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All Forum Posts by: John Williams

John Williams has started 63 posts and replied 388 times.

Post: Investor short term and apartments

John Williams
Property Manager
Posted
  • Property Manager
  • Clarksville, TN
  • Posts 432
  • Votes 201

Great! What is your 3-month goal? What about 1 year? And 5?

Post: Lease Final Walkthrough

John Williams
Property Manager
Posted
  • Property Manager
  • Clarksville, TN
  • Posts 432
  • Votes 201
Quote from @Kar Sun:

My tenant's lease is coming to a close and I am relieved she will be moving soon.

She has been paying on time but has been extremely unpleasant and rude.

While the money does not smell my mental sanity is more important than money in this case.

She sent me a registered letter stating that she feels "unsafe because we have not done the fixes the way she wanted it".

She requests to have her witness for a walkthrough.

In my state a walkthrough is required but I am not about to grant it to her to bring any witnesses as that is not in my contract.

If she feels unsafe she does not have t be present.

I also do not treat a final walkthrough with a tenant as a final sign off.

This walkthrough does not include a detailed inspection of the plumbing and the appliances that will be done after she departs.

This is simply for the visible cosmetic issues and should take less than 1 hr.  

I will treat a witness as a trespasser.

I want to really emphasize that this lady is a major headache and may have mental issues.

It is possible she has been fired from her job as well. 

Also want to add that she had multiple violations such as having a dog with her while her contract states no pets and she was contacting repair facilities and acting as my agent or pretending to be a property owner and interfering with repair process. 

She has been sending complaints to the city and to the HOA board.

Of course these complaints do absolutely nothing because we are within our rights and following a contract.

She was complaining that we did not have the right to fix our own property since we are not licensed.

She thinks she owns the place and we are merely room service.


 This is a great case study on reasons to hire a property manager - it's the headache part...

Post: Liable for tenant’s high hotspot cost due to internet setup delay?

John Williams
Property Manager
Posted
  • Property Manager
  • Clarksville, TN
  • Posts 432
  • Votes 201
Quote from @Kevin James:

My tenant wants a refund of $175 for a lapse of 4 days without internet for the cost she incurred by using her mobile hotspot. The wifi was scheduled to be set up on the day of her move in but because of a strike at AT&T, they weren't able to come until several days later. The contract states that internet is included in her rent.

Am I actually obligated to cover the full amount? I’d like to help her out with a part of it, but the full $175 seems high. Any advice on handling this? 



 The real lesson here is to not include additional amenities built into rent (like Wifi). I know that doesn't help you now, just a reflection...

Post: Having fun in Cookeville TN

John Williams
Property Manager
Posted
  • Property Manager
  • Clarksville, TN
  • Posts 432
  • Votes 201
Quote from @Daniel Snyder:

Just having fun learning about real estate and trying to build a future for my grandchildren.


 Congratulations, that is an awesome goal!

Post: Help! Need advice - screening my first tenant

John Williams
Property Manager
Posted
  • Property Manager
  • Clarksville, TN
  • Posts 432
  • Votes 201
Quote from @Grace Norton:

I am screening my first applications for my first rental property.

I have a young married couple who is looking to get their first apartment together to move out of their parents house. They are in their very early 20s they both are full-time employed, but the husband does not have any credit history at all. I know I can ask for a cosigner, but I’m wondering if I need to pull their credit too? For reference I’m using TurboTenant. 


 Be clear about your requirements before inviting them to apply. You should know beforehand what is acceptable or unacceptable to your. Be sure to do a thorough credit and background check, as well as a residence and employment verification. 

Post: Section 8 property manger in Clarksville TN that you like?

John Williams
Property Manager
Posted
  • Property Manager
  • Clarksville, TN
  • Posts 432
  • Votes 201
Quote from @Lon Sierra:

We have a single family in Clarksville and we want to put the property in Section 8. If you have a great property manager that can handle section 8 please send me the referral. Much appreciated. Thanks!


 We can help for your non-Section 8 properties. 

Try My Place Realty or PMI Clarksville for your Section 8 rentals, tell 'em I sent ya, they'll take care of you!

Cheers!

Post: What Do You Look for When Deciding to Invest in Nashville, TN?

John Williams
Property Manager
Posted
  • Property Manager
  • Clarksville, TN
  • Posts 432
  • Votes 201

A lot of out of state investors reap the upside potential of the Nashville market (and protect themselves from some of the downside) by investing in the high-growth (yet moderately priced) secondary markets near Nashville (i.e. Clarksville, TN). 

Post: Investing in Clarksville, TN?

John Williams
Property Manager
Posted
  • Property Manager
  • Clarksville, TN
  • Posts 432
  • Votes 201

Howdy y'all! Broker and Property Manager here in Clarksville, TN. 

Who is actively investing (or hopes to) invest in this market?

Post: New AC unit

John Williams
Property Manager
Posted
  • Property Manager
  • Clarksville, TN
  • Posts 432
  • Votes 201
Quote from @Mitchell Hein:
Quote from @John Williams:

Go with the cheaper option. You'll sell the building before the unit goes out. 


 I don't plan on selling for 30+ years, buy and hold is the plan. That means 2-3 AC units in the amount of time we will own it.


 Right, but I still think you'll sell much sooner than 30 years 😁

Sometime in between now and 30+ years I think you'll likely find an opportunity to trade up or to deploy your equity elsewhere. 

Post: How to start my business

John Williams
Property Manager
Posted
  • Property Manager
  • Clarksville, TN
  • Posts 432
  • Votes 201
Quote from @Raul Mena:

I want to start investing in real estate, and I am going over all these books to see the type of strategy that I am going to follow. Right now, the one that has been catching my attention the most is the BRRRR method. Today, I own a single-family home where I am currently renting out one room. I am starting my real estate investing journey and have been hitting a wall with the type of entity that I should establish to start my business, such as an LLC.


 Here's how you should allocate your time (and in this order)

1. 99% of time developing your business plan/idea

2. 1% of time thinking about the LLC

Many people get caught up on the purpose/use of an LLC and don't spend enough time thinking about how to make money.