All Forum Posts by: David Goodman

hey meredith - I'd like to see your work! Shoot me a message!

Hi Denis - Welcome. I'm local to your area. Happy to share resources with you if needed.

We give our clients a few different good options and lately our client's have been independently going with Lease Killers every time. I've been impressed with them! 

You don't have to invest directly in Nashville/Davidson county to benefit from the Nashville Market. Our market extends beyond Davidson county into the different orbiting suburbs. The best way to get started here (or anywhere) is to start by purchasing your own primary home because it's easier to qualify for the loan and it gives you a chance to build equity and you can purchase more house with a lower down payment. Rent out rooms while you live here. Rooms for rent for $1000 or less are in high demand. 

If you can't afford Nashville proper, my next suggestion would be to check out one of the university markets orbiting Nashville. Murfreesboro (MTSU) and Clarksville (Austin Peay).

Hope that helps

I think it's really smart to get advice. I'd be happy to connect you directly to my client's at different price points who've made the jump into a primary with hope of doing owner occupied airbnb. Sending you a dm :) 

They are all doing well (in various locations) because they have educated themselves in the space and are treating it like a business. My personal risk assessment that I suggest to my clients would look at a worst case scenario of long term rent (12 month lease), furnished medium (30 days or more), and for short term. A short term basement or garage apartment can absolutely pay a $3200 mortgage. That same apartment will fetch you about $1k/month as a long term rental (utilities included).

So in short - The worst case is you rent the space long term. I don't think you run the risk of not being able to fill that vacancy because rental demand for a $1k apartment is very high with very low inventory for that rental price point.

Hope that helps!

@Kristoffer Bergen zillow, realtracs, and facebook market place. Facebook market place***

Thanks for your question. I work in the Nashville market specifically. 

I like Nashville because of our well rounded economy. We are a strong business and recreation economy. 

As you alluded to, we're seeing that Eastern Tennessee is getting very saturated and that the price for home very rarely makes sense for what you can expect in revenue in years 1,2, or even 3. In Nashville we have city ordinances and zoning to think about. I don't necessarily think this is all bad because it has helped reduce the likelihood of over saturation compared to other markets like Pheonix, Arizona or some parts of Easter Tennessee.

That being said, most of what we're seeing on the market in Nashville that is zoned correctly is also overpriced however my team includes myself and a former high level short term rental manager (300+ Units) in Nashville that assists my clients in finding the absolute best deals on and off the market. A Short term rental eligible property is almost the "creme-de-la-creme" property. It's only going to continue to appreciate and you'll have alot of options on what to do with it because of the zoning.

It sounds like you've got other reasons beyond just the cashflow to make the move.

I've got some recommendations as well. Happy to connect you when you've identified a property. 

We're seeing

Hey Brendan - Here's a resource for finding non owner occupied short term rentals. https://dlgoodmanproperties.com/short-term-retnal-resources/ 

Elligible properties are primarily new built. The market rents on these vs. what you can expect in gross str income is no bueno.

Is there a way for you to relocate to Nashville first and then start the str dream? I say this because it's much easier to do owner occupied short term rentals. Less restrictions and a smaller price tag on the properties as they don't have the special zoning value. For example you could house hack a duplex in east nashville with a basement. Live in the basement and rent out the 2 top units on airbnb. Your rental income on the duplex would be double what you could get with a standard long term rental. Build from there.

welcome