Multi-family residence in Nashville, TN

[Andy Betancourth]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Nashville.

Purchase price: $400,000
Cash invested: $50,000
Sale price: $625,000

We bought this triplex for $400,000. We did some cosmetic work, installed new kitchens / baths, flooring and painted it. We kept it for a while as short term rentals generating $96,000 per year. Great deal right next to Germantown in a quickly growing / appreciating​ area pretty close to Broadway.

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

The property and area had great potential. Being on a corner lot in a growing safe area right next to Germantown and so close to DT made this a good investment.

How did you add value to the deal?

The remodel and paint added a great value as well as the stats / numbers pertaining to the short term rental business.

Lessons learned? Challenges?

City permits were pretty challenging but definitely a great learning experience