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All Forum Posts by: Craig J.

Craig J. has started 9 posts and replied 56 times.

Post: Great Idea for Landlords

Craig J.Posted
  • Investor
  • Gallatin, TN
  • Posts 59
  • Votes 62

Maybe you should start. May be able to see damage early. 

Post: Do I keep this deal alive or not?

Craig J.Posted
  • Investor
  • Gallatin, TN
  • Posts 59
  • Votes 62
Originally posted by @Alexander Jenkins:

@Brad Sand

Thanks, the only number (which also may be the most important) that I’m not very certain on is the occupancy rate. I actually think it will do better than 65% but I felt like that was conservative enough. I just couldn’t find accurate info and the sites I checked had info for a whole area not a the hyper local resort area I’m buying in. And it was for all size and types of places. Just not very specific. I tried reaching out to a few vacation rental owners without much luck. Maybe if I contact some of the property managers in the area I could get more accurate occupancy numbers.

I think pitching it as a 33% return (or whatever all the exact numbers I have come up with) would be a great way to present to someone willing to put up the money.

I really appreciate all your ideas!

 Just keep in mind that while 65% may sound low on occupancy, that equates with renting this place almost 5 of 7 days a week all year.

Post: Great Idea for Landlords

Craig J.Posted
  • Investor
  • Gallatin, TN
  • Posts 59
  • Votes 62
Originally posted by @Arlan Potter:

I don't know why he would give two weeks notice. We schedule a monthly walk thru,check HVAC filters, and spray for bugs in our multi family units. And no gifts needed. 

I believe he gives such notice as a simple courtesy to his renters. It should be noted that his courtesy may have paid off as he had 100% payments thru this pandemic! 

Post: Great Idea for Landlords

Craig J.Posted
  • Investor
  • Gallatin, TN
  • Posts 59
  • Votes 62
Originally posted by @Sharlene Mulchandani:

@Arlan Potter This is a great idea, I haven't heard of many landlords or property managers doing this. Do you include this in your tenant's lease agreement?

 He does and I plan to do also.

Post: Great Idea for Landlords

Craig J.Posted
  • Investor
  • Gallatin, TN
  • Posts 59
  • Votes 62

I stole this one from my neighbor who has 7 sfhs as rentals. He includes in his leases a clause that says with 2 weeks notice he can enter property to assess for condition and damage. If all is well in unit, he leaves a nice note a bottle of wine or Champaign. Using this method he is able to assess for any repairs that may be needed and reduces surprises at lease end.

Post: Middle Tennessee REI

Craig J.Posted
  • Investor
  • Gallatin, TN
  • Posts 59
  • Votes 62

@Destiny Bullington

I am relatively new to RE investing but bought my first flip in April and plan to bring it to market in next 2 weeks. I am in Gallatin and would live to find mid state rentals, especially MFR

Post: Supply Chain Disruptions?

Craig J.Posted
  • Investor
  • Gallatin, TN
  • Posts 59
  • Votes 62
Originally posted by @Margaret Hill:

@Craig J. Thanks for your reply, though it confirms my apprehension. Now I’m wondering if it would be better to invest in a turnkey rental property instead so I would not need to wait on material for rehabbing...

 Margaret things are opening up now and the lesson that I learned about cabinets is my contractor turned me on to 2 cabinet makers that he says are better than Kraftmade, cheaper and can turn a project around in less than a month. So just learn from my mistake in assuming that Lowes could help to expedite my project. There are always other choices you just need to find them.  

Post: Supply Chain Disruptions?

Craig J.Posted
  • Investor
  • Gallatin, TN
  • Posts 59
  • Votes 62

The biggest delay I have had on my current flip is cabinetry. In mid April I ordered new cabinets for kitchen, laundry room, and both baths.....they just arrived 7/6/20. These were ordered via Lowes from Kraftmade. Shaker style with no custom features.

Post: Finding Active Foreclosures

Craig J.Posted
  • Investor
  • Gallatin, TN
  • Posts 59
  • Votes 62

Robert also try Auction.com app......after DLing click on foreclosures in lower margin of home page and then type in county that you are interested in.

Post: Is the real estate bubble burst soon?

Craig J.Posted
  • Investor
  • Gallatin, TN
  • Posts 59
  • Votes 62

I am expecting a rise in foreclosures as forbearing expires. There is about 4-5 months of foreclosures that have been kicked down the road like a tin can. The crap will soon hit the fan. DL an app like Auction.com and click on foreclosures in lower margin of app and then type in county that you are interested in.