All Forum Posts by: Devan Mcclish

@Chino Perez I have extensive knowledge on Nashville STRs and I own them and we manage 17 of them at this time for others. Yes you can own and operate one if you are out of state. You will need to find one on the property non owner occupied zoning: CS, CN, CL, MUL, MUN, RM, OR. RM is however going away in 2022 but if you have a permit it's grandfathered in just not transferable. They are definitely worth it just as long as you're not overpaying which in my opinion is what a lot of people are doing. I would stay away from 1 bedrooms personally, you're essentially competing with a hotel room. The sweet spot would be a 3-4 bedroom. We have units that gross all over the board but some because of the location and product over 9k a month. Would love to speak more with you about STRs!

@Chino Perez Sending you a PM!

@Account Closed I own a 14 unit building in Madison we are renovating right now. We also manage 2 other units in Madison. I really like Madison. You can build very cheap, affordable units. You're also outside of the UZO so any type of sidewalk impact fee is ruled out. Madison you can still buy cheaper dirt and have rental rates that will get you to that 1% rule per se. If you build, you're cap ex and ongoing maintenance is very little if at all any. Now is the time to pull the trigger on Madison as renovation projects have been and are continuing to move in the area which will start driving prices up. Also just FYI, Madison "turn key" renovated duplexes I see are going for low to mid 200s. 112k per door is pretty good for that area now

@Ben Parrish We manage several single family homes in Murfreesboro and have no problem. Obviously wouldn't recommend buying in a market that is saturated but as of now we have no problem placing or keeping good tenants. Just speaking from my experience managing rentals in the area, not statistical analysis 

@Charlie Shew Sounds like a good plan. Nashville is tough with the prices being where they are. You might want to consider Dickson, Murfreesboro, Antioch, Hermitage, Goodlettsville or another suburb of Nashville. If you need property management let me know! 

@Allison Mahoney commercial. Target - in west nashville. Publix - west nashville. Starbucks - almost all of them are located downtown or west nashville. Chick Fila - west nashville. These other areas of town are cool and hip, but I will always recommend buying where the guys with 20 year leases or longer are going to play with higher income demographics

@Bri Clark Yes roommates. No we do not. You can up to 4 unrelated parties in a home together. Most of our rental properties are 2-3 bedrooms with 2-3 friends moving in together

@Allison Mahoney I manage properties in Nashville for other people. I would strongly recommend SFHs or a 2/2 - 3/2 unit. 1 beds and 2/1s are hard to rent. A lot of people are renting together so they all want their own bathrooms. I also prefer the west side of town and the wedgewood area vs. east or north when it comes to rental property. 

@Kyle Ashmore Sending you PM

@Chris Clothier I am asking people ahead of time. Feel free to come