All Forum Posts by: Carl Fitch

I have been looking over Zillow for days now and cannot find anything that will generate or come close to generating a positive cash flow by renting through a single family home or rent by the room situation in my area according to the BiggerPockets calculator. Are there just no deals right now in my area or am I not looking in the right place/doing the right calculations? 

@Alexander M Dant thanks for the reply! I would absolutely be interested in joining that group when I’m in the area this summer! 

And renting out by the room as a more permanent thing is something I hadn’t actually thought of yet but seems like a great idea. I have been searching Zillow pretty much daily and found some homes in the north Nashville and Antioch areas that look like that need a little work but nothing major in the range of $250,000-280,000. But they tend to disappear very quickly within a few days or less. My dad worked in construction growing up and I have a good deal of experience/access to help through him and definitely wouldn’t mind finding something that could use a small amount of remodeling. 

And I would probably prefer to work full time while going to school because that would help out a lot but I think the times would conflict unless there are night classes. Something I need to check into though! 

Thanks again for the reply and insight! Hope to meet you and the others in the Nashville group next summer! 

@Reid Chauvin That's probably the biggest hold up in my plan right now for sure. Fortunately I have no debt right now and will not have any from graduate school. I have saved up enough to make a good down payment on a conventional loan but was also thinking of going the FHA route if possible so I would have a little bit of a buffer in how much I have saved up for my payments until I can get a full time job. Once I am fully employed I would like to refinance it as a 15 year and be aggressive in trying to pay it off quickly. My plan is also to be working part time during graduate school in order to have some income. Otherwise I would have to delay until May when I could get a job. I'm interested in purchasing around January because I've read that that is often the cheapest time to buy but maybe it would be best to hold off until late spring.

Hello everyone! I am currently an undergraduate student and plan to move to Nashville for my internship at PWC next summer and then pursue my graduate degree afterwards. I plan to rent for a few months, get a feel for the area and then hope to purchase a home sometime around next January and rent out any spare bedrooms I have for a few years until I become more established in my career. Eventually (within 5 years) I would like to move back to my hometown in Northwest Arkansas and keep this home in Nashville as a rental property. I forgot to mention that I have family in the Nashville area so I wouldn’t mind coming back to check on this property regularly. 

Does my plan sound logical? Does anyone have any similar experiences? Should I rent for the 4-5 years I'm in Nashville? Does anyone have any insight into what properties are doing well in the area (SFR/condos)? Any advice on how to find good deals? I am currently reading Brandon Turners book on rental property and hoping to learn as much as I can over the next year. My budget is $300,000 max and preferably under $250,000. Any advice would be great for me! Thanks!