Best House Hacking Strategy: Nashville

[Austin Helfrich]

Hello Everyone,

I am moving to the Nashville area this summer for my career and have saved enough for a down payment on a house hack!  Price max is $350k.  I'll be working in the Franklin area so don't want more than an hour commute.  My question is what is the most successful house hacking strategy in the area with main goal being cashflow.  Any appreciation would be a plus but looking for neighborhoods and strategies that will cashflow the best to offset the mortgage payment.  So does anyone have experience with the rent by room strategy or have found a lot of success with air bnb in certain areas?  Any guidance and information would be greatly appreciated!

[Ava M Demartini]

Hey Austin, 

Welcome to town! We are in the process of looking into something similar. The Nashville/Franklin area is booming with brand new apartment complexes everywhere. You see a lot of perks being offered left and right to entice renters to sign a year lease and a lot of them are willing to negotiate. I think you might be able to make a rent by the room house hack work pretty well for you as that is a different target market compared to all these complexes going for 1bd apt+ tenants. I also like where Tony's head is at with the short term rentals as it seems like tourism is picking up here.

Congrats on the new job! I think you'll love living here.