All Forum Posts by: David Goodman

I wouldn't be concerned about flooding in The Nations. I'd be more concerned with the fact that most of the newer build properties in that area are HPR (multiple houses on 1 lot), and in Nashville you are unable to do owner occupied short term rentals in 1 of those houses if you only own and occupy 1. You HAVE to own all of the houses on that lot. 

For example if there are two $700k 4/4 houses on 1 lot, you would have to purchase both properties for a total of $1,400,000 and live in 1 of those properties. The city considers these 2 houses as 1 lot/2 units. 

If you are able to that - The Nations would be a GREAT area. There are way more of these buy 2 houses on 1 lot opportunities available right now due to the high interest rates and builders who are willing to drop their price to move on from the liability.

If this isn't in your price range. I'd suggest looking into the "hip" Donelson area and doing an airbnb basement hack. My clients are doing well in this area with this strategy. +near the airport, +near bars +near breweries, + restaurants +near the city

Hope that helps!

There are a few posts in the past on this subject. 1960's brick ranches with basements. Best deals for your money are in Hermitage and Madison. If you want a place that you'll enjoy living but higher price check out Donelson. :)

I'm looking for 3+ units or 2 units with extra space to make 3 anywhere near the city center. These are rare but exist in neighborhoods close to the city which also makes them very close to all major hospitals and universities. Fixing them up and targeting young professionals and grad students who want to be close to the city and a smaller 2/1 apartment near the city.

Cashflow possible even with todays interest rates. When (if) rates go down, icing on the cake.

 If you are furnished you could market it to traveling nurses for sure. You'll likely pull a few hundred extra dollars and will will get shorter leases that could work better for your traveling. No issue with the city since lease is 30+ days.

I just had an appraiser come back $114k less than asking price price on a cash flowing quad in west nashville. First time it's happened in 2 years for me.

 Yup. Sent you a dm

 That's what I'm talking about!

A good realtor with on/off market resources and a lot of courage is what it's going to take. The margin will be tight on your first one, but multiple exit strategies will help. If you would have bought something last year, you'd have equity by this point even if you did nothing to it. Eventually you just have to pull the trigger or consider another market. Good luck sir!

Hey yall

I'm finally seeing some inventory on the market! A client of mine found a great east Nashville development going up for a good price. 4/4 townhome listed around $735k in a great part of Nashville. Although we love the price, his interest rate is killing the deal. What are some financing strategies that you are using to increase cashflow during this high interest rate environment? As they say, we want to "buy the price - date the rate."

Any ideas?

Real estate - one of the most open places where racism lives loud and proud... Wish I could say this was an uncommon problem from both tenants and owners. Glad you're taking it seriously. Good luck.