All Forum Posts by: Bobby Walters

Thanks @Andrew Postell.   That would be great.   

Hello Everyone - I'm looking to implement the Refinance part of the BRRR strategy and am seeking advice on lenders you'd had a good experience with. Maximizing the LTV is of particular interest, so I'd be keen to know what you've found with those who you have dealt with. I'm in the Nashville area, and while a local lender is preferred, I'm totally open to doing business with those who have the best terms. Thanks for sharing your experiences and I look forward to hearing what everyone has to say!

Congrats @Michael Rogers!    Nice to hear and wish you much continued success!

Hi Robert.  I use Nathan Powers at Chapman & Rosenthal and have been very happy with him and his firm.  Here's his info.

Nathan L. Powers

Attorney at Law

Chapman & Rosenthal Title, Inc.

1620 Westgate Circle, Suite 150

Brentwood, Tennessee 37027

Tel 615.921.9250

Agree with Devan.  Things seem to have peaked.  I do rentals...2 years ago they were red hot, but not I'm seeing much more competition along with more vacancy.

Thanks for the info. I didn't think to do any type of holding deposit form/agreement, and my application doesn't state anything about the deposit. I have that addressed in a separate document which in the past, I've included at lease signing.

Thanks Tevis, it is certainly a lesson, too be determined how expensive of one! :)

A question for you veteran landlords....

I have a very nice condo that is highly sought after by prospective tenants. I had someone who wanted the unit, and called me stating that he wanted to lease it, and would bring me a check to "hold the unit for him". He gave me a $1000 check to hold it --- this is the amount of the security deposit. He also completed an application and background screening, which was accepted by me and such was communicated to him via email.

However, prior to signing the lease agreement, he backs out on the deal. Because I held the unit for him, I have time lost and potential rent lost on account of his reversal.

Do I have any recourse to keep all or a portion of the security deposit as consideration for the time and lost rent due to him backing out?

Hello - I own three rentals within 10 minutes of my home, which is one of the best business areas in Nashville. The area has two major office parks within 10 minutes and its one of the top 2 fastest growing areas in the state. The area is home to many major companies, and has a healthy pipeline of economic development.

I'm curious if anyone on here has done furnished rentals targeted at higher end clientele? The goal would be to catch 3-6 month leases of executives or people moving for jobs. If so, I'd love to hear more about what your experiences have been. I know to expect more vacancy, more management, etc, but has anyone done this and did you get a premium price that justified the additional time and management?

Thanks for your input.

Thanks J, I appreciate the feedback. That's exactly what I've seen as well and why I've been rethinking my strategy.

I'm a buy and hold investor and currently have 3 upscale condo/town home rentals in very nice areas, near major office parks and good jobs. All 3 stay rented with little to no vacancy and return between 9-12% per year on cash after expenses.

However the price point to enter this market is high and I see properties where I can earn in the 18-20% range by stepping down to an average quality rental in a "B" neighborhood. These are still decent neighborhoods, but have more foreclosures, lower home quality, just not as nice and will bring a tenant at a different income level.

I do my own PM, and have a full time job which is demanding so I need to minimize the amount of time it takes me to manage them. Does anyone out there have properties in areas that would compare to these? Or has anyone transitioned from one to the other? I'm curious to hear what your experiences have been, the pros and cons, etc, as I'm considering rethinking my investment criteria.