All Forum Posts by: Bonnie Rhodes

@Zeke Pirtle welcome to REI! If you are looking to do a STR in Nashville, the regulations are strict and properties can be potentially more expensive than doing a STR in other markets. What markets are you considering?

@Cassi Justiz good point about overbuilt rentals. I graduated from Auburn University. I don't know the exact statistics on how many rentals were built, but massive property management companies came into town and built large apartment complexes. Meanwhile, the university was capping enrollment and not expanding at the rate at which they were enrolling. Maybe by 1000, but not at the rate that the apartments were being built.

With that being said, majority of the people I knew that lived in those apartment complexes did not stay in them more than one year. The newly built complexes were thrown up quickly and had a lot of issues with them. I'm sure it changes campus to campus, but upperclassmen wanted to live in houses off-campus. The houses within walking distance seemed extremely overpriced to me, but people will pay for it.

I have talked on a couple other forums about this topic. It is interesting and definitely varies by campus!

That is awesome that you are so ambitious about real estate investing at your age. 

I would recommend joining local Facebook groups about REI & the same for the markets that you are interested in! I know that COVID restrictions have slowed MeetUps, but they are a great source of connecting to local investors. I plan on going to more MeetUps in my area as well when we are able to meet again.

Best of luck to you! It's a grind but it's worth it!

^ I second @David M Trapani. There are good areas in Tennessee to own rental properties. I work out of Middle Tennessee & there are great areas to own rentals here. Nashville continues to grow & attract businesses. However, the price of houses in Nashville are too expensive if you are looking for the 1% rule. 

Clarksville has a military rental community that is north of Nashville. Houses there are cheaper and rent can be higher for shorter term rentals. It is also a hot market right now.

Hey Jay! I'm going to shoot you a message.

@Felix Poulin That's awesome! Yes, let's connect!

@Frank Agyeman-Duah Hi Frank! I work with out of state investors pretty regularly in Middle TN. If you have any questions, I would be happy to help you. 

@Nathan Fridley what college is it? Are the classes in person, virtual, or a hybrid? Are the rent rates for other houses in the area at a discounted rate?

Another thing to think about - the trend might go towards off-market housing with COVID restrictions. Our on-campus housing was MUCH more expensive than off-campus housing. Having COVID restrictions, a more expensive price, and partial virtual learning might influence more students to live off-campus. 

The best thing about on-campus housing is the walkability and the ability to live near friends. If students are not going to classes in person and students are not able to hang out with their friends as easily on campus, what are the additional benefits? 

@Shimira Greene war eagle! Glad to connect with another Auburn fan!

It is crazy how much the town changes every year. When I was a freshman in 2016, they were starting to build the Evolve building downtown. The buildings are put up so quickly that they have issues on the inside. Everyone who I knew that lived in the newer large apartment builds only stayed one year and then moved elsewhere. 

I would love to hear your thoughts on the market!