All Forum Posts by: Korey Hodges

@Patricia Steiner Thank you for the information. I noticed the moratorium was still in place after my post. I will give him the notice immediately. Thanks again.

I'm in Tennessee. I have a tenant who has gotten behind in rent. I was willing to work with him due to all that has been going on this year. We worked out a weekly payment plan and he paid the first two weeks but hasn't paid in the last two weeks. He has stopped returning my calls and texts. There has been no communication from him at all during the past two weeks.

I have called, texted and emailed. My latest text said if he didn't call me today I would start the process of having him move out. In Tennessee you have to give 14 days notice so the tenant has a chance to pay what they owe. His lease is up at the end of this month (November). I know evictions can take a long time and I'm not even sure if it would be worth starting the eviction. My concern is that with absolutely no communication from his end I am not 100% certain he will move out at the end of the lease. 

I plan on giving him the 14 day written notice and hope that will at the very least get him to move out a little early. Any thoughts on this?

Thank you, 

Korey

Hey guys,

I'm in Franklin and own a SFH in Columbia that I bought in 2017. Unfortunately, as you already know, the market has gone up dramatically there in the past two years and I'm not sure rent has kept up with it.

If you have any input on what the rent is now I'd greatly appreciate it. I'm constantly looking in the Columbia area and I just can't imagine getting $1,400/mo in rent for what a 3/bed is going for right now - which is around 140,000. Two years ago a 3 bed would have gotten a MAX of around $1200/mo. Has it gone up $200 in that time? I'm skeptical of that.

Obviously you were both right about investing in Columbia. I bought a rental there in 2017 and I wish I would have bought 5 more. The prices now have gone up dramatically in the past two years. Unfortunately for me I wasn't ready to buy again until recently and the numbers just don't seem to work. 3 bedrooms going for around 140,000 when I'm not even sure the rent is there to match it. I just can't see a 3 bed going for 1400/mo. Maybe I'm wrong and I'm just used to Columbia being so cheap.

I just looked at a house yesterday that's listed for 75,000 on the less desirable east side and it needed probably around 30,000-40 in rehab. You could never get $1000/mo where it was located.

Does anyone have an idea what the rent there is like right now? In 2017 a 2/1 SFH was going for about $900/mo. I see 3 beds asking for 1400 on the rental apps but they've been there for a while.

Like I said, maybe I'm way off on this rent thing, but I just can't imagine these new prices are getting the higher rents.

Great. Thanks for the info everyone. I haven't been able to get down there yet to look around, but when I do I will let you all know.

I live in Middle, TN and am looking to invest in the 36606 area. From the research I have done it looks like a good area to invest in, but there is little info about it on BP. Are there any areas that I should also be looking in or staying away from? What is the rent like in the 36606 zip code?

I'm looking for single family buy and hold properties and will be going down there in about a week to take a look. If anyone can recommend a realtor there I'd appreciate it. 

Any info is greatly appreciated.

Thanks so much

Any more updates on the Mobile market? I'm looking to go down there in about a week to take a look around in the 36606 area. Are there any other areas I should be looking in or staying away from? From the research I've done, it seems like a good place to invest in. There's just not much posted about it on BP.

Also, if you are or can recommend a Realtor for the Mobile area, I'd greatly appreciate it. 

I need an electrician in the Columbia, TN area. We just bought our first rental there and I am looking to build a relationship with one. I took a chance on one company and they sent the HVAC guys out to do electrical work and that was pretty much just a waste of time. I'd really like one located in Columbia if at all possible.

If someone could recommend one, that would be fantastic. Thanks so much.

@Allan Smith We just put an offer in on a house today so we will see how it goes. Thanks guys.

@Aaron Lovett I am interested in single family homes for both rentals and rehabs.