Tennessee Rocks

I’d have to say I couldn’t help take it as a positive omen that within 1 hour of owning the St. Andrews property on Friday it was rented for $950/month. We have to buy a fridge but we don’t have to paint. My property manager is dealing with everything and the tenants have headed back to NC to get their stuff and move in ASAP!

The power of Tennessee continued as I couldn’t help notice that the new Miss USA crowned on Friday is Rachel Smith who was Miss Tennessee.

At $950/month I am positive $98/month on St. Andrews (taking into account: mortgage, taxes, insurance and property mgmt fees). Now we just need Gardendale rented for at least $860 and Sherborne rented for $950 and we will be dancing!

Spoke to Cath today about our big trip coming up. It will be great to see her in Edinburgh. Thankfully Tomoko and Ty return here on Monday. I’ve missed them while they were in Japan.

1031 Exchange Craziness

We sold the Tradewinds property for a decent profit and we decided to do a 1031 exchange and buy properties with better cash flow potential. We looked at Reno, Nevada and Murfreesboro, Tennessee (south of Nashville). We decided on Tennessee. We have to buy three of these homes to meet the 1031 requirements. What’s pretty funny is that all three of these houses are bigger than our townhouse in San Jose yet even all three together are worth less.

St. Andrews