All Forum Posts by: Carrie Carlton

Wow! I had no idea the city was getting that difficult.  We ran 3 STRP 2013 to 2016. It was extremely profitable, but so much work. 

Wow! Just saw the fire post. I am so sorry!  Any updates ? Insurance? Rebuild or sell? 

I think the market in Nashville is slowing down on the appreciation side. Houses are staying on the market longer .  I agree that investors are buying houses at ridiculously high amounts and there's no way they're cash flowing.  I am anxious to see  what will happen  in a downturn in Nashville.  I would recommend holding off on Nashville  and see what happens.  I suspect that buyers who paid too much and have no cash flow will get out and then we'll see some  decent prices again. I think buying on appreciation is Risky Business. Have I done it? Yes,  but I think it was a risky move and I did it several years ago. My goal is to have enough passive income to live off of. Appreciation is icing on the cake. 

Codes will say you cannot live in a RV unless it is on a campground . 

So Jimmy I got this friend that did what you are taking about. Codes will not allow it so my friend says be cool to the neighbors. My friend converted stuff to gas on the main house to increase Amps in the panel. My friend also happen to have a drain line in running through the backyard so "winning ". Message me if you want to meet up and speak with my friend.

 Thanks for sharing this! Super interesting. 

I am very familiar with 37216. A builder will buy that lot for 200k and put two tall and skinnies. 

I am not going to pretend to be an expert in that arena. I own small multifamilies  (4 and under). I have perused Loop net from time to time and it seems like small pickens. 

I can say with certainty no one in Nashville is going to go for an offer with a 1031 exchange clause. It just is to crazy here. I guess someone may if you are over paying for the place... I sold a house in December in 37208 and I had multiple cash offers in several days.  I was in contract with someone who after the inspection period wanted 3k in repairs. I said no went to the back up full price cash offer and closed in a week. There isn't much room in this market for negotiation. I thought about attempting a 1031 exchange with the proceeds from that sale, but didn't. It took me 4 months to find a property to buy and I had to go out to Murfreesboro. Looking back I guess I could have waited to sell until I found a property to exchange with. Honestly, I was shocked how quickly it sold. I also had a loss from a property I sold in Knoxville earlier in  2017 so I was hoping to sell in the same calender year. Good Luck.

Thank you, Amy! I am reaching out to Jeff now.