All Forum Posts by: Cole Melcher

Millionaire Real Estate Investor by Gary Keller

I'm a fan of spreading the risk over several properties. If you have six properties and one goes vacant, your occupancy rate is at 83%. If you bought them right the other five should support all six until you can get it rented. If you have everything tied up in one property and the tenant leaves, your occupancy rate is 0%. Reducing risk is key to being successful in this business. Williamson county is a great area to invest in and appreciation should be good there, but cash-flow should be the higher priority over appreciation. Appreciation is speculating what will happen in the future. With cash-flow it doesn't matter what happens in the future, to a certain extent. The housing market could crash again, but you would be in a position to ride it out if your properties were generating positive cash-flow.

Welcome to BP Joel! This website is full of great information that will help you on your journey.

Paul had a lot of great advice! I would also recommend reading FLIP: How to Find, Fix, & Sell Houses for a Profit by Rick Villani & Clay Davis. I would say it is the best book on flipping that I have read (and I have read a bunch). It's very comprehensive and an easy read.

Once you get you financials in order and ready to start investing give me a call. I'm a realtor in Nashville and I specialize in assisting investors. I flip as well and own several rentals so I can help you on your path to financial freedom!

Good Luck!

615-305-3910 : [email protected]

Tony,

I'm a Realtor in Nashville, and I specialize in assisting investors. Most of my clients are buying in the 1%-1.5% range and doing very well. In areas with a lot of competition (IE. East Nashville) you will be hard pressed to find a 2%. There are just so many people trying to buy over there that it drives the prices up. My suggestion is to pick a good stable area and buy properties in the 1%-1.5% range. They will be less of a headache. If there is anything I can assist you with don't hesitate to ask.