All Forum Posts by: Tony Hightower

Most times lenders will not be required to count debt that will be paid off in a relatively short amount of time (6-10 months). Find out what that limit is for your lender.

Then as a strategy, see if you have a large payment debt that could be reduced to the time limit required. 

Example, I owe $12,000 on a truck loan that is $1,000/month. The bank will not count any debt that will be paid off in 6 months or less. So, paying $6,000 toward my truck payment will bring my loan term down to 6 months for a payoff.

This may or may not be an option for you. Talk with your lender about other options. Sometimes they can give you ideas. 

Don't give up, think outside the box for options. 

welcome to BP. I am also from Clarksville. Life long resident. Just purchased my first Buy/hold. Previously i have sold properties needing rehab. But, will now be looking into more rehabs and buy/holds. 

Good Luck Eric!

I do not think that i would have my bank get my insurance for me.

Sounds too high. But, Even though i am not far from you, i know the building boom is big in your area. i would get several more estimates. if you know a local realtor, call and ask if they have a recommendation.

Listen to ALL of the BiggerPockets podcasts. That is just for starters. Spend a little time scanning forums and gathering info. Find your closest REI group/meetup and visit more than once. View youtube for biggerpockets on analyzing a deal. Www.biggerpockets.com/ubg is also a good resource. Good Luck.

Welcome @Jerome Henderson III.

Even with the close proximity, Clarksville and Nashville are vastly different markets. Good luck!!

I agree @Ron Dayley. We were/are one of the fast growing counties in the U.S. just a few years ago. But, I can see a large burden on our infrastructure already and not a lot of resolutions lay ahead.

@Alisha Burgfeld, I am in Clarksville and have lived here all my life. I am a new investor of sorts and in process of buying my first property. Clarksville is a very tight market right now for buy and flip. I heard a few stories last night of repos being bought over bid price that needed lots of work. Local investors here are buying up the deals quickly.

If you have listened to any of the podcasts that had creative thinking involved in finding motivated sellers, I would try a few of those methods. Get to know a good realtor that may be willing to pull lists for you from MLS to save a little.

If you have any specific questions about any parts of town, let me know. I grew up on North side and have lived downtown, west, and south. I will try to help if I can.

Good Luck!!

No Ryan, I am not experienced and this will be my first intentional investment property. I am also a little nervous about it. But, I keep telling myself to not over analysis, which I am prone to do. It took me more than two years to buy my personal residence because of this.

I wanted to get started for the sake of getting started. There is a chance I will make a mistake but I hope I have made that a very small chance.

I have check appliances, a few years old in great shape. Have also verified the taxes. I also sure of rent but believe the PM recently placed tenant. How does PM affect contract offer? Do i have to buy PM out if i want another option? Am I bound by previous owners contract with PM?