Wholesale Homes of Nashville, LLC http://wholesalehomesnashville.com Nashville Tennessee's Premier Real Estate Investment Company Wed, 24 Aug 2011 12:25:51 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Mail Box Money http://wholesalehomesnashville.com/mail-box-money/ http://wholesalehomesnashville.com/mail-box-money/#comments Wed, 24 Aug 2011 12:21:53 +0000 Scott http://wholesalehomesnashville.com/?p=195 My friend and I are constantly reading various books and looking for the next opportunity to make a few extra dollars. One of our favorite books is “Rich Dad Poor Dad” by Robert Kiyosaki. In this book he talks about making your money work for you instead of working for your money. My friend and I have labeled this “mail box money.” In other words, every day or two I like to walk out to the mailbox and money has magically appeared. Yesterday, I had a check for rent appear in my mailbox from one of my apartments in Nashville, TN. This particular renter has been working with Catholic Charities and the City of Nashville to get some assistance while she was looking for a job. The moral of the story is get out there today and look for your opportunities to make your own mail box money. If you can get enough of these coming in on a regular basis you will be making money instead of working for money. –Scott

]]> http://wholesalehomesnashville.com/mail-box-money/feed/ 2 A long day and a great Saturday Ahead http://wholesalehomesnashville.com/a-long-day-and-a-great-saturday-ahead/ http://wholesalehomesnashville.com/a-long-day-and-a-great-saturday-ahead/#comments Sat, 20 Aug 2011 14:23:57 +0000 Scott http://wholesalehomesnashville.com/?p=189 It was a really long, but productive, day yesterday. It was my first foray into the world of data centers. I saw two examples of data centers . One of the companies I do healthcare consulting for is Cubit, LLC. Yesterday we moved our data center from LPS Integration in Nashville, TN to over to Peak 10 here in Franklin, TN. For some reason, LPS seemed very anxious to remove us from their care. Is it just me, or would any of you too love to have $1800 a month for providing nothing more than three square feet of space in your home? They did not seem to see it that way. Interesting. Regardless, that was a nice little 12 hour adventure.
Speaking of rent. I am headed over to one of my rental properties today to collect a little rent. This is a 4-plex and these two tenants pay weekly and typically a couple weeks at a time. Let’s hope they are home and have money today. These two usually are. Have a great weekend. –Scott

]]> http://wholesalehomesnashville.com/a-long-day-and-a-great-saturday-ahead/feed/ 3 Crazy Banks http://wholesalehomesnashville.com/crazy-banks/ http://wholesalehomesnashville.com/crazy-banks/#comments Thu, 18 Aug 2011 23:48:10 +0000 Scott http://wholesalehomesnashville.com/?p=180 I started and ended my day working with lenders today. I am attempting to put together a short sale for a homeowner in Nashville, TN. So, this morning I called to check on the status and they magically need more signatures and information from the homeowner. It was really a little strange because I had two different departments on the line together arguing over the proper procedure. This just proves that they really have no idea what they are doing. Regardless, we will keep trying to push this one through in an attempt to save her credit.
This afternoon I was working with a different, obviously, lender to refinance my personal residence. So far so good. I am trying to take advantage of these crazy low interest rates. Did you know that the current rates are right around 3.75% for 30 years and 3.25% for 15 or 10 years. Wow!

]]> http://wholesalehomesnashville.com/crazy-banks/feed/ 3 For Sale: 400 Dominion Ct., Franklin, TN 37067 MLS#1279415 http://wholesalehomesnashville.com/for-sale-400-dominion-ct-franklin-tn-37067-mls1279415/ http://wholesalehomesnashville.com/for-sale-400-dominion-ct-franklin-tn-37067-mls1279415/#comments Wed, 17 Aug 2011 16:09:45 +0000 Scott http://wholesalehomesnashville.com/?p=177 5 Bedroom, 3.5 Bath home on a corner cul-de-sac lot. Listed for only $397,500. Granite and cherry kitchen, HUGE bonus room. Amazing fully fenced yard with irrigation system. Three car garage with additional storage closet and workshop cabinets. This home has everything including a home warranty and $3000 towards closing costs.
Check out the slideshow!

]]> http://wholesalehomesnashville.com/for-sale-400-dominion-ct-franklin-tn-37067-mls1279415/feed/ 0 732 Yowell Ave, Madison, TN – Rented http://wholesalehomesnashville.com/732yowell/ http://wholesalehomesnashville.com/732yowell/#comments Sun, 23 Jan 2011 22:27:48 +0000 Scott http://wholesalehomesnashville.com/?p=157 Custom cabinets and $1000 allowance to pick out appliances. Wow! This home is huge at 1433 sq ft. Great side porch. Put some rocking chairs out and watch the world go by. Great corner lot with huge trees.
3BR 2BA, 1 car garage, 1433 square feet in a great neighborhood. This is a complete rehab that was taken down to the studs. Completely new plumbing, electric, HVAC, roof, siding, custom cabinets, fenced yard, the list is endless. Click for Video

]]> http://wholesalehomesnashville.com/732yowell/feed/ 0 Investor Special!! http://wholesalehomesnashville.com/investor-special/ http://wholesalehomesnashville.com/investor-special/#comments Sat, 22 Jan 2011 22:02:32 +0000 Scott http://wholesalehomesnashville.com/?p=132
Front

Front of Bessie


Here is my latest deal.
1306 Bessie Ave, Nashville, TN
3 Bedrooms, 1 Bath 1069 sqft.
Tax Appraisal of $64,200 and comps of approx. $70k.
New Roof and minimal work to get it ready to rent.
Yours for only $15,000.
Call or email today for a showing.

]]> http://wholesalehomesnashville.com/investor-special/feed/ 0 Kenmore Rehab – SOLD!!!! http://wholesalehomesnashville.com/kenmore-interior-video/ http://wholesalehomesnashville.com/kenmore-interior-video/#comments Sun, 01 Aug 2010 20:47:12 +0000 Scott http://wholesalehomesnashville.com/?p=122 Here is a video I shot of the interior of my last rehab. This house is a steal at $149,900. Located in the desirable east Nashville area. Leave me a comment to buy this house.

]]> http://wholesalehomesnashville.com/kenmore-interior-video/feed/ 0 Short Sale Tips http://wholesalehomesnashville.com/short-sale-tips/ http://wholesalehomesnashville.com/short-sale-tips/#comments Thu, 29 Jul 2010 22:21:05 +0000 Scott http://wholesalehomesnashville.com/?p=112 Avoid ForeclosureI have been talking to numerous homeowners over the last month that owe more money on their mortgage than it is currently worth in their particular neighborhood.  This is an opportunity for a short sale. The definition of a short sale is when a property is sold and the lender agrees to accept a discounted payoff. This means that the lender will accept as payment in full less money than is currently owed on the property. One example of this would be if the unpaid balance is $100K and the property sells for $75,000. The lender would then agree to accept the $75,000 as payment in full. 

Here are four short sale tips:

  1. Prove that you are unable to continue paying on your mortgage. The lender will need documentation such as a current appraisal, a budget or balance sheet showing your financial situation, and recent comparable sales data for homes in your neighborhood. Make sure this is a very strong argument so the lender will agree to do a short sale and forgive part of what they are owed. Also remember that all lien holders will need to sign off on a short sale. This includes any lenders that may be holding a home equity line of credit.
  2. Be careful or you may still be subject to judgments and taxes. The lender may still sue for any outstanding balances. Always negotiate the terms of the debt forgiveness in writing with the help of a qualified real estate attorney. Note that the IRS views forgiven debt as ordinary taxable income. You will be required to pay taxes on the amount of debt that the lender forgives. This could amount to a very large tax bill on April 15th.
  3. A short sale is easier on your credit score. You have worked long and hard to get a good credit score and keep it good. A short sale is still going to affect your credit. Depending on how far behind in payments you are it could be anywhere from 100 points to 200 points. However, most lenders will not lend for five years after a foreclosure and two years after a short sale. This will also affect other areas of your life. Many companies check credit scores including: hiring managers, cell phone companies, and utilities.
  4. Just remember that lenders DO NOT want to foreclose. It is expensive for everyone involved. Oftentimes the lender is just as motivated as the homeowner to avoid foreclosure. They do not want to be the landlord, real estate agent, and property manager on any properties. 

If you do your homework ahead of time and work diligently with the bank a settlement can be reached that will benefit everyone and may even preserve a little of that hard-earned credit score.

]]> http://wholesalehomesnashville.com/short-sale-tips/feed/ 0 Stop Foreclosure – Nashville, TN http://wholesalehomesnashville.com/stop-foreclosure-nashville-tn/ http://wholesalehomesnashville.com/stop-foreclosure-nashville-tn/#comments Sun, 18 Jul 2010 20:03:15 +0000 Scott http://wholesalehomesnashville.com/?p=80 Foreclosure

Here are a few tips to help stop foreclosure on your home. HUD offers several government programs from financial incentives to counseling stop foreclosure. Whatever you do, don’t ignore the problem. It will not just go away.

  1. Don’t ignore the problem. The further behind you get on your payments the more likely you will lose your house.
  2. Contact your borrower. Many lenders have programs to help homeowners in distress.
  3. Make sure that you respond to all mail from your lender. Early letters are just tips and later leters explain the foreclosure legal process.
  4. Make sure that you know your mortgage rights in your state. Tennessee is both a judicial and non-judicial state. Check your loan documents to determine what process your lender will pursue.
  5. Understand the foreclosure process and foreclosure prevention options.
  6. Talk with a HUD approved housin counselor. Many of these are free or very low cost.
  7. Prioitize your spending to make your mortgage number one on the list of bills to pay.
  8. Sell other assets to help raise cash to pay the mortgage and avoid foreclosure.
  9. DO NOT pay fees to foreclosure prevention companies. Use that money to pay your mortgage.
  10. Avoid foreclosure recovery scams. 

Please contact us if you have any questions regarding the tips above and would like to explore your options for avoiding foreclosure or stopping the foreclosure process.

]]> http://wholesalehomesnashville.com/stop-foreclosure-nashville-tn/feed/ 0 Tips on Selling Your House Fast – Nashville http://wholesalehomesnashville.com/tips-on-selling-your-house-fast-nashville/ http://wholesalehomesnashville.com/tips-on-selling-your-house-fast-nashville/#comments Tue, 13 Jul 2010 22:30:50 +0000 Scott http://wholesalehomesnashville.com/?p=71 I am always scanning the internet to help me locate great ideas to share.  Here are ten tips on selling your house you can use today on how to sell your house yourself fast:

  1. Do your to-do list:
    Fix all of those nagging things you have let go in your house over the last few months, or years. If you cannot do it yourself then look in the phonebook for a handyman.
  2. Have a certified home inspector give the house a thorough going over:
    This is the same inspection your buyer will have done. They will check everything from electric, plumbing, windows, doors, HVAC, everything.
  3. Get rid of anything personal:
    Pictures, kids artwork, 1000 refrigerator magnets, etc.
  4. Clean, Clean, Clean:
    If you can see it, clean it. Also, cookie scented candles are your friend.
  5. Staging:
    Move around the furniture and get rid of any excess to make your rooms look BIG. This will also help if you have a particular niche or corner that a buyer may not know how to use.
  6. Make the floors POP:  
    Professionally clean and stretch the carpets, clean the wood and linoleum. If all else fails then it might be cheaper to replace the carpets than have the home sit on the market another 60+ days just because buyers cannot get past your stained or dark carpets.
  7. Curb appeal:
    Add some flowers, mulch the beds, trim up the tree limbs, paint the handrails, and get rid of the 1000 kids toys.
  8. Marketing:
    Pick the right agent that will market, market, market to sell your house in days. A good agent will know the best way to sell your house. Marketing will include not just the MLS but also every other online tool available (i.e. Craig List, etc.) Experience and networking is key.
  9. Price, Price, Price:
    Choosing the correct price is critical. Everyone wants top dollar for their home. However, to sell your house fast it has to be priced right for your specific area. Buyers will pay a fair price but they also want a deal. To sell a house fast it is best to price the house just slightly below the market area.
  10. Be prepared to negotiate:
    This may not necessarily be price but could include other things like fixtures, appliances, or your beloved big screen TV.

I hope these tips on selling your house will help sell your house in days rather than months.
Good Luck!

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