Re: looking for a word of wisdom and leads for investing in Nashville and Duram

[LEONID ORLOV]

I am a Los Angeles investor looking for out of state investment opportunities 

This fall I am sending my 2 daughters to college. One goes to Belmont and other to Duke

I would like to explore student housing or other investments in these areas.

I am seeking for a word of wisdom on investment environment in these areas, what are the investment metrics ..CAP for different types of residential housing SFR or multi-units

Thanks in advance for your help 

Leonid Orlov

Hermosa Beach,CA

[Steve Chaisson]

For Belmont it depends on your price point and how close you want to be to campus.  You're hard pressed to get a single family home under 300k that is close to campus in a decent area.  There are some condos in Green Hills that can be purchased in the low 100's that might be an option.  If your daughter is willing to drive 10 minutes you have more options.  The neighborhoods are very diverse and you really have to evaluate them on a street by street basis.  

[Jared DeValk]

Not necessarily. I have found quite a few opportunities near there, just not on the MLS. be sure that you're working with someone that aligns with your investment strategy and your goals.

[Anne Wallace]

@Lenoid Orlov

Hi Lenoid,

I am a Nashville native. Sylvan Heights is a neighborhood that I believe is improving .It is about 3 miles from Belmont University . Low $200s maybe. Sylvan Park is nice but a little more expensive. The railroad track is what separates Sylvan Park and Sylvan Heights I believe. If you need some contacts let me know. 

[LEONID ORLOV]

Anne,

Thanks for the information it is very valuable, coming from a local investor.

What kind of COC or CAP returns are prevalent in the area in each of the A,B,C areas correspondingly? .. in Los Angeles its %3 CAP in A, 4-6% in B and 7-8% in C .. even that is getting harder to get , looks like yet another bubble is coming

Yes, I would appreciate a referral for an investments aware contacts.

Kind Regards,

Leonid 

[Aaron Mazzrillo]

Since you're only looking for a word of wisdom, my word is 'Don't.'

[LEONID ORLOV]

Aaron,

I did not quite understand your "only word of wisdom" comment, I would appreciate you expanding on your thought.   I am trying to get information on investment metrics for the area.

I did listen to your podcast, lots of good ideas.

How is the market in your area, I am actively looking for investment opportunities. LA went crazy .. people asking 600k for a money loosing proposition in South LA for a 1b three-four-plex with GRM of 12-13 ... and get em sold .. either I am not getting something or we are seeing creation of yet another bubble created by wide eyed speculating idiots

Please, put me on your list of buyers for your wholesaling in SB.

Kind Regards,

Leonid

[Michael Jobe]

@LEONID ORLOV Do you intend to purchase property for your daughters to live in & then rent them out for cash flow once the young ladies graduate? Or do you want to purchase a duplex, triplex, quad MF property so that your daughters' rent will be paid by other tenants? I have no knowledge of Belmont area but can give you some insight into the Duke area. 

[LEONID ORLOV]

Michael,

Either one of the scenarios you have describe would work.

If the property is not feasible by proximity or investment metrics to live in, the reasonable alternative that would not be in a war zone that could pay for her housing with cash flow would work.

What kind of CAP one should expect in A,B or C areas?

Thanks for the feedback,

Leonid

[Jared DeValk]

Originally posted by @Aaron Mazzrillo:

Since you're only looking for a word of wisdom, my word is 'Don't.'

I and others would appreciate an explanation of your comment. Ignorance is an acceptable answer.