All Forum Posts by: Devan Mcclish

I am looking for a commercial broker in Nashville. Does anyone know any commercial brokers in Nashville, TN that specialize in multifamily buildings 

@kate areas like east nashville, nations, inglewood are great to invest in if you are able to get something cheap enough. The problem with Nashville is that prices have been driven up to a point where there's not a lot of deals. However there are still deals out there. A few investors I know have started to make the push into madison extending east nashville. And Bellevue should quickly become a hot spot seeing as those two areas are closer to downtown and close to the revitalization. Plus, Bellevue is getting a new mall, should attract more people to the area. Hope this helps. Would love to talk more with you!

I've verified the taxes at $895. the insurance I will have to double check on. The management fee in my area with a lot of managers is 10% there is not much I can do about that

I've always been told expenses are half the gross rents. the 5k is a conservative figure in case we miss something during inspection of the building. 

The biggest concern I have is that it's in a very small town, where there are no other rentals that have hit the market. Most leases in the area are week to week basis from the information I have gathered from realtors in the area. 

This is my first multifamily deal, so any advice on the numbers would be much appreciated!

Purchase price: 60k 

Financing: conventional loan 20% down, 48k being financed over 15 year am at 5% interest = 379.58 a month 

rent is $400 a unit, 3 units = $1200 a month = $14,400 a year

expenses: $7,800

Property management: 10% of gross rent

Vacancy: 10%

all utilities will be paid by the tenants. 

Property does not need hardly any work. Brand new roof, water heater, floors have been redone, new appliances in each unit, and it has been painted. I have still included 5k in repairs to be conservative.

you should come to the rein meeting tonight. There will be several there

welcome to bp! What are you doing in Nashville? Are you buying? Wholesaling?

Seth, pm me so I can get your contact info

Seth, what's your asking price? I'm a cash buyer in nashville

welcome to bp Titus!!