Nashville STR Housing Development

[Tanner Hale]

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $3,800,000
Cash invested: $1,100,000

We purchased six STR approved homes on average for 595,000 each. They were nothing but foundations poured at the time. We tied them up and sat on them for nearly 6 months. By the time construction was completed and we had closed on the properties the developer listed the last two homes at $779,000 each. That's nearly over $900,000 in appreciation! We've since had the 6 listings open for just shy of a months and we've already broken $50,000 in revenues.

What made you interested in investing in this type of deal?

The STR cash flows

How did you find this deal and how did you negotiate it?

We leveraged high quality relationships to find the deal pre MLS.

How did you finance this deal?

Conventional loan/Partners

How did you add value to the deal?

Professional designed and managed.

What was the outcome?

TBD

Lessons learned? Challenges?

Zoning changes are in discussion w/ Nashville Metro, it's something to pay close attention.