Real Estate Investor-Nashville

[Jimmy Petty]

Hello,

My name is Jimmy Petty and I am currently a proprietor/landlord of three properties in Nashville. I manage and rent all properties myself and would like to acquire more rental properties than the 1 per year I am averaging. I would love some advice as to how to obtain capital for more rentals among other things. I am studying to obtain my real estate license to provide supplemental income and give me better access to MLS and save commission when purchasing. Glad to be out of the cubicle for good! I welcome all advice in order to stay this way.

Thanks,

Jimmy

[Josh Braun]

Welcome, @Jimmy Petty!  I've found BiggerPockets to be a great resource and there are plenty of Nashville investors on here.  I take the approach of "find the deal and the money will follow".  

There are plenty of ways to find more capital. Here are a few:

• Increase your W-2 income by asking for a raise, promotion or finding a different or second job
• Offer your services to others:
  • Since you property manage your rentals, offer to property manage other people's rentals for supplemental income
  • Become a real estate agent as you mentioned
  • Wholesale some properties
• One of my mentors says "flip to keep", meaning buy, rehab, resell to then reinvest in properties you want to keep
• Refinance any equity you have in your current rentals
• Refinance or leverage against any equity in your primary residence
• Find a partner to front the capital
• Find a seller financed property

Hope that gives you some additional ideas.  I would highly recommend finding the deal and then figure out the capital after the fact.  Whenever I have a deal on the table, it forces me to think outside the box on how to fund it.  Good luck!