All Forum Posts by: Jaret Walker

Is a property management license required in TN if you have multiple equity partners and you manage the property in house? I am currently working on setting up some partnerships on rental properties and I need to know if I can manage them my self as one of the owners of the property.

I am looking for a Attorney in the Knoxville TN area that specializes in real estate law. Does anyone have any suggestions?

@Clayton Smith looks great Clayton! I have been doing that for a while now and it works great! New units are definitely easy to keep tenants in as well. Keep it up!

@Demetrius Charles if you are not confident enough in the deal to put 20% its going to be hard to convince a lender to give you money. 10 units is usually going to be a 80%LTV on most lending unless you find private money.

@Diego Briceno Yes all my properties are commercial. I have two properties both with 7 units and I am currently selling two of my duplex’s for a 8 unit property.

@Peairre Banskton I do both and continue to do both and if you are not very informed on building it can really bite you. Building takes a lot more cash but I the long term it’s a huge advantage because you have a brand new build and a lot less maintenance. I couple this with my normal buy and hold value add units to get the better cash flow because on a new development it is not easy to get positive cash flow day one. I would suggest if this would be your first time building tread carefully because it can go south quick. Money aside in my experience I love the development process a lot more than the value add process and that is what keeps me interested. The value add gets me the cash flow I need and the development gives me the long term growth so basically a hybrid model between the two. Check out my profile I have a couple of my properties on there and you call see more of what I’m talking about. I hope this helps!

@Diego Briceno Hey Diego on the properties I am holding on to I add value through raising rent and lower expenses to get my appraised value up. My cash flow is enough on all my deals that I don’t have to refinance to gain cash flow and I work with an amazing portfolio lender so I use the current equity in my portfolio to borrow against for new properties. I know this definitely does not work for everyone but in my situation where I am the sole owner I don’t have to produce a lot of up front cash to pay back investors I can really concentrate on the long term. I dont know how your business is set up is or what your end goals but I hope this helps.

@Elijah Brown way to hustle man I love to hear good success stories from young people who won’t let anything get in the way. Keep it up and good luck!

@Evan DeVisser yes I have done this and will continue to do this as well as buy pre existing units. Inventory in my area is low so I fill in the gaps by building new units. I like having new units and it attracts tenants as well. I am finishing one project up now if you will look at my profile it’s in my investments and I don’t care to answer any questions.

@Leigh Cihanek I have just switched to Buildium and have had good luck so far!