One of the largest mistakes made by new real estate investors is in poor property selection. is fully committed to make its rental property business a long term success with future plans for expansion.
Even worse is their tenant selection process, often with little or no background and credit checks. It is this dedication and drive which will set them apart from their local peers. believes are its keys to success: Real Estate Ventures, Inc., (“Real Estate Ventures, Inc.”), is a newly formed S-Corporation formed for purposes of managing the underlying real estate located in Franklin, Tennessee, a principal city in the Nashville Metropolitan Statistical Area (“MSA”). is jointly owned by Steve and Linda Rogers, husband and wife.
In addition to their outside revenue, the Rogers received a $100,000 inherence when Linda’s mother passed away recently. is purchasing their first investment property, a well maintained single family home located in the highly sought after Red Mill Estates subdivision. has a contract on the house and the sales price is $107,500. It is estimated the repairs will take one month to complete at a cost of approximately $10,000. are requesting a $53,750 commercial real estate loan to purchase the investment property.
The property is in need of some repair and maintenance (primarily cosmetic). will contract the work to a well known contractor that is personally known by Real Estate Ventures, Inc. A tenant, known by the owners with excellent credit and references, has been located and is ready take occupancy the following month. The credit facility will be based on 15 year amortization and have a loan to value ratio of 50%.
The property selection process is rigorous and based on long term investment standards and tenants are personally evaluated by the owners. believes the key to successful property management is to be committed for the long term in both the property and tenant selection process. are lifelong residents of the thriving Franklin, Tennessee area, a suburb of Nashville.
Steve Rogers, an entrepreneur has owned his own company, Pro Star Paints for 15 years.
There are over 1,600 businesses in the surrounding 3 mile radius of the subject.
The majority of the local businesses are in the service category and comprise 40.1% of the local employment base followed by 20.8% in the retail trade.
has near term plans to purchase additional quality income producing properties sufficient to generate, passive income streams.
Franklin, Tennessee, located in Williamson County, is a Principal City in the in the Nashville Metropolitan Statistical Area (“MSA”) and is ranked 31 in the United States.