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Updated about 2 years ago on . Most recent reply

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Brandon Combs
1
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7
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First Time Buyer - HouseHacking in rural areas

Brandon Combs
Posted

Hey there! :) First time posting the BP forums here. Just moved to Nashville and looking to acquire my first property via househacking. I was first searching for small multifam properties, but have been getting more settled with the idea of a 3bd single family home with a basement that I can convert into another bedroom/studio (I'm a musician/drummer, so it would ideal to have an area I can work out of where I also live). Planning to rent spare rooms to family/friends, and move out after a year or so and having it run as a LTR or MTR hybrid 

While still searching within Nashville Metro area, my realtor exposed me to Ashland City.....small town 30min away from Nashville and Clarksville. Seeing some cool properties, one in particular that's a new construction. Did my due diligence & know the numbers work as a househack (with good promise for competent rents down the line once I decide to move out).....Outside of dealing with an annoying back and forth with the seller/developer, I can't help but get cold feet due to the size of the town (around 5,000 population). Absolutely love the property, due to the fact that it's a new build (I'm not the most handy person, gotta know your strengths lol) but not familiar at all with investing in such a rural area. 

Any opinions/advice? Am I just getting in my own way? Is this yet another form of analysis paralysis? Lol 

Deal Context: Listing price $265K. Seller would offer $15K concessions. FHA loan. 3bd/2ba with 2door garage, and downstairs basement/living room, Side A of 2 story duplex, 2022 build

  • Brandon Combs
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