All Forum Posts by: Aaron Anderson

I can't speak for the rest of the cities, but I agree with @Luka Milicevic.  Nashville and surrounding areas are really nice places to live and have a high happiness index.  Deals are all around the area too.  Downtown Nashville is a tough market, but should be a piece of cake compared to California.

In terms of a money sucker, I don't mess with anything that doesn't have central heat and air. Hard to resell. Expensive to install all the duct work. VA/FHA won't finance, so that excludes a lot of buyers.

Bellevue is an affordable B, Inglewood is B with A prices. Woodmont is A and great long term.  I feel like Midtown, Germantown, and 12 South have almost appreciated too much already, but they could be nice depending on your budget.

This is just me playing devil's advocate, but why would you offer more than list price? It can be a good idea in some circumstances, but I'm just curious how you numbers afford it.  Also, what do you feel you can do in a few months to raise the market value from 205K to 230K other than just paint?  Nashville is a very hard market and there a good chance this will go for above list price.  When finding comparables, make sure to just use the past 6-12 months, I know Zillow uses much longer timeframes for their comps and really look at what the other ones have to offer.  You don't want to put too much money into a bad neighborhood.

I'm buying the property for $120,600.  I can do 20% down, but less is always great.

I have an accepted contract on a property and I'm having trouble finding a bank that won't sell my loan on the secondary market and this property doesn't conform to Fannie Mae criteria.  Can anyone point me in the direction of a lender with reasonable fees and APRs that can work with me in the Nashville, Franklin, Spring Hill, Columbia, or Murfreesboro area?

Thanks a ton!

The property is 1 tax Parcel, 2 mailing addresses, and the two"homes" are very different.  The front home is a 3/2 1300 sf with hardwood and tile throughout with central HVAC.  The back home is one big open room, no HVAC, but is has a kitchen and bathroom (so the lenders see it as a dwelling unit).  However, most duplexes are nearly identical in structure, these are totally different.

I have contacted 3 banks that have refused to lend on a property because there are no comparable properties in the area and if the appraiser can't appraise it correctly, they can't lend.  I'm just curious if anyone has come across this and what did you do?  Outside of fund raising cash, are there different banks or loan products that I'm overlooking?

Hey Brady! I am an Agent down here and Spring Hill with a focus on Investing as well.  I'm always on the lookout for good, reliable contractors to meet up and connect with.  It seems like most people down here have waiting lists!  I'll send you a colleague request and we can meet up if you're free.

Welcome to BP Wilson!  You'll find all types of people here.  Realtors like myself, wholesalers, the do-ers, and the wishful thinkers, flippers, landlord, and everything in between.  No matter who you talk to will give you some knowledge or different perspective.  I've met some great people on BP over coffee and dinner and continue to use it for networking.  Good Luck!