All Forum Posts by: Tom Shepard

@Reggie Maggard we do a pretty in -depth phone screening - first question: tell me what you are looking for in a property to rent. Then several other questions - PM me if you want me to send you the list. Then we have them drive by and see if they like the outside and the neighborhood and then call us back. That screens out the tire kickers. Then as suggested by a couple others - we do group appointments, open house style. Get 3-4 people showing up a the same time and it creates a sense of urgency in getting their app in quickly. Remember: we have to process applications in the order which they were received.

We have used Stones River Properties for PM.  Like them, but as with any PM we have worked with it takes time and effort to manage your expectations with them.  You can find them with a Google search, or I'd be glad to make an intro if you want to message me.

My favorite prediction is that the next financial crisis will be in student loan defaults.  College grads these days are coming out with a ridiculous amount of loan debt.  A small blip in hiring could spell default for many and will have a domino effect into other segments of the financial market... when I say "favorite" I don't mean I'm a fan...not hoping it will happen, just think it may be correct...

Nothing beats putting your personal eyes on the properties and the local market.  For some diligence I would recommend also connecting with fellow BP'ers that are local there and seeing what they say about the market in that town.

Thanks Kurtis!  We will give them a call!

We have not been happy with the response time of our plumber in Chattanooga TN.  Anybody from that area have a recommendation?

Nashville is hot.  Don't know about San Fran other than its already ridiculous.  Nashville is seeing appreciation of your comps in double digits during rehabs in some cases.  We are investors in an HPR in East Nashville, bought the property free and clear and had no trouble with a local bank doing the financing.  Been a smooth process so far...but we've got a good partner!  That's key.  

Hi Young K --

My opinion is that land is even more subjective to "location, location, location" than houses are.

You said outside of Nashville, but then said on Main St.

If it's truly on Main St, downtown Nashville, then it could be a good deal, depending on the buy price, etc.

I am local here, send me a PM if you want me to drive by it and check it out for you!

@Giovanni Soto

Do you mean commercial property?  When I think Industrial, I am thinking manufacturing, factories, not homes?

If you are talking about multi-family residential properties with more than 4 units, I think a commercial banker would be a good start.  I can refer you to someone if you want to PM me.

Originally posted by @Caleb Bryant:

@Aaron Anderson @Tom Shepard Thought you guys might be interested in this idea

 Definitely in.  Got a few crazy weeks ahead, but if I can fit it in at all I will be there.  I will send PM.