All Forum Posts by: David Cook

@Kevin E. Thanks! Yes I did, I'm in the midst of some minor rehab and I expect to start advertising for tenants in the next week or so.  This is my first foray into multi-family and lower income stuff so we will see how it goes.  

@Kevin E. welcome to Jackson, TN.  Sorry to hear you are unhappy with your purchases.  If it's any consolation I wouldn't pursue most of the stuff in Jackson that would meet the 2% rule.  x% rules are good quick rules of thumb but I think sometimes they blind investors.  I see some people in my area buying homes they wouldn't want to own outright simply because the purchase price seems appealing.  Perhaps you are better off than you think.

Welcome Walter, I'm relatively new to the real estate game myself but I think you are in the right place if you are eager to learn. I personally found I got the most out of BP by listening to the podcasts and setting up keyword alerts for topics that interested me.  I don't know much about your chosen niche but I wish you the best of luck!

I'd be cautious in the Muse Park area, although there are good neighborhoods and streets there. UM Lambuth is better in my opinion although it still depends on the street.  I know an investor here who gave away a house on Hatton Street, in contrast there are some beautiful homes on Maple Street although they are probably less than 100 yards apart. If you feel comfortable giving me streets or specific addresses I'd be happy to give my opinion.  I'm frequently in these neighborhoods if you would like me to check anything out or photograph something. 

@Bryan L. I would be interested to look at anything in the Jackson area.  I'm  also happy to share any insights I might have on the area.   Also @Clint Dorris is a solid guy and has done some work for my father in the past.  Apologies for the poor hyperlinks, BP doesn't  always work well on my tablet.         

Thanks for the insight @Bill Gulleyy circumstances are slightly different than when I originally started this thread.  I'll be living in a nearby townhouse community where my father owns some properties.  The quad is on my way to work though so I should be able to keep a close eye on it.  I'm hoping to self manage although I should still comfortably cash flow if I choose to outsource.  

Just got word this morning that my offer on an identical quad on the same street was accepted.  It's in slightly better shape than the one I previously attempted to buy and I got it for $16,500 less than the first seller's lowest offer.  Just wanted to share my small success and thank everyone again for the advice and motivation, I hope I get to repay the favor someday.  

Really good points @Account Closed it seems like I'm more likely to alienate good tenants, or provoke conflict than to catch a problem early on.  Embarrassingly, I didn't think about the discrimination potential there either.  

Thanks @Joshua Springer I appreciate the advice.

I recently had a tenant vacate a townhouse and during a walk through prior to their leaving a noticed court documents from a neighboring county informing my tenant that his charges for "aggravated sexual battery" were being dropped.  Obviously I don't know the circumstances or what happened but had the tenant not decided to leave I would have gladly renewed his lease.  There were no payment issues and the home was always kept in great shape.  Since this happened I have been considering re-screening my tenants between leases.  I was wondering if anyone else did this or if they had other advice on how to monitor tenants post screening.