Newbie in Nashville looking for advice

[Robert O'Brien]

Hi all,

My wife and I have been wanting to get in to real estate for a while, and we're finally in the process of purchasing our second property! We're planning on moving in to this second property and renting out the house that we're currently in. We're definitely excited about finally taking tangible steps towards financial freedom, but we're looking for any advice we can get about landlording -- especially in Nashville.

I'm currently reading Landlording on Autopilot as well as Set For Life (both BP favorites, I've seen), but does anyone have any specific information on experiences in the Nashville area? Any anecdotes, information, tidbits are appreciated. 

Thanks, all!

-Robert

[Keith Smith]

@Robert O'Brien You can get a 1 million dollar umbrella policy that is in addition to your current liability insurance. Say you have 500k in liability on your current insurance policy. You can get an additional 1 million on top of that for fairly cheap with an umbrella policy. This way, if something happens in your rental and a tenant tries to sue you, you are covered for 1.5 million. An umbrella policy normally will cost you a couple hundred dollars. Well worth it. I go through Zander insurance and have all my insurance, personal home, rentals and auto bundled. The umbrella just goes on top of those so it covers me if anything happens not just in my rentals, but my car or personal home as well.