All Forum Posts by: Allan Smith

I've done lots of bank construction loans in TN. Almost all of them with local banks. F&m bank. First community bank. Farmers Bank. Franklin synergy, now absorbed by first bank. Wilson bank and trust.

Easy vote for me, start now under broker.

just a heads up, property mgmt is known for not being a very profitable business. Unless you stick to managing high end units and use that for realtor leads. But by itself it's just not that lucrative. 

You mentioned renting it for 1%, what you don't mention is what the actual Market rent rates are. The 1% rule does not matter, what matters is what comps are and what it will rent for in this market. It's sort of feels like you're running the numbers backwards and out of order. I suspect the same might be for the value of the home, you need to make sure your pricing it even with other houses like it that have sold recently.

Most of the brands use the same components from same manufacturers. I wouldn't get a no name low tier brand, but even Goodman or Rheem is pretty decent. Trane will last 25+ years and is probably the best value.

If you don't have a warranty deed with title insurance you'll have to play ball with these guys. They could be right. Get an attorney to look at it. Use the attorney at the title office you like best.

No, you need about 50 wholesalers.  1 ain't gonna do it.

F&m bank. Wilson bank and trust. Farmers Bank. Pinnacle finance partners. Firstcommunitybanker.com. Franklin synergy, purchased by first bank.

most of the community banks.

This will vary wildly by market. In Nashville a virtual assistant cold calling team is the most affordable, and you will spend at least $2,500 per deal.

That is generally the case as Chris said, but I think it is most common for them to run the numbers as if you have the line of credit fully drawn to the max. It's unfortunate

The agents I know  that started recently and were able to keep their heads above water did hours per day of cold prospecting. Calls, mostly. If you want it, you can get it. Gotta hustle. Easier ways to make money than being an agent with no network in a new town in my opinion.