NFL Player ready to buy first short term rental in Nashville

[Vince Biegel]

Hey Bigger Pockets, my name is Vince Biegel and I've played 6 years in the NFL. Being in the NFL you often get approached by interesting characters to invest into a real estate deals. My lack of knowledge and trust prevented me from investing into real estate all together for years. But being on Bigger Pockets, it has been an incredible tool to connect with quality individuals in the space. I've been connecting with many members as well as getting advice around different asset classes in real estate. I'm actually in the process of doing a deal that came directly from this Forum. So thank you Bigger Pocket community.

I'm looking to connect with members who are doing short term rentals in the Nashville area. I would love to hear from members who own/operate short term rentals in Nashville. What areas would you ideally like to invest in? What kind of units are performing the best in the Nashville market? What and where to avoid? Forward trends you may see? This community is amazing and I would love to get your perspective. Thank you looking forward to hearing and connecting with you.

[Jason Wray]

Vince,

You have a few good spots in Nashville that tend to do well in both STR and LTR. If you want to expand into a 2-4 unit Multifamily then check out Glengary Park, Eden street Area, Village by the Creek and Edgehill. Both great places to invest in the MF's 2-4 units and more doors equal more income. I have some customers who also played in the NFL and NHL. I have a lot reach out after getting bad advice from a friend or "interesting character".

I mention this because its not always wise to buy big and expect big returns in regard to sale price. You can make a dollar stretch a lot further being frugal and Multifamily homes can provide a good ROI. Most of my California buyers invest in TN, FL, OH, IN lately Oregon Coast but TN stands out with some great price points and lower annual taxes.

If you want higher price points you can look into Elliston Place and Music row for more luxury Condo's or homes. Personally I think those price points are a little high in this market to turn a profit and if home prices change it will hit luxury homes first.

If you want to buy off the cuff Knoxville have some great homes on acreage for a fraction of the price. Plus you can find a good 3/2 on 2-3 acres that will only run you $400-$500 a year in annual taxes!

I usually just take a drive from Tampa, Fl to TN to go see friends and check in on properties. This is the time of year to visit and make some offers. Great weather and a lot of sellers do not want their properties currently listed to roll to far over into 2024 adding more DOM - days on the market. Might be a good time to browse for a fee REI's to add to your portfolio and get a good deal.