All Forum Posts by: Allan Smith

Hey Folks! Just thought I'd post to see if any of my fellow investors in Nashville, TN, have worked with a handyman that knew what he was doing and did good work. mchnashville.com came with a strong reputation but is booked 3 months out supposedly. 

Tasks include:

Water drainage issues (3): not draining away from back door, drip from porch ceiling, bypassing gutter and damaging sofit/facia

Plumbing venting: sewage smells emerging from clothes washer drain pipe sometimes

Just let me know if you know someone who does good work! Trying to avoid relying on someone's SEO or Craigslist.

We are buyers in the Nashville area:

615 543 6777 (mobile)

Looking forward to working with you.

Steve - It would definitely be interesting to hear more investors' opinions of what the market is doing. I've been told that, historically speaking, nashville's real estate market dips every 7 - 14 years. The last one, of course, was 2008. However, I am of the opinion that the current boom is more sustainable as more people are moving to nashville than ever before! I've seen stats the 1000 people move here each week. Our inventory currently can't keep up, so prices are sky-rocketing. There will certainly be a lull in the next several years, but Nashville is becoming a more full metropolitan area. Atlanta had a boom and the prices of homes have overall maintained.

That all said, if you want to do traditional rentals, shoot for the edges of town. Even Donelson, Smyrna, Madison have more normal markets with decent returns. If you can afford it, buy something near downtown Nashville for $300k+ and list the place on airbnb! I've heard of people getting $10k+ in monthly gross rent from airbnb listings.

@Luis Montanez - How does one go about getting those leads from the local fire department? My company and I are interested in focusing on this niche. Feel free to send me a PM! Thanks!

@Luis Montanez - How does one go about getting those leads from the local fire department? My company and I are interested in focusing on this niche. Feel free to send me a PM! Thanks!

Colin makes some very good points. Doing rehab work is a great way to quickly add equity to a property. If you are confident the extra unit won't stretch you too thin in finances, experience, and time, I'd say that's the better launch pad! Just make sure you do your duty on screening tenants.

My two cents worth: Will this house hold it's value for at least a little while? Perhaps you could sell it down the road if needed, and for now use it to get two more houses. Now you are building equity and cashflow with three houses instead of two! Then sell it and invest in an area that shows more promise of appreciation?

Best of luck to you!

I think your response rate will vary between sub-markets quite a bit. I hand-wrote letters and typed the envelopes (which is backwards apparently) and got ~5% callbacks in one area, and a painful 1% or so in another.

@Sean Fitzgerald

Yes, it seems everyone is snatching up deals with the assumption that rent and appreciation will catch up.  I am very new to the real estate scene, so it is all very interesting how it is playing out. I live in Woodbine and it is dog-eat-dog around here!

I may be getting a couple La Vergne rentals under contract soon to wholesale. $75k, will rent $900/mo+. Repairs needed shouldn't be more than $10k from the sounds of things, but I'm looking in them this weekend.@Sean Fitzgerald

Thanks, gentlemen. You make great points and have convinced me. LLC, it is!