All Forum Posts by: Avery Carl

Oh well in that case I say test your luck with the airbnb! I don't have any experience with people renting that long but it could be a good niche for you. And if the HOA gives you a problem later then address it at that time. Worst case scenario you end up having to get a long term renter, and without knowing the financials on the house, I would think you could still cash flow pretty well in that scenario.

My long term rental is traditional.  The ones I have on airbnb aren't in Nashville so they aren't subject to the rules about the permits.  You could always test the waters with the long term by doing a little research on rent in the area, and also advertising to see how much you might be able to get before you break any rules with the city.  My question is, does the city consider 30 days short term and and necessary for a permit?  The answer to that question would determine my next step!

I'm a buy and hold investor, don't have much experience with flips. As for me, I was able to get what I consider great deals in the past few years, but as the market has risen I've been pushed out to suburbs and other areas (which is fine). Prices are skyrocketing and ROI is significantly less than it was, say, 3-5 years ago. As with anywhere there are definitely deals still out there, but I don't consider it the investors paradise that it was several years ago.

I have one long term rental in Nashville and a few short term rentals in another area.  While I do make great money on the short term rentals, I am cash flowing $800 over the mortgage on my long term in Nashville, for very little work or attention.  I don't expect all of the uproar about airbnb's in Nashville and the freezing of the short term rental permits to last in Nashville.  If you're cashflowing on long term for now, I would just continue with that until the city's conflict with short term dies down, which it inevitably will.  

@Paul Paschall I am in the exact same boat as the OP.  Started investing last year and quit my job in the music business in Nashville this year.  I did the online class and found it very easy.  I know not everyone has had this experience, but I found the TN state exam to be extremely easy.  Maybe I took it on an easy day.  Who knows!  If you have any questions or need any help getting through let me know!  I do a lot of deals in East Tennessee.

No hard feelings! Thank you!

@Andrew Wong and @Daren H. you guys are totally right.  I'm just hesitant because we have a well oiled short term rental machine rolling with this woman and I'm worried it will be hard to take her out of the equation and put a new person in.  But you guys are right!

@Joseph ODonovan A. What was the point of that comment? We don't know each other and that's a pretty inappropriate thing to say. And B. When you have a cleaner who is cleaning 3 properties multiple times a month, and she's asking for $25 extra a time or two each month on each property, that adds up to a lot per year. Is $25 here and there breaking the bank? No. But do @Luke Carl and I want to pay out a few thousand extra dollars a year for no reason? Also no. 

We asked the question because we are having trouble deciding when we should draw the line and stop saying "it's just $25" because she does do a great job, but it's starting to feel like she's being opportunistic about asking for extras any time she can.