First time home owner/landlord

[Christopher Surber]

Hello everyone! I just recently moved to the Nashville area... Murfreesboro specifically. I’m looking at buying a 2-4 unit Multi family home as an investment/“house hack”. I’m a full time firefighter looking for an investment opportunity to set myself to be financially secure up for a family and retirement income.

I’m not looking to purchase for another 6 months but I definitely am going to do some homework and make sure I know what I’m getting into in the mean time. If this goes well I’d like to own several. I’m wondering if anyone could possibly point me in the direction of books websites or advise that could point me in a good direction and possibly help me out!

I was told about the millionaire real estate investor book. (I am receiving it as a Christmas present lol)

Thank you all!

Christopher

[Tony Crabtree]

@Liz Ridgway Really it would be pretty hard to miss anywhere within 30 min of Nashville right now. Murfreesboro is a hot market. It's plateauing like most right now, but it is pretty difficult to find something cheap enough to cash flow right now. I have lived here for 15 years and we started investing almost 5 years ago. Back then it was pretty normal to find a $120k house near MTSU and rent it for $1200/mo. Now that same house will cost you $200k. There are some available through wholesalers and such, but usually in the C neighborhoods, which I don't think would be very smart, unless maybe you're on the north side of the square. 

As far as the tenant pool you will definitely not have a hard time renting anything here. If I have a a vacancy it is because I didn't follow a good procedure when I knew someone was leaving. 

Right now we have a home with someone leaving, and I'll likely miss about 7-14 days of rent. And that is just because I'm a bad property manager. 

I know you're already using a Realtor but if for some reason I can help I'd really love to. I THOROUGHLY the numbers game with local rental properties.