All Forum Posts by: JT Spangler

@Thomas P.

How local is local, because I'd love to see if they'll loan in Nashville.

I use CudaSign and SignEasy to e-sign various documents. Both are iOS apps (I assume they're also google apps, but I don't use that platform), and also allow you to sign with your finger (or save a signature on file). I like that better than the e-sign where it inserts text as your sig. 

There's nothing wrong with this, by code. It's common in commercial and industrial spaces, in fact, to use the copper supply plumbing as part of your ground grid. 

That said, inspectors often have their own ideas about what they want to see, so don't be surprised if you get one who wants things run somewhere different.

 I just went through this with a basement unit in East Nash. It took 3 weeks, with 5 applicants who qualified and all either backed out, found somewhere else, or decided they couldn't move for 8 weeks, before I got it rented. And I dropped the price by $50. 

That said, it's the first time I've rented it, so perhaps some of that is due to it being a basement unit. My understanding is that those take a particular type of tenant and don't typically turnover as fast. 

But some of it was definitely the time of year. There just aren't as many people moving.

The fair and legal way to do what you want is to have written criteria that say no more than two occupants per bedroom allowed, and then stick to that. And then never again discuss not renting to someone who has too many kids (which is almost certainly a Fair Housing violation*); rather, let any applicant know that a 3 bedroom house can have a maximum of 6 occupants, no exceptions. 

*there are property types that don't have to follow Fair Housing rules. It's worth it to know whether yours do or not.

You can either partner with someone else and split them up after closing, or you can just negotiate for the ones you're interested in. If the seller is just wanting to unload all 3 and you're getting a bulk discount, you can always wholesale whatever you don't want to another investor.

 Anywhere in metro Nashville, a 100k property is going to be either (1) in a VERY transitional area, or (2) need a crap ton of work. 

You might consider looking into the outlying areas, but it's gonna take a lot of homework to figure out the demographics and key metrics. There are a lot of them.

You're looking for a unicorn, I'm afraid. That's not a realistic request for MLS properties in Nashville.

 I haven't looked hard at any other market, so all I can offer is an uneducated guess, which I'd rather not. 

My sense is that the mid-sized rust belt cities offer a lot of opportunities, but you need good people on the ground.

Man, what a smoking deal! And I like Muncie.