All Forum Posts by: April Childers

@Melvin List do you do business in Tennessee? 

@Melvin List do you do business in Tennessee? 

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Hi All,

I have been looking for my first deal and I think this might be it but I continue to waiver so I am really looking for opinions of more experienced investors. One of the big advantages I think about this deal is that the bank will do 85% at 6% for 20 years (locked in for 5 years) and the owner will pickup the other 15% for 6 years at 5.5%. All 5 units are currently rented under market value for a total of $3350 a month. As you can see the current owner pays the water bill and it averages about $400 a month. I think with some cleaning up around the building and updating the units as people move out I can get around $800 a unit but money will be tight until I get the owner financing paid off. I look forward to hearing your opinions on this deal, hopefully I have given enough details.

Thanks,

April

@JScott Thanks for the feedback, you have definitely given me at least items to focus on.

I recently purchased a two acre piece of land with the initial plan being to separate it and build a SFH on each acre. However, after finally getting a survey I found out the property was actually 1.9 acres and zoned as agricultural and as such must be at least 2 full acres to separate. Since I have to get it re-zoned anyway I am wondering if I should try to do duplexes instead of SFH. I do not know what is involved in such an endeavor, this is my first such project and I am wondering if I should keep it simple and stick with the SFH. I appreciate any experience anyone has.

April Childers 

@Collin Schwartz I understand using the HELOC for the down payment but I am wondering how do you pay off the HELOC? Thanks for all the great information.

April Childers 

@Lynette E. Thank you so much for your feedback, the more I have researched that area the less I am interested in investing in it. I understand what you mean by the area not being controlled by locals. It also concerns me that the majority of your STR market is golfers, I am looking for something that has the potential for year round rental potential. Thanks again for your feedback.

April Childers 

@Devan Mcclish I would be very interested in learning more about the Dickson market. We are seeing higher prices on available housing and tons of construction. I would really like to find some small multi family unit properties. 

I am wondering if anyone invests in the Fairfield Glades TN market? This area is primarily a retirement community but it is also a huge golf community. There are many available condos for reasonable prices that rent to golfers but I am not very familiar with this market. I would appreciate any thoughts or contacts in the area that could be helpful.

Hi, I would like to introduce myself, my name is April Childers and I am just getting started in real estate investing, kinda. I say this because I did own a property in Louisiana for 23 years while I served in the U.S. Navy. Overall it was a good experience but I decided to sell it after retiring because the property management company had really declined. My husband and I recently purchased a two acre piece of property with a trailer on it. Our youngest daughter and her husband are moving down from Kansas City and they will be living in the trailer and we are going to build a SFH on the other acre. Once that is complete and sold we will build another SFH on the other acre. We would really like to get into flipping and purchase some rentals to generate a steady monthly income. We live about an hour west of Nashville and would really like to get started around the Dickson county area. Sorry this intro is so long but from everything I have ready on this sight I need to start networking, so here goes, nice to meet you all.