All Forum Posts by: Ryan Rutoskey

 Thanks for the response. Other than keeping up through local news or word of mouth is there a way or place to keep up with new developments in Nashville as they are occurring or being announced? 

I was reading about the Tanger Outlets ground breaking in Antioch, Tennessee outside of Nashville. I was wondering if there were any other large developments or developments in general that people are aware of going on around Nashville that will continue to bring in new growth and new jobs to the Area. 

I know that it's common for investors to be active in multiple markets. I was looking for some input to understand the role of local agents in regards to their out of state investor. For example do out of state investors find their own people to do any needed work on the property or do they rely on the referrals from their agent to help them find contractors and management companies for them? Where does that agent investor relationship extend to. 

Based on consumer sentiment and the reactions from investors you can gauge areas that are still experiencing high levels of buyer interest and the same goes for areas that are "cooling". I am insulated by my own investors sentiments and opinions. I was hoping for some feed back from others who may have opinions on what is occurring in Middle Tennessee and what your predictions are for the next several months. 

I was talking with a colleague and discussing "creative" ways that they networked or met and investor. This had me thinking and I was wondering if anyone else had interesting ways that they met with an investor or made a work connection. 

 I went through this several years ago and it can be hard. Getting a small loan that you pay off over the course of the year can help. If you have issues with late payments you can always write a Goodwill letter asking them to remove late payments. They may remove one if it was not a regular occurrence. Make all of your payments on time and try to increase your line of credit over time as your score improves. You can do it yourself but it is a very slow process. Always keep your % of used credit under 30% so don't max out your card in the course of a month. Good luck. 

 I think a big part of it is going to be do you have enough time in a day. Personally, I had enough savings to go all in and spend everyday like it was my job and it still it took a lot of time learning, researching, and building my network of people. If you work at night and are able to dedicate your day to networking I think that will be easier. You're going to be competing against people who do this full time not just 9 - 5 but live this. I won't be easy but if you can structure your life and are prepared then go for it. 

I know that interest rates are going up for homes. It's all over the news and other media outlets. However, I was wondering who this affects more. I know that investors have cash, private money and flippers can use hard money to enter and exit a property as they need too. So do these increases in rates really hurt retail buyers and long term holds?

I am just looking for some insight to better understand the implications on the housing market that these rate changes will bring. 

if its a higher end rental you can probably count on the users being more friendly with the appliances and you may want to equip with them with a more expensive washer and dryer. However! I had a friend work at home depot while he was in school and any of the a newer appliances Ex. Samsung washer and dryer. much more expensive but they are really nice. Although, because of the options for washing and drying they have a lot of computer chips in them and if those go bad then the price for parts and repair put you close to simply getting a new one. More simple washers and dryers are still great these days and they will have a longer life. 

Christopher, I think that this is one of those situations where if you evaluate all sides of this question and it seems like it will work out then I don't see a problem. Here is definitely some of things I would consider. 

1.How much do you want to raise rent?/Does it matter to you if the current tenants leave or do you like them enough that you would prefer the long term stability of them staying? 

2.If you did raise rent and they stayed would that relationship fray because it may become more difficult for them to afford it? Or are you confident in the quality of your space that you can find new renters swiftly. 

I think considering those thoughts. Most importantly as long as you can keep it rented with quality tenants I think you raising the rent should not be an issue especially with inflation and the current cost of living.