All Forum Posts by: Conner Bland

Find someone through networking events or forums that is doing what you want to do for yourself. Go buy them as much lunch and coffee as it take to figure out their systems and how you can implement/replicate their systems WITH them or on your own deals! Good ideas are invented, but great ideas are stolen!

Happy Investing!

As of right now, you are still able to gain an STRP both as owner occupied or as non-owner occupied, but there are certain restrictions on obtaining these permits. The most important thing to note with a non-owner occupied permit is the zoning of the property. I recommend looking for a DTC zoned property if pursuing non-owner occupied STRP.

Feel free to refer to these two guides for more info on requirements - 

https://www.nashville.gov/Codes-Administration/Short-Term-Rentals.aspx
https://www.nashville.gov/Codes-Administration/Short-Term-Rentals/Permit-Types.aspx

Also, David Frabutt works exclusively with STRP's in the Metro office and is a lot of help with specific questions you may have. I would recommend calling Metro directly and obtaining his email address.

3 quick notes - if you want to advertise for big parties for CMA, just note that you can only advertise a maximum of 12 guests per property according to Metro. Also, the supply of AirBNB listings are up 70% year over year, so plan on your rental incomes to decrease as more and more hotels and AirBNB operators increase the supply of accommodations and drive down prices. Lastly, the city has tried to ban all STRP's multiple times and has put freezes on all STRP requests multiples times in the last 24 months. The point being that even though you may be able to obtain a permit today, the legality of operating a STR in Nashville could change overnight, so always have a plan if something outside of your control takes away your ability to short-term rent.

Other than that, rent away! It's a money maker in Nashville!

Cheers!

Conner

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $279,500
Cash invested: $3,000

Short-term Rental Property that generated $51,058.80 in short-term rental incomes as well as appreciated 9.7% in 13 months. This property returned a 16.68% annualized return for 13 months.

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $280,000

Short-term Rental Property that generated $31,700.42 in short-term rental incomes as well as appreciated 10.7% in 11 months. This property returned a 12.35% annualized return for 11 months.

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $285,000
Cash invested: $12,000

Short-term Rental property that has generated $134,300 in short-term rental incomes as well as appreciated 51.51% in 20 months. This property has return a 27.13% annualized rate of return over the last 20 months.

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $259,900
Cash invested: $3,000

Short-term Rental property that has generated $93,513 in short-term rental incomes as well as appreciated 17.91% in 21 months. This property has return a 20.32% annualized rate of return over the last 21 months.

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $245,000
Cash invested: $10,000

Short-term Rental property that has generated $112,903 in short-term rental incomes as well as appreciated 21.56% in 24 months. This property has return a 22.13% annualized rate of return over the last 24 months.

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $249,000
Cash invested: $4,000

Short-term Rental property that has generated $128,342 in short-term rental incomes as well as appreciated 22.52% in 28 months. This property has return a 21.74% annualized rate of return over the last 28 months.

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $230,000
Cash invested: $2,500

Short-term Rental property that has generated $138,270 in short-term rental incomes as well as appreciated 34.7% in 32 months. This property has return a 22.3% annualized rate of return over the last 32 months.

Investment Info:

Single-family residence buy & hold investment in Nashville.

Purchase price: $213,999
Cash invested: $8,500
Sale price: $285,000

Short-term Rental Property that generated $131,328 in short-term rental incomes as well as appreciated 26% in 30 months. This property returned a 34.92% annualized return for 30 months.