All Forum Posts by: John Williams

I am moving to Clarksville in January. I have only driven through the city 1 time. I am very unfamiliar with the area. However, I know that I want to buy. Where should I buy? Where are the good areas? Why? Where should I absolutely avoid? Why? Thanks!

I am moving out of house next month. I am going to turn it over to a property manager so she can rent it out for me. Do I need some sort of additional insurance to protect on top of my home insurance? If so, what kind do I need? Thanks!

@Bryce Stclair Thank you for the clarification! I guess I just found it odd and hard to accept that there is a minimum loan amount. You would think there would be a maximum limit as opposed to a minimum. Well, I’m learning! Thanks!

@Waylen Herdman Well Ive only been through the city once so I am not to familiar with the area. I liked the tiny town road area. What about you? Are you more familiar with the area?

I’ll be moving to Clarksville, Tennessee next month. I am trying to purchase a home using the VA Loan when I get there. I already used the VA loan once (~$150K) on my current residence which I intend to keep when I PCS. Can I use the VA loan again to purchase a second home, while retaining my first house? I have one lender who is telling me yes. However, in order to access this “second tier” of the entitlement I must take out a loan for a “MINIMUM” of ~$145k. I thought it was odd that there is a minimum rather than a maximum. I don’t think my lender is really familiar with the second tier of the entitlement. Are there any lenders out there who are familiar with this? Is my current lender correct or are they confused? Thanks!

Is it possible to hire a real estate agent to assist with the auction process? Are there agents out there who have this kind of experience? I’m new to investing and my thought process was that I can find relatively inexpensive properties at auction. However I would like an agent there to guide and advise me and assist me with the due diligence process. Thoughts?

I recently talked to a lender about getting a mortgage for a foreclosure. I told him that I wanted to purchase the property, do some moderate rehabbing, and then resell the property. He seemed confused that I wanted to buy only to resell a short time later (flip). Is this because conventional/investment property loans aren’t normally used for flips? I realize that I might have to hold it for up to a year with this type of financing. Is he just not used to dealing with flips? I said I thought the property was a decent deal (asking 96k when comparable houses sell for 130-140k). However, he said something along the lines of “the seller wants to make a profit too, why would it be underpriced?” Because this is my first deal, his confusion has caused me to be a little hesitant. Am I doing something wrong here? I thought bank owned foreclosures were often sold at a discount. Am I misunderstanding something? Thanks everyone! John

Hey everyone! My name is John Williams and I am from Phenix City, Alabama. I am in the military and will be moving to Clarksville, Tennessee in the near future. I am brand new to REI and I am looking to educate myself and learn as much as possible. Eventually I want to purchase and rehab a house in Clarksville.

I look forward to meeting some of you all at local Real Estate Events!

Thanks!