All Forum Posts by: Matthijs Pol

Thanks everyone!! Much appreciated, I am actively looking for a CPA now. 

Thank you

This is my first time filing taxes and having investment properties both purchased late last year. Normally my wife does our taxes through Turbo Tax and that’s what we are planning on doing this time as well. 

But what do you guys think? And does anyone have a good recommendation for an CPA in the Nashville area? Thanks! 

Investment Info:

Condo buy & hold investment.

Purchase price: $91,000
Cash invested: $3,000

Nice condo use it as a MTR

What made you interested in investing in this type of deal?

Cashflow

How did you find this deal and how did you negotiate it?

Redfin

How did you finance this deal?

HELOC

How did you add value to the deal?

Nice paint job

Lessons learned? Challenges?

By more condos in great locations

Hey @Zeona McIntyre be Thank you so much for the advise! I would love to connect with him! 

Also I love you’re book! Haha

Thanks everyone for the input! The third bedroom isn’t very big so I am thinking of advertising it as a 2/1 with a home office. I think I will have better luck that way. Any thoughts on that? 

Hey everyone first of all thanks for always responding to my questions! Very helpful.

I have a Long-Term 3 bedroom 1 bath rental in Northaven just north of Memphis. It's a nice little neighborhood and the house is clean and has a decent size fenced backyard. At the moment I am in the middle of evicting my long-term renter because she hasn't paid in two months. I bought the house with the renter in it and that was my first mistake. The management company I use says the rent is way too high for the area, but after all expenses and savings, I was making $250 a month in profit. 

I have a condo in Memphis that I have as a Medium-Term rental and it does very well. So I wanted to make my 3/1 single family into a Medium-Term rental. It's about 16 minutes from the medical district in Memphis but I know Health professionals probably don't want to share a bathroom. I plan to focus more on insurance companies instead of Health Professionals. But anyone that wants to stay is fine with me haha. 

What are your thoughts on this? I don't want to fully furnish it and then not get it rented out. 

Thanks!

Looking at purchasing my third MTR rental in the next six months. I have two in Memphis which are doing well. I don’t want to over saturated my market there. I am looking at Nashville but the costs are so high here but the return is good too.

Does anyone have any suggestions for a different market to look at? Thanks! 

Thank you!!! 

Well I found out the hard way why Landlords sell a house with renters in it. I purchased a 3/1 bedroom in Memphis last year. The cashflow was great everything made sense. I did my due diligence everything looked great. My renter paid her first month rent on time, then the second month the renter was late. When my management company reached out the renter said that she got a new job and could not pay unit the 23d of December. I am trying to be a good landlord and give her some grace and said it was ok to pay on the 23d. You guessed it, she hasn't paid since. I am trying to evict her but the court is very backed up. Not sure what else I can do, I just hope she will be kicked out soon. I have learned my lesson and will not allowed any other renter to be late anymore. I will not deter me from buying more rentals but it sure sucks for it being my first rental. I learned my lesson.