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All Forum Posts by: John Montgomery

John Montgomery has started 5 posts and replied 50 times.

Post: New Member From Clarksville, TN

John MontgomeryPosted
  • Realtor
  • Clarksville, TN
  • Posts 51
  • Votes 20

Welcome to BP Kevin. I live & invest in Clarksville as well. There's an REI meet-up on the third Thur of each month. Take care. John

Post: Soon-to-be investor in Clarksville TN

John MontgomeryPosted
  • Realtor
  • Clarksville, TN
  • Posts 51
  • Votes 20

Hey Nick.  I live and invest in Clarksville and like you, used BP to educate myself on real estate investing.  I focus on single family and small multi-family rentals, so feel free to contact me if you have any questions.  Take care and best of luck.  John 

Post: Newbie investor in Alabama and Tennessee

John MontgomeryPosted
  • Realtor
  • Clarksville, TN
  • Posts 51
  • Votes 20

I concur with Tas on the LLC. I recommend finding a Real Estate attorney you trust for some professional advice. Like Kenyon, I also live and invest in Clarksville, TN. Tiffani makes a great point about getting eyes-on-the-ground before investing in a new area - it's key to the due diligence process. You'll undoubtedly find BP members who won't charge for sound, local advice. Best of luck!

Post: Clarksville, Tn

John MontgomeryPosted
  • Realtor
  • Clarksville, TN
  • Posts 51
  • Votes 20

true about Hankook - I live off the same exit.  There's a great deal of development going on within a mile or so of the plant - both SF & MF residential as well as commercial closer to the hospital & exit 4.

Post: New member from Clarksville, TN

John MontgomeryPosted
  • Realtor
  • Clarksville, TN
  • Posts 51
  • Votes 20

welcome to BP.  I invest in Clarksville as well.

Post: Clarksville, Tn

John MontgomeryPosted
  • Realtor
  • Clarksville, TN
  • Posts 51
  • Votes 20

I've noticed many MFs near APSU fall into two general categories: fairly new construction and older SFs that have been converted.  Again, the exact area is critical, especially right around campus.  Several MF projects have recently been built with rents ranging from $800-$1200.  The downtown area of Clarksville is seeing some new development.  

Post: Clarksville, Tn

John MontgomeryPosted
  • Realtor
  • Clarksville, TN
  • Posts 51
  • Votes 20

Hey Daniel, I invest in Clarksville and agree that the renters are there.  One problem I've noticed is that many of the MFs that come up for sale are in very poor condition.  Additionally, like in many towns, one or two blocks can mean the difference between 'B' and 'D' tenants.  I think Clarksville can be a complicated area for new investors.  That said, there are deals to be found and money to be made.  Best of luck.  Let me know if I can help.  

Post: I am a new member, want to learn everything I can!

John MontgomeryPosted
  • Realtor
  • Clarksville, TN
  • Posts 51
  • Votes 20

Jeff,

I live and invest in Clarksville.  

Contact me anytime.

Look forward to hearing from you.

John

Post: Reduce Holding Costs

John MontgomeryPosted
  • Realtor
  • Clarksville, TN
  • Posts 51
  • Votes 20

I recently had a tenant move out of a SF rental without notice.  I wanted to share some ideas and lessons-learned that may help fellow investors.  The order in which you follow these steps isn't necessarily as important as taking each into account.  

I first informed my realtor so she could begin advertising the property.  I contacted the water, gas, and electric companies to ensure services were placed back in my name.  I then visited the property to assess its condition.  I realized it needed some paint, minor repairs, and cleaning.  There were also numerous box-springs, mattresses, etc in the house.  I left a lock box on the door to accommodate all the individuals who would need access in the coming week(s).  With the list of repairs in mind I began calling my team to check schedules and availability.  I realized that there was a logical sequence to follow (i.e. paint before cleaning carpet), so I scheduled people accordingly.  Once I had the work sequence set I contacted my realtor again so she knew when to begin showing the property.  I also thought through any renovations I may have been considering.  I checked smoke detectors, replaced air filters, serviced the HVAC unit, & checked the plumbing, electrical outlets, appliances, and crawlspace.  At the same time, I reviewed my lease and decided whether or not to increase the rent.  I updated my analog and digital files on the property and prepared necessary correspondence for new tenants.  By adhering to a plan I was able to quickly get the property back on the market.  Since this particular property had a holding cost of $25 a day, it's easy to see why a quick turn was so critical.  Hope this helps.

Post: New to Clarksville, Tennessee

John MontgomeryPosted
  • Realtor
  • Clarksville, TN
  • Posts 51
  • Votes 20

hey Zach,

I'm an investor in Clarksville & would be glad to meet with you when you get here.  Feel free to send me any questions in the meantime.  Take care.

John