All Forum Posts by: Perry Sigmon

@Account Closed

Yes, you can take the pre-licensing courses online. 

As for the best provider(s) for the online format, I cannot speak from personal experience but I've heard from many new agents say that TREES (Tennessee Real Estate Educational Systems) was well worth the money.

Regarding your TN license, you will need to take the 60-hour course (Real Estate Principles) as well as the 30-hour course (Course for New Affiliates), and pass the Affiliate Broker's license exam. At that point you can hold your license with a principal broker and perform PM duties under their firm. I am only licensed in TN, not VA, but my understanding is that VA only requires 60 hours of classroom work.

The TN courses can be taken online but I'm not sure about VA.

@Nathan Wandell - Welcome!

I am not qualified to speak about the Nashville market specifically, but I agree with @Josh Braun regarding his advice for reserves and expected costs.  Having sufficient funds in reserves and proper expectations for repairs and cap-ex costs is crucial to keeping a rental property operating smoothly.

@Jerry Hardin

Welcome.

I hope your future ventures bring you success, personally and financially.

@Silvia B.

I have never used a deductible clause in a lease agreement (though in theory it seems to be a good idea).  Like @Lynn McGeein, I do state that the landlord is not responsible for repairs to the washer & dryer. 

Thanks to all for the feedback. I am also currently researching if formation of an LLC is beneficial to my near-term and long-term investing plans. I've received many different answers from many different parties, so any advice from fellow investors is helpful.

Agreed. Depending on office custom, the range of $500 - $1,000 would likely be fair. 

I am interested in translating my years of experience in the world of 1-to-4 family properties and create a plan to expand into commercial real estate investing.  With so many books, seminars, etc. (some of which I have purchased and processed already), what advice do you experienced commercial realty investors have for a new [commercial] investor? What sources of information would you recommend as being the most informative and the best value?

All feedback is welcomed and encouraged.