All Forum Posts by: Luka Milicevic

Nashville is hot right now. Investors are buying up land, demolishing and re-building on the lot.

East Nashville (Nations) is getting major renovations right now. Same with West Nashville.

I personally can't afford Nashville right now or the surrounding area because I can't compete with the cash offers coming in. I have gone to Mboro and Smyrna now. Both very good rental markets.

Flips I would say east/west Nashville assuming you can afford it.

Rentals, I would venture out to Mboro, Smyrna, and Hermitage.

A tricky situation, but I think what Mike said is what I agree with most.

You don't have to deny them on the basis of the amount of people. 

Alternatively, you could adjust your lease to protect your investment.

Charge a higher deposit

Require all adults to pay for an application fee ($35 will add up for them)

From the surface; I would definitely consider them as tenants. Since there are quite a few of them I feel like there is less of a chance they will not pay rent. 

Great tips, Justin R! I will be sure to do something similar 

Thanks everyone,

I didn't want to bother my tenants if I didn't have to, but also wanted to make sure I was being a good landlord. Thank you for the advice.

Thank you for the replies.

Justin R, when you say "check in". Could you please elaborate; do you actually go out to the property or just give them a call? If you do just give them a call, what questions do you ask?

Hello BP community,

I am a newer investor. I only own 1 townhome and have my first tenants living there for about 3.5 months. They moved in June 1, 2015. They called me for a repair around middle of June. I went out to the property and repaired the issue they were having.

They have paid on time every month but I have not had any communication with them for the past 2.5 months.

My question is, should I check up on them and see how they are doing?

Should I ask them if they need anything?

In my newbie investor mind I consider it a good thing that they pay on time and that I don't hear from them, but I want to know if I'm not being a good landlord by not communicating with them.

Over a 12 month lease, should you be checking in every month with them? Every 2 months? never?

Any advice is greatly appreciated!

Leo, I'm in the same boat with you. I'm mostly doing Rutherford county now. 

I'm a newer investor and so I was looking to start in a more affordable area. 

Mboro and Smyrna provide quite a few good opportunities especially for investors with limited budgets. 

I'm hoping my next investment is somewhere in the Bellevue area, possibly Antioch. I've heard Antioch is a hit or miss area. There are some great neighborhoods and some very questionable ones. Does anyone have any insight?

Nashville is a hot market. Doesn't mean there aren't good deals, just means you have to look harder than you would normally. What Devin said is spot on.

I guess I'm not getting how water/sewer can be 38k and electricity be 6k? I would imagine that to be the other way around. I guess it does depend, perhaps the previous owner was only paying a portion of electricity and the tenants paid over a certain amount. 

Either way, I agree with what everyone else is saying about 2013 statements. Why can't you get the most recent ACTUAL income/expenses?

Nashville is crazy right now and has been for the past year.

Last year I was purchasing a primary residence with a max budget of 200k. Put full price offers on multiple houses and got outbid by over asking offers and full price all cash offers. 

My agent told me that he had clients with a 600k budget who were experiencing the exact same thing. Houses that come up for sale in decent neighborhoods, that are reasonably priced are selling the same day. 

I purchased a townhome this year in Murfreesboro (hour from Nashville) and it's also relatively hot market. 

It looks like everyone wants to live in Nashville!!! 

Something else to keep in mind; a lot of the properties here have an HOA and I've noticed the fees tend to be pretty steep. Make sure to look into that.

I'm not an agent, but I can put you in contact with my agent who I've done multiple deals with. He is awesome.

Best of luck.