All Forum Posts by: Cody Holbrook

Everyone's hot for Chico, huh?  Must be the place to be!  Haha.

@Wayne Brooks  Yes.  Cash offer from my own bank account.  

But I also need to know how to do it with other people's money, too.

I'm new to real estate, and this might be the dumbest question ever, but you've got to start somewhere, right?  I searched online, but searches don't deliver the answer because I don't know how to ask succinctly.  I want to be prepared soon in case a deal comes up that I need to jump on.  I'm so new and getting setup, I haven't spent any time learning this from my broker or a mentor.  I don't have a mentor :( . 

If I find a motivated seller through a marketing campaign, and I want to buy their house with a cash offer, as a REALTOR, what contracts do I need to sign with them? I know I have to have them sign a disclosure that I'm a licensed real estate agent, the purchase & sale agreement, what else?  Do I have to do it through my brokerage and split the commission?  

Is there a book or a page on this site that describes the step-by-step process?  

I also want to learn how to wholesale as a licensed agent, which I know has more requirements and restrictions.  My broker mentioned not being allowed to do double closings.  I'm licensed and working in Tennessee.  

I appreciate any info, links to info, or recommended resources.

Thanks.

@Devan Mcclish  I think you're right.  I think I need to find better deals.  

I just recently got my real estate license, and I was looking at the MLS listings for multi-family homes. I found a duplex that came on the market today in a very convenient suburb of Nashville. The asking price is $119,900. I would like to make a cash offer for a little less. I can't go too low because it will sell easily to someone else with a higher offer. I'd be willing to bet this house will not stay on the market for more than a few days. I called the listing agent and he said he has a showing already scheduled for this evening. The current rent is at $950 total for both sides. I could get a little more easily. It's in a super convenient location, walking distance to Walgreens and a nice grocery, a decent neighborhood, like a C+/B- neighborhood, and good schools. Plugging it into the Rental Property Calculator with a purchase price of $112k shows a cash on cash ROI of 6%+. Should I make an offer?

Hey @Sawyer Pace.  I'm a Nashville native and agent on the north side of Nashville in Hendersonville and Gallatin.  I think of myself as an investor because that's my end goal, but I've become an agent for the benefits it provides to being an investor.  If you need help on the north side of Nashville, I would love to help.

Hi @Phillip Driesler.  Welcome to BP.  You will love Kentucky or the Nashville/Middle Tennessee area.  I recommend Tennessee, of course I'm biased.  If you read into the best places for retirement, Tennessee ranks very high because of the quality of life, the cost of living, and minimal taxes on retirement income.  Tennessee is also phasing out the tax on the interest earned on stocks and bonds by the year 2022 (the "Hall income tax"), effectively eliminating the personal state income tax in Tennessee.  I'm no tax expert, so I recommend reading into this yourself.  
Of course, being near Nashville is great for people who love a city with a unique identity, innovation and entrepreneurship, culture, music, food, art, nature, etc, etc.
It's more challenging to find good deals in the city now, as it has been a really hot market, but there are still deals to be found a little farther out.

Congrats on taking bold steps to improve your life!

Let me know if I can help.  

They are usually on the second Monday of the month.  Then next one is October 10th at 5:30pm.  It's located in the FiftyForward building next to the Nashville Fairgrounds and Speedway, address is 174 Rains Ave, 37203. More info at reintn.org.

@Hozan Barwari

@Leo K.  When you say the macro level economy, are you talking about the national/global economy?

@Rhea Jackson  I currently live in Sumner county, which also has good schools, a hair below Williamson county in rankings.  I have a preference for Williamson County though.  It's where I was born and raised.  If you're accustomed to the Encinitas vibe, you're probably going to want to be in Williamson County or the one of the more trendy areas of Nashville.  The only drawback about most of Williamson County is that it's overflowing with people and traffic.  I hope you find a great home. Welcome to one of the best places to live in the USA.