All Forum Posts by: Charlie Shew

Jarron,

I located in Lebanon, TN. I am sitting right about where you are at and want to do the very same thing. I need to proceed cautiously because my wife is not that excited about owning rental property. My plan is to buy a new home and rent my old one.

Your right about our market, it keeps getting hotter. I do a market report each week for Nashville Metropolitan, Wilson and Sumner County. While in the fall/winter months a lot of realtors were talking about a "shifting market" and as a realtor, we need to be prepared for a downturn. The funny thing is that was completely opposite to what each of my reports was indicating. I am not a doom and gloom person and I plan to proceed with my plan to purchase our next home and rent our current home.

Are you planning on doing the BRRRR strategy with a duplex? Are you on a drip campaign, this is where you will get an automatic notification if a home that meets your criteria is listed on the MLS.

Here is the list of all multi-family homes in and around Middle Tennessee. If anyone does want to get on my auto notification just message me and let me know what you are looking for.

Charlie Shew

Multi-Family Homes for Sale in Middle TN

Here is a snapshot for Opendoor in the Nashville Metropolitan area (This includes the 14 surrounding counties). It is based on the last 6 months, they have closed 289 homes. One interesting figure, the median days on market for an Opendoor home were 65 days. For the rest of the market at similarly priced homes the days on market was 12.

They are here in Nashville and I have viewed a lot of the homes. I wrote a little blog post about them on my website if anyone is interested:

 Opendoor

A quick summary, if the market value of your home is $220,000 they are going to offer you $200,000. However, their fees on average at the time were approximately 13% so you would walk away with $174,000 from opendoor. If you had sold with a realtor for $220,000 at 6% commission you would receive $207,000. 

Bottom line, the homeowner would lose a total of $33,000.

Charlie 

I’m very interested in attending. I work nights so that will be my issue on attending.

Charlie 

Lebanon, TN

I am 56 years old (tomorrow) and I am a college student, I work a night job 40 hours a week and spend a minimum of 20 hours a week in real estate. I do my college online and it pretty much takes up my whole weekend. I always tell young kids if you are not going to run your own business, go to college. However, if your idea of a business is a vape shop, sandwich shop, barber shop, etc, go to college.

I do agree that degrees are not what they use to be, however, 20 years ago you did not need a degree to become a supervisor, now many companies do want you to have a degree. 

I vote to stay in college and if you are really a hustler you should be able to be debt free when you graduate. 

Charlie

I have made cold calls for real estate and I do not worry about the do not call list. First, just trying to file a complaint is a nightmare. Next, the FTC is so overwhelmed with complaints they only focus on the very large companies getting multiple complaints.  I have cold called and talked to over 1,000 people, the ones that get mad just hang up. (This is not legal advice)

Charlie

I should add, a great book about selling (in general) I enjoyed was Fanatical Prospecting by Jeb Blount. He talks about cold calling and other methods.

Charlie 

Geordy, 

I feel your pain! As a realtor I have tried the cold calling route. I have called homes to let them know about a nearby home that has sold, or one listed or for an open house. My goal is just to get an email address from them. When I dial 100 numbers I normally get about 30 answering machines, 10 people pick up (2 will hang up) 7 not interested and maybe on a good day I'll get an email. 

What you could do is call them and ask for their help. Tell them you are looking for something similar to what they have and do they know of anyone that might be interested in selling. If the owner is interested let him tell you. I would also ask if he would be interested in hearing about any deals you come across, and if you have a conversation invite yourself over to walk his property, he might just give you some pointers. 

Charlie

Hello Qiangyu Zeng,

I'm a realtor with Keller Williams I live in Wilson County, the fastest growing county in Tennessee. I am planning on doing some BRRRR in the future. If I can ever help you out let me know.

Charlie Shew

Hello, Josh and Everyone Else,

I live in Nashville and was told Chattanooga is a great investing town. I have made no investments yet but I have seen some interesting opportunities on Zillow. Josh, I am a realtor and recently sold a home to a client using a VA loan, they were pretty strict about some guidelines. it had to be a home he was going to live in, they had to have an inspection but only after the home was 95% complete. You should meet with a loan officer to see what your options are.

Charlie