All Forum Posts by: David Wright

If your numbers are good and you can create cash flow from the other side, I think this sounds like a good investment. Your timing is very good, interest rates haven't been this low in more than 2 years, and the best minds are saying the pullback next year will be mild, maybe 5% to 10% max nationwide.

@Nick Seginowich I am of the opinion if they can help yes. If you already have systems in place in contracting and bringing to close the off-market property the realtor probably won't be of much help. However, the realtor might assist you with comps and listing it if you wish to sell or rent.

@Tyler Mau, it's a year later after your first post about rentals in East Nashville, Vandy & Belmont. The only change since last year is prices have gone up and good deals are harder to come by than before! Next year may be a little different with the slowing economy with anticipation of softer prices. Nashville is such a strong market, has been for decades, because of its economic diversification.

What are your intentions for this property, rent, sell, wrap loan to a buyer? Congratulations on using Subject 2. 

Lance it all depends on your neighborhood and price point. Some subdivisions, as well as rental rates, will increase in value with the addition of a bedroom. Other areas in the same town may have no added value whatsoever. Either you or your Realtor® should undertake a CMA, Comparative Market Analysis, to see what your neighborhood says about like houses in the number of bedrooms, style, age, size, and condition.

As an added note, for a room to qualify as a bedroom, it must have more than one exit i.e., 2 doors or a door and a window. Closets do not define bedrooms. A room in a basement having a closet but only 1 entry is not considered a bedroom.

I think you will be impressed John. Many very smart investors here who are most willing to share and a whole host of top-notch vendors too. Do check out http://www.reintn.org/ if you haven't already. Looking forward to meeting you soon.

Welcome to Nashville John! One of the fastest-growing communities in the US. REIN is the largest investor group here and has several subgroups that meet regularly as well, something every week. Also, there is TNREI meetup - TN Real Estate Investors meets every Monday at the Sportsmans Lodge at 1640 Westgate Cir. in Brentwood, open and free to members and 1st-time guests.

@Breyan Lallas

Watch those local laws like a hawk. Nashville has outlawed this year all future absentee owners for Short Term Rentals except in the commercial district downtown. Current absentee owners will be forced to stop short-term rentals when their permits expire in 2 years. This has turned the city upside down in the rental business.