All Forum Posts by: Carrie Carlton

I am hesitant to invest in Clarksville because it seems to have a LOT of inventory. But I am a big fan of living in one unit while renting out the others. I think this is a route many people overlook because they have a mental barrier to other people living in their space. My husband was against it but I finally talked him into it 4 years ago and now we have not had to pay a mortgage (and utilities) in the last 3 places we have lived. You also can get owner financing and pay less capital gains when you sell. I am a huge saver so I "pay myself first " meaning I pay rent to my savings account every month even though I don't have to because stuff breaks. I applaud this idea but would get more info on vacancies and rental rates for Clarksville.  I invest in Nashville and I know the rental rates are lower in Clarksville.  I am seeing rent rates in Nashville starting to soften so I would also consider this.

This post is a year old, but I completely identify with the original post. I have a 6 figure job in pharmacy and hate it. I finally paid off my student loans late last year. What a relief! I have a decent size portfolio of rentals. I cash flow ok. I want to walk away from pharmacy so bad. I feel like I am mediocre at both jobs.  I have passion for RE. I never thought I would find a job that I would truly be passionate for. It is scary to walk away from the day job. It is not probably reversible if I do because they are pumping out new grad pharmacist exponentially.  I have this gut feeling that I will do well if I just make the leap. 

Thanks for sharing with the community! 

I have 3 Airbnbs in East Nashville.  You can get good money from March to October but the other months I am happy to cover cost. I would recommend going to the Davidson county codes website and educate yourself on  both the taxes that have to be paid and permit availability.  The taxes alone can eat away any profit. Airbnb is a short term game in my mind. I will ride the wave, but it is getting more saturated every year and more hotels going up increase competition.  Not to mention it can be a real management headache. I kinda can't wait to get out honestly, but won't do until the profit is not there. I bought my properties years before the boom, and would find it hard to see the profit potential at current prices. The closer to downtown the better as far as profit.

Do you not think that if the high end market is saturated that will cause vacancies and drive the rents down everywhere? 

I have a single family in East Nashville that I have been giving serious thought of selling for that reason. Thanks for your insight. Would love to chat with you and your partner if you have time! 

I have my entire portfolio invested in the Nashville area. It is a mixture of single and multifamily.  I would like to start a discussion on the incredible increase in inventory of new build condos. I realize someone will respond that " if you buy at a good price and cash flow you will be fine" . I agree with this. My intent is to start a discussion on over supply. I feel the market is at a tipping point. I would like someone to offer their wisdom on how other markets have faired after over supply creeps in and meteoric rises in appreciation and rents have passed. One can make the arguement that we have a lot of people moving in, but eventually supply will catch up. There are many house and corners where one or two houses were and condos are going  in.  Infill one would say. This greatly affects supply. I am starting to see rent prices cooling a bit already. I am ambivalent about selling because I have no idea where I would reinvest, but have anxiety that the market will crash and I should have sold. What do ya'll experience?  Thanks community! 

I looked over there about a year ago. I liked the proximity to downtown, but I just didn't feel like it was a place I would want to manage and collect rent from. I have properties in North Nashville and East Nashville before they were considered hip. But I just did not get the same feeling with the Napier area.  I drove over there last month and noticed there are new builds there. So someone is trying it out. I think the density and proximity of public housing makes it a difficult area to gentrify.

I started buying SFR and multi in 2013. All of them have turned into 2%. I picked up a duplex earlier this year after rehab will be a 1% deal. Truthfully, I have decided to stay out of the buying side for a while. This market is insane and I have focused on refinancing my mortgages. It is a competitive time to start out. Good luck!

Interesting idea. Can I ask where the propery is located? Can you ask for higher rent or a lower price? I believe instant equity and/or appreciation is the plan, which is speculative. I would ask for a concrete timeline. Just based on the numbers you present it does not seem great, but depending on the area... Who does repairs?  Hopefully there are not any, but a question to ask.