All Forum Posts by: Jarrett King

Wow this is a great flip! Congrats Mitchell!

Wow! Congrats on a great deal! Like they say, you can't get lucky if you aren't playing the game. Learned a lot and made cash in the end. Best of luck going forward!

Welcome Jason. I'm from Atlanta and have been looking in Atlanta as well for multifamily projects. I've found a good number of potential multifamily properties on the west side. Check there, obviously close to the Belt Line. 

Congrats on sticking it out man! That's a big accomplishment and only right for it to happen on your birthday. Big shout out to your gf too. My wife has been holding me down and she's been a major part of why I keep going so your gf deserves some props as well. 

Great response Devan Mcclish and I agree mostly with it. Although I haven't done a deal yet, I just purchased a home in East Nashville and agree that it is one of the few "affordable" areas in Nashville, which again is relative. I think the ~$300k home is becoming a new normal in Nashville as the affordable price point. Everything I've seen built around that point is bought fairly quickly. The sub $300 price point is becoming a difficult price point to build at in the core. Bellevue may be another market to look towards for that. The development of One Bellevue Place is sure to attract families to the area. Overall on their market, I can speak from the commercial lending side. We see Nashville's fundamentals and agree we don't see a crash coming. Most people are thinking about 2008. Remember that is a once in a generation crash. A correction is what will most likely happen. We're seeing it now in the Class A+ apartments space, especially in Germantown where rent concessions are everywhere now. That's the only sector we think has gotten two hot, primarily driven by out of town developers chasing yield in hot markets like Nashville and Austin. But, so long as jobs keep coming and people keep coming (100+ a day), places to live will be needed. Considering millennials are moving here the most, apartments and affordable housing will continue to be a major need.

Great recap Luka Milicevic! Although I wasn't there I can agree. Working on the lending side of commercial real estate, the multifamily product type has banks on pause around town due mostly to the high rents and oversupply. Germantown alone for example had roughly 3500 units either under construction or being delivered last month. I know my group has stopped lending multifamily in Nashville altogether but nobody knows how to solve the affordability issue. It was be interesting but a city with very little sub-$300k housing is not a sustainable one in my opinion.

Welcome Jon! Those are the markets I'm looking at as well. I'm from Atlanta so I know it well but live in Nashville. I haven't nailed one down yet but I'd definitely like to talk more and we can discuss strategy and thought processes a little if that works for you. Good luck and welcome to BP! Jarrett

I've never been the jealous type until this post! Congrats man! This is major. I'm still working on my first but it's always great to see success stories such as this one. Keep up the good work!

Hello BP! I just realized I never formally introduced myself. I'm Jarrett! I've lurked here for a while and actually connected with a couple of people, also listening to the podcast. Even got my wife hooked on the podcasts! I work in commercial real estate lending as a portfolio manager, so I'm fairly experienced underwriting commercial real estate, but residential is a different game. I'm slowly building a team and figured it would be a good time to get more involved with BP. We're looking at wholesaling, buy and holds, and flips/new construction. Obviously they are three different strategies, but we figured through wholesaling, we can filter whether it would be a good property to keep for ourselves or wholesale and let someone else take a shot at making money on it. 

I would love to meet and network with anybody that is available! Let's make something happen!

Jarrett