All Forum Posts by: April Childers

Hi, I am a new investor and Realtor, I received a call from some neighborhood prospecting I mailed out. The son manages several investment properties for his mother and he said she would be interested in selling "for the right price". I have looked up the tax records so I know she paid $773k for all of them and have only owned them for about a year. The total rent collected is $11k. I definitely see potential for a deal but I would appreciate any pointers in how to structure it and how to determine a price. I would like to offer a couple of options, one of which would include seller financing. All advice is appreciated. 

R, April 

@Paul Sandhu

Thanks Paul for the feedback, I am leaning toward a LTR.

@Ken Latchers

How is the property doing for it, are you using it as a STR or LT?

@Ken Latchers

That is what concerns me Ken, I might just go ahead and use it as a long term rental instead.

@John Underwood

Thanks John I have checked both and there aren't many properties out here but both sights say I could make around $2400 a month when I put in my property address. I'm not sure what they base that on.

@Paul Sandhu

We are actually further from Humboldt(1hr 40min) than we are from Nashville. There are a few businesses in Dickson but it is growing because people can't afford to live in Nashville are coming further out.

Hi Everyone, I have a 3bd, 2bt house in Dickson, TN about 40 miles west of downtown Nashville. I am wondering if anyone has any opinions about how well this location would be for a STR. There isn't much competition but I'm not sure if that is because we are too far out of Nashville. All thoughts are appreciated, thanks April.

Investment Info:

Single-family residence other investment.

Purchase price: $65,000
Cash invested: $97,000
Sale price: $243,500

My husband and I bought a two acre lot with the intention of splitting the lot and building a house on each one. While we were in the process of building the first house our daughter and son-in-law moved down from Kansas City and after searching for homes asked very nicely if they could buy the second lot because they could not find anything they really liked. Besides only building one house we considered it to be a great experience and would not hesitate to do it again. We were lucky to find an outstanding contractor who was a joy to work with. We did have some hiccups along the way, I found out that surveyors are very overworked in our area and in some cases not in any hurry. I also found out that no matter what the real estate agent tells you it is still your deal and you are the one that needs to do your due diligence and now I even have a clue of what that means. During the process I decided to get my real estate licenses so I was able to list it myself and four days later I had two offers. Overall, I would not hesitate to do it again but I can't imagine ever doing it with a different contractor.

What made you interested in investing in this type of deal?

I have always wanted to get into real estate and the new home market in our area is amazing. My real estate agent found a nice lot in a fantastic area.

How did you find this deal and how did you negotiate it?

I found it through a real estate agent who had sold property for us before. The property was listed for $75,000, we offered $60k and settled on $65k.

How did you finance this deal?

We paid cash, taking some money out of some investments.

How did you add value to the deal?

We built a house on the lot and used nice finishes.

What was the outcome?

We sold the house in four days.

Lessons learned? Challenges?

Getting the land surveyed was a challenge and after waiting we ended up using the survey on file because the setback had changed and out new survey showed our lots to be .94 of an acre. Also they had to be an acre because the land was zoned agricultural...fun times but it all worked out.

@Bryce Stclair

Great job Bryce, I am in the Dickson area and just finished my first flip. I would really like to find some buy and holds in the Clarksville area and have considered a V/R in the Pigeon Forge area. I also got my real estate license this year but am very interested in the investing side. I don't get to Clarksville much but would love to set up a time to meet up.

Hello BG Friends, 

I have just completed my first SFH investment and luckily received an offer right away. Unfortunately, they are using USDA directly and they require a certified house plan. The builder has used this house plan many times but it has not been certified. Has anyone had this issue before or have any idea how to get this done? Thanks in advance for any help.

R,

April Childers