All Forum Posts by: Sally Fairchild

@Sally Fairchild. One more thing, are you landlord material? Personally, I am not, but I am very comfortable dealing with property managers. I’m a sucker for a sob story, I don’t get sob stories from property managers. They treat it like a business and I treat them like a business. Works for me.

@Jack Barry. Here is my 2 cents as an investor in the Clarksville area, I’d ask you this:

1. Are you ok with renting out your home to folks that won’t take care of it like you did? If yes then the next question...

2. Do you need the money from the sale of your home? If yes then sell If no then the next question,,,

3. Will the rent cover your mortgage plus $200 in cash flow. If yes then...

I would hold the property and rent it forever.

Do remember this, if you sell it now you have some tax shelter under capital gain tax, if you rent it out and sell it later you can only protect yourself, tax wise by a 10-34 exchange, unless you move back into the house and live there for 2 years.

I would lean toward the rent and hold only because your house is in a great market and location and should only go up in value and rent. Also I suspect that large homes with extra bedrooms are going to become very attractive to families.

@Robert S.Hope he isn’t buried in the basement!

@Kevin Wilson

Sure

@Kevin Wilson

Hi Kevin

I live in Orange County, CA and invest in Clarksville. I love Clarksville. I am a buy and hold investor. I like the price and quality of homes in the area, and TN is pretty landlord friendly.

I've got a SFR rental with a big unfinished basement. No egress so I can't make it a bedroom. Where do I start for design ideas and what would be a good idea to add value to the house?

Man cave?

Office?

Should I add a bathroom?

Does anyone know the story behind how they came up with the name, Bigger Pockets? Just curious.

@Ronnie Allison

I know this isn’t the question that you asked and you can’t go wrong with all the books that have been listed. One thing that has been invaluable to me was listening to one podcast of Bigger Pockets Money and/or Bigger Pockets Real Estate a day. It keeps me in the game and I always either relearn what I already know, or learn a new idea. I put my AirPods in and listen to an episode a day.

I’m liking this!

@Sally Fairchild. Is a family going to be living there? Little kids? Double nope.