All Forum Posts by: John Montgomery

I wanted to share two "Quick Tips" that have really helped my investing.  The first is Google Drive, which I use to manage all of my real estate-related information, files, etc.  This is especially helpful for investors on the go because all of your information is right at your fingertips, regardless of where you are or what device you're using (as long as you can connect to the internet).  The second Quick Tip concerns an app for your mobile device.  

I use CamScanner, available for free at https://www.camscanner.com

This app allows me to photograph documents from my phone & immediately send them to myself, colleagues, tenants, vendors, etc.  

There are numerous options out there for electronic file storage and mobile scanners... I found these two to be particularly user-friendly.  Incorporating  these technologies into my business gained me efficiency and mobility.

I invest in Clarksville.  You're allowed to manage/show your own rentals.  Take care and good luck.

Welcome to BP James - I wish you the best.  I also invest in Clarksville and primarily focus on small multi-families and SFs.  Let me know if I can help. 

Clarksville can be a strong investment market but I recommend doing your homework first, as there are definitely places to avoid.  Some investors fear the high number of military renters, but this can also work in your favor.  You might check out 'My Place Realty & Property Management' or 'Busy Bee Property Management'.

I invest in Clarksville - let me know if I can help

Welcome!  

When I started I made a goal to do one REI related task each day.... which kept me on track and bolstered my confidence.

Just think of it as Relentless Forward Progress.

Best of luck to you.

I agree with Lloyd.  Ft Campbell offers more positives than negatives for investors.  I've talked with a number of Clarksville-area investors and hear their worries about renting to service members... but I believe most of these fears are unfounded.  In many cases, it's easier to collect rent from a service member than a civilian.

John

I purchase discounted gift cards for all my rehabs. I personally like Raise.com because this company generally has more cards in stock & ship (mail or email) very quickly. I like the electronic cards best because I can print them for use in the store (Lowe's, Home Depot, etc) & I receive them within minutes of ordering. I've had the most problems with Cardpool.com, especially when using the "Bulk Purchase" option. I also don't like the fact that Cardpool's customer service is conducted entirely on-line so there's nobody to call and emailed responses often take over eight hours to receive. I have REI friends who use many different companies (including Cardpool) with success.... so take my comments as one man's experience. Best of luck

I agree with Peter T.  It's essential to make phone/text contact w/ would-be tenants just prior to a showing.  

As stated elsewhere, I would approach showings & open houses with care.... if possible bring someone with you; at a minimum tell someone where you're going & how long you'll be gone. 

As Michael N. said, you may also want to hire this process out to someone you trust.

Good luck!

Michael,

I sought out the advice of a local attorney who specializes in REI. The time spent with him was extremely valuable. Instead of forming an LLC I purchased an umbrella policy and am operating as a DBA. There is great disparity with guidelines based on investment location and the associated laws & regulations. My best advice is to seek professional legal counsel as early as possible and go from there. Best of luck!

Autumn,

I'm a Clarksville area investor as well.  Family partnerships can work, but I'd recommend talking through all the details and getting everything in writing.  Clarksville has some areas  I avoid, but it comes down to what you're comfortable with.  Best of luck to you.

John