All Forum Posts by: Dave Villa

My friend and I are securing an off market property in Cincinnati and we are trying to decide if we want to wholesale or flip. Here are the questions we would love to get clarity on:

1. If we get the property (for a flip) under market value will a lender lend off of the appraised value? Meaning we could potentially put in little to no money?

2. If we wholesale what fees do we pay? I don’t think realtor fees?

3. If we wholesale how much instant equity should we leave to be appealing for an investor to buy into - 10%, 20%?

Hi All,

I have a property that is under market rent. Tenants have been good tenants for the past 3 years. They started paying $1500 and are now at $1850, market rents suggest around $2300 - rents have risen drastically in Nashville in the past few years. I value good tenants but I feel that there’s a good bit of difference between current rent and market. A $500 increase in rent seems steep, any suggestions on how to offer their next lease? I have a management company actively managing the property so I don’t have direct communication with tenants. Thank you. 

@Anthony Phillips

I would look up the Short Term Shop run by Avery Christy. They have great resources and specialize in short term rentals and helping investors find them - they have data on different cities and their cities have a nice range of point of entry as far as price

@Danielle Tran

Hey Danielle, this is a great idea! I did the same thing in Nashville with a townhouse. I think the most important thing is to calculate HOA cost vs what you would be saving in payment every month.

If you buy a place and rent the rooms and pay $1,000 less than you are now, than that’s a big win. Mine saved me about $1,000 a month and after a year in a half I have an extra $20k to put towards another property just by changing my living situation.

One thing I would suggest what is the goal - do you want to save X amount? Do you want to have less stress of payment for a few years? Do you want to position yourself in 2 years to buy another property/do a 1031 into another property? Hope this helps!

Having a bit of analysis paralysis finding an str market with purchase price range of 200k-400k. I was going to do a 1031 and get into the Smoky Mountain area but ultimately decided not to since I have a 1099 job and enjoy the steady cashflow from my current long term rentals.

So I’m pivoting to a lower purchase price and struggling to find a good market - Blue Ridge, GA seems interesting but I’ve heard mixed reviews. Any suggestions of other markets worth analyzing?

Heavily considering doing a 1031 exchange and buying in the smoky mountain area for a short term rental, does anyone have any good management recommendations?

Hi All, heavily considering doing a 1031 and purchasing in the smoky mountain area. I’m crunching numbers but also looking at management companies - anyone have any good suggestions?

I’ve been interested/looking into turnkey rentals in Memphis as my Nashville market has become quite pricey. Does anyone have any good resources/info regarding the Memphis market?

Hi all, I have two properties in Nashville, TN and like many other cities with high appreciation, I’m finally priced out. I’ve been looking at neighboring cities and multifamily property at or below the median but the market for multi family in general seems very thin.

With that said, I’m in the very early stages of looking at a third property and wondering if I should look into single family homes instead? Love the idea of more doors and more cashflow but barrier of entry seems tough at the moment and I don’t want to wait to buy especially since my strategy is to buy and hold for long term. Would love a fresh perspective.

@Brandon K Moore

I would echo this point. As an investor in Nashville, cash flow is tough as well as competition as it’s become a hot spot, but neighboring cities outside of Nashville have much better entry prices and a strong rental market. As a native of Phoenix, I would imagine a very similar scenario as it was one of the top appreciating cities in the country this past year.