All Forum Posts by: Chad Nagel

I had used Bob Dummer, He messed up all my policies. He never removed equipment that I had sold in my biz. I was an absolute nightmare trying to sort thru why things were not removed over a year prior. I transferred that AO policy to Jason Bott. Jason has been working with me for many years, had a major claim. Everything went smooth.

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Originally posted by @Blaine Gladden:

@Chad Nagel are you still using traveling mailbox? If so, how is it going? Thanks

Going great. Still using them. Its nice to stay private on your real estate deals

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Make the seller follow the contract by having unit empty, if that's what you want.

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Whats arv on project? Rehab cost?

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Originally posted by @Adelaide Wolcott:

Hello! I will be graduating college this upcoming year and moving to Knoxville in summer of 2021. I've been itching to begin my real estate investing to start learning through experience how to make stable passive income. Just a little bit about my financial situation- I have some college debt around 25k, a payed off car, around 10k saved, and a few investment vehicles started like some real estate crowdfunding (AHP) and MC Laubscher's(The Cash Flow Ninja) whole life insurance policy used for infinite banking. Salary wise I will be graduating with a job from an area that pays a lot higher than average Knoxville salaries and working remotely from home. My boyfriend will also be moving with me and in the same financial situation except no investments yet and a second loan for a car.

I have a plan started of which investments I want to start working on but don't know where to begin! I was thinking of buying a single family home and using BRRR as my strategy. I would think I should buy a home on the cheaper side of what I could afford to be conservative with money and lower my expenses and living below my means starting out. Maybe find a home in the 150-250k range then after living in it a year and renovating, rent it out and refinance to use for a downpayment for a second single family and start down that path. Not sure which areas to look in specifically based on schools or higher rent rates and occupancy rates. Maybe long term invest in some student housing or apartments right in downtown knox? Looking for advice or connections with anyone interested! Id love to take anyone in the area to lunch (my treat) to learn more so I can spend this next year preparing for my move!

Sounds like you have a great plan. I started young too age 20 buying rentals and was able to retire at 35 with just under 50 units, currently age 39. As im not an expert in knox market like these other people. East tn in general has lots to offer investors, Great tax climate, job growth, balanced budget state. I enjoy investing here. Reach out if you need any help on the investing strategy side. Keep up the great work.

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Knoxville, Tennessee

Use registered agent service in state for llc docs. $50 / year. Then set up mailing address for property at county property appraiser/ gis to go to pm. You can add another layer if you wanna be fully removed by using a mail service for your biz.

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Originally posted by @Corbin Jones:

@Account Closed Okay, I see. I thought I could have the debt itself transferred to the LLC and that it would help my DTI. So really, the only way to decrease my DTI is to buy homes through seller financing since that is usually not reported to the credit bureaus?

Or buy properties on a commercial type note as those are not reported to a credit bureau typically.

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Originally posted by @Corbin Jones:

Hello, I have a piece of land in Arkansas on a mortgage and a home in wisconsin that's on a mortgage, both through banks. If I quit claim these out of my personal name into an LLC, will this hurt my credit by closing accounts in my personal name?

Doing a quit claim deed from personal to LLC may trigger a due on sale clause. Your mortgage to bank in still recorded in the your personal name but the asset is held in LLC (deed) You need to do more research on this as to what your overall goal is. Please dont consider this legal advice, I only play a lawyer on BP for fun.

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Sounds like you need legal advice from an actual LAWYER, not a bunch of people on the interwebs trying to interpret your eviction lawyer in your state.

Or man up. Talk to tenant as to you hiring an attorney to force eviction. You can explain if they leave an eviction wont be on their record or DCF called. Do they already have evictions on their record? They may not care. Either way be prepared for retaliation and damage your property. Welcome to landlording!

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Originally posted by @Florent Useini:

I can’t find any decent deals in IL!! So frustrating! Anybody having the same issue??

I have a deal in Illinois, tenants just vacated. PM in place. Tenants were paying $550/ month. Tenants pay utilities.

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All Forum Posts by: Chad Nagel

Chad Nagel has started 4 posts and replied 202 times.

Post: Landlord/Umbrella Insurance referrals in WI?

Post: virtual mailbox, scan and email mail

Post: Eviction Problem Wisconsin

Post: Port Charlotte Flip number 3

Post: Starting out with real estate investing in Knoxville

Post: LLC Out of State, Use my PM's Address?

Post: Deed transfer - will it hurt my credit?

Post: Deed transfer - will it hurt my credit?

Post: Help! Need Eviction Advise - Imminent Danger (Wisconsin)

Post: No good deals in Illinois