I'm responsible. Most guests would be responsible, but it's the few that ruin it for the rest of us!!

@Account Closed

Welcome to the forums!

Brentwood and Franklin are located in Williamson county which is one of the wealthiest counties in the country. Most of the housing is comprised of class A residential so the rent to value ratios are not going to be great. You would buy there to live or if you just want to own property in the best location possible....

Overall, the long term rental game is rather difficult in the middle TN market right now, especially in the Nashville area. We have had so much appreciation in the last 2 years and rents haven't quite kept up. They have gone up substantially, but not at the same pace as home prices. So, right now we are in a low rent to value ratio in the greater Nashville area. 

In terms of up and coming locations....

If you drop a pin anywhere in Middle Tn it's going to be a "hot spot" in the near future if it already hasn't become one. There isn't a place in the MSA that I would tell you to avoid. 

A few places I'd recommend you look into:

Madison - it has been up and coming for a long time now and I believe there is still going to be a lot of growth here over the next few years. The council person is pushing for developments in the area and so they location as a whole is pro growth. 

Whites creek area 37218 zip code. I didn't like this location a few years ago, even though it was starting to turn. The reason I didn't like it was the lack of commercial that was out there. you had to drive to get anywhere. That is starting to change, and the larger housing developments are starting to move in. 

Dickson - Affordability is a big plus here. Located along I40 - the least congested highway into downtown. A lot of homes here being built at the 350k price point. Again, affordability is the big plus here. There is commercial going in as well, and several larger developments are getting re-developed and revamped at the moment.  

My other location I like at the moment is going to be Columbia TN. The Ultium cells factory is underway there. A partnership with LG and GM to build a factory to produce car batteries. It's really in Spring Hill but right on the border with Columbia. I also like it due to the affordability factor. You can get in sub 300k on a decent property. 

With all the jobs in Franklin and Brentwood, people were pushed south for housing in Spring Hill and Thompson's station. With those two areas exploding and becoming less and less affordable, the next stop was Columbia. All the buyers that I represented that bought houses with me in Columbia all work in the Franklin/Brentwood area. 

I could go on for days, but that's just a highlight of a few places to put on your radar. 

Right now, I'm looking for LTRs in the locations mentioned. Looking to build STRs in Nashville. Renovations anywhere in the Middle TN area. It all depends on what strategy you want to follow. Rates are high...that's the new normal. We need to accept that and make things happen in spite of where rates are right now.

Let me know if you have any other specific questions. 

 Those are legitimate concerns. You will need to clear everything with your lender before doing any quit claiming. 

My first property I ever bought the lender had me sign that I will not transfer into an LLC. You will most definitely want the blessing from your lender.

I have not had an issue except for my very first property which was an FHA loan.

If you're looking to really double/triple in a year then don't waste your time with the long term game of rentals.

use your money to market for properties and get the best deals possible. 

From there, do flips and wholesale. That's the fastest way to get active income. 

I'm always surprised to see the number of experienced investors saying no to LLCs.

It just goes to show there are MANY ways to go about this business.

One of my best friends is a RE attorney that specializes in construction litigation. He says owning property outside of an LLC is financial suicide. Granted, he has seen the worst of the worst. He has repeatedly told me that it just takes one lawsuit to wipe out your life's work.

Everyone mentioning umbrella insurance is spot on, and I 100% agree with getting an umbrella policy. It's an insurance policy though, and what do we know about insurance? They will attempt to not pay in anyway they can. Insurance doesn't cover everything. You can get sued for 10 million other reasons that won't be covered by insurance, but that someone will have a claim to your assets. 

In my state of TN, it's not expensive to open an LLC and it's not expensive to maintain one.

It is nothing more than a LAYER of protection. LLC is a "limited" liability company, not an "eliminate liability" company. It's just another layer....

I would not own property outside of an LLC. Even as a single member. If you maintain it properly, don't co mingle funds, then it's a legitimate entity. When you co mingle funds and don't maintain it properly, a judge is going to look at it as an extension of you and basically void the protection it's supposed to provide.

I am all about as much protection as possible. Insurance + umbrella insurance + LLCs and Trusts! 

Happy investing

I think you were very kind and accommodating with how you handled all of it. I would have done the same. 

I'm not always concerned with WHO is at fault. If I can help, I usually will.

The only thing you can really do now is prevent this from happening again. I'd contact the HOA on a daily basis for updates until this gets fixed.