All Forum Posts by: Jaden Cook

Thanks everyone. We've reached out to the builder and are chatting with them. Looks like the only models built aren't exactly what we are looking for, but I appreciate all the advice on the different areas!

Thanks everyone for the great responses, this has been very helpful! I apologize for being slow to respond. I think I'm realizing how wild the market is currently. We'll see a house that matches what we are looking for and its gone the next day. We have our pre-approval and are ready go given the right opportunity, but neither my wife or feel totally comfortable jumping in without seeing the areas. We'll be there in April for about a week, and will definitely reach out once we are closer. Looking forward to moving to Nashville, we keep hearing wonderful things. 

Hello again everyone! In our search for a house for the next 4 years that may possibly turn into a rental after that, we've noticed a new development going in North West Nashville. The crossing at Drakes Branch by Smith Douglas Homes. Here is a Zillow Link https://www.zillow.com/communi... (I'm not affiliated with this company in any way). Does anyone have experience with Smith Douglas Homes? Or know much about this particular area? We will be visiting Nashville to look at places in April, so we'll be able to see things in person, but curious if anyone has any good information on them. 

For our goals, the price is right and it is close enough to Vanderbilt University Medical Center. A few concerns I have that I will be contacting them about: 1. HOA fees 2. HOA restriction on renting in case we decide to rent after moving in around 4 years 3. Build quality. Any thing else you qould advise looking into when reviewing new construction, or this area in particular?

Thanks everyone! 

Hi everyone! This is going to be a bit of a brain dump, I appreciate any help!...

 I'm moving to Nashville to begin residency at the Vanderbilt Medical center. My original plan was to simply rent, but my dad has proposed the idea of a joint venture. Me and my wife and 3 kids will be living in the home for a minimum of 4 years, after which point we would consider either selling or holding long term as a rental. The budget is currently at about $315,000 (this would be the top and wouldn't be able to do updates/repairs if we purchased at this price). We are planning a standard 20% down loan, but have also thought about using a physician loan, or fha 203k if we find something that we could force some equity through repairs/updates. I've been researching areas within about 25 minutes of Vanderbilt, and have landed on a few areas: 1. Bellevue 2. Donelson 3. Hermitage 4. Goodlettsville 5. Brentwood (or the area between Brentwood and Antioch). Does anyone have any advice on these areas? Or are there any other areas we should be considering in our price range and future goals? I've heard the crime is a little high in places like Madison, or areas north of Nashville, is this accurate?

This would be a first for me and my dad, as neither of us has purchased a rental before. Trying to learn how to analyze properties has lead me to the (maybe incorrect) conclusion that many homes on the market in these areas won't cash flow well if used as a rental. Any thoughts on this? Or things we should be considering? Also, it seems houses are selling extremely fast, often above the asking price. I've always thought this was a sign the market might be a bit overvalued. I know Nashville has been growing like crazy, and no one has a crystal ball, but any thoughts on the general state of the market in Nashville and potential action into the next few years?

Also, I'm still open to the idea of renting, so if anyone has any leads on a landlord who would like some residents with a great credit score, no pets, and never party, I'd love to hear! 

Thanks everyone!!

Hi everyone, I begin residency this summer in Nashville. My wife and I were planning on renting, and this is still the most likely scenario. Recently my parents proposed the idea of them purchasing a home that we would live in for the 4 years. We would cover the monthly expenses, and they would cover any repairs that came up. At the end up 4 years they would decide what to do from there, likely sell if profitable or consider renting. The loan would be a conventional 20%, there is a property that will be sold, and possibly they would 1031 some of the profit into the down payment. 

I casually listen to the podcast and read the blog postings. I plan to become involved in real estate at some point after residency. But now that this possibility has come up it has got me wondering if pursued, what would be the best way to go about it. 

Does anyone have any thoughts regarding this arrangement? Any thoughts about alternative ways to arrange the deal, or make better use of the full downpayment? - perhaps some sort of low downpayment with use of the remaining downpayment for improvements/forced equity?

Perhaps the best/easiest thing is to rent and all this is just a thought experiment, but I'm curious to hear people's opinions. Any thoughts I'd be very grateful! Thanks!

 Nice to meet you Derek. Happy to see there are quite a few Utahns around these parts. 

Thanks!

Hi everyone! What a great website! I stumbled upon BiggerPockets while browsing the web for budgeting ideas. My name is Jaden. I currently live in northern Utah. I am a 24 yr old senior in college and will be graduating in the Spring.  My interest in real estate grows out of my current reevaluation of my career plans. As a brief bio, I have about a year before starting medical school. I have had to write many essays about "why medicine?". This process has caused me to pause and make sure my love of medicine is sufficient for what it will entail. Brief calculations put me in to my 40's before I am on the road to financial independence. The time between now and financial independence will be filled with extensive time away from family/hobbies/etc. Long story short, I am trying to determine if my goals of being a good father/financial independence/time to serve in the community can be fulfilled in another way besides medicine, while at the same time me being OK with not doing medicine. For those of you who are physicians, I'm sure you understand my current situation. Kudos to all your hard work!

With that background, I turn to BiggerPockets for some insight into the real estate investing world. While I have loved medicine, it doesn't quite get me excited like real estate and entrepreneurship. I ran two small (tiny) businesses in high school and I loved it. If in the end I decided to opt out of medicine, I would enthusiastically begin investing in real estate. There is plenty of highly promising/almost magical real estate investing ideas out there for beginner like me, but I tend to be very weary of things that appear too good to be true (science background here, I've been trained to be skeptical). Browsing this forum I have seen much more concrete ideas that I could take hold of, work my tail off, and find success. Thanks for reading this long post! I'm happy to be here!