All Forum Posts by: Pauline Charlton

Hello BP community! This is Pauline Charlton from Nashville TN here.

I joined BP a couple months ago but I only just this week had a chance to explore the site. I have actually posted before I introduced myself please forgive my transgression.

Call me a newbie to the Bigger Pockets Community. I have invested in real estate over the years and I am a Realtor in the Nashville area.

I have not made any investments for a while so I would like to add some multifamily rentals, do a 1031 exchange, and I would like to do a flip.

One of my  challenges is finding good, professional, reliable tradesmen. I am looking to the BP community for help with that. What criteria can I use to be reasonably sure that I have a reliable team.?

This weekend I did some analyses of some properties but I decided that they were unsuitable. I realize that need the help of a wholesaler to give me access to workable prospects.

I am looking forward to being a part of the community and I will be glad to help others.

Im am interested too

@Justin Windham

Thanks for your kindness. Looking forward your information.

I had a contact there. I will check and give you a referral.

@Dmitriy Fomichenko Why is the difference between the solo 401k and a SEP IRA?

The tenant used to be required to pay  a stated amount with sec 8 subsidizing the rest up to market.

Most people believe that the good thing about Section 8 is your money is guaranteed. Even if the income is coming in it does not mean that your property is being managed properly.

My experience has been that you need to have a good property manager who is telling you the truth about the clients and the condition of the property as the sec 8 tenants occupy.  I had a property manager who was managing a townhouse in a neighborhood that was in the suburbs in another state 12 hours drive from me. I got a property manager who suggested sec 8 and since I knew nothing about sec 8 at the time I said yes. It turns out that the tenant who signed up brought a boyfriend in who wreaked havoc on the property and on the neighbors unbeknownst to me. 

When there was a fire the agent called me to let me know. Then the  neighbors told me that the agent would not give them my address so I never knew what was happening. I ended up paying a lot of money to clean up and as it was long distance I decided to sell - this was my first experience into the rental world as a landlord - I regret now having sold. But I learned that not all properties a good for section 8 tenants.

I later learned that Sec 8 would have covered the damages but the agent had disappeared and I had no access to the contracts.

Be sure you know all the Sec 8 rules and be sure you can  keep tabs on the tenants or that you can rely on a reputable property manager.

What criteria should I use for building a team of vendors for flipping and handyman jobs? Whats the best way to find reliable experienced people?

Have not seen the 1% rule apply here in Nashville for quite some time.