All Forum Posts by: Joseph High

@Mary Beth Lawrence 

Great options either way! Very strong rental/sales market and WeHo continues to have new development come through which adds to its desirability for tenants. Ultimately it depends on what your goals are and which option puts you closer to them.

@Elijah Jay Dangerfield 

Are you building for yourself as a personal residence, BTR development, or selling it once it's completed?

@William Allen

I misspoke - I had to brush back up on the legislation for this. 

Regular Residential NOO STRPs - for reading the Nashville.gov site, new NOO (non-owner occupied) STRPs in residential areas (single family homes or duplexes) are not allowed.

STRP Nashville Bill Passes - They will be denying permits for multi-family locations starting in 2022. 

@William Allen

What is your property zoned? They are beginning to phase out Airbnb permits in regular residentially zoned areas I believe in 2022. 

@Aalap Sharma

I'm a Realtor and an analyst for a PM company here in Nashville. STR is really hard in Nashville - even before Covid the market was getting saturated.

@Matt Wipper Not sure where that's coming from. I purchased my personal residence (representing myself) and just filled out the personal interest disclosure form. 

@Account Closed 

RT to what @Luka Milicevic said above. Haha, especially loved that description of agents. I hear it all the time from investors, "But my Realtor told me that it would rent for this much!?!?"

Find an agent that is willing to be your partner and who is invested in your success. Unfortunately, most agents are scrambling from commission to commission and can't offer the value that most investors are looking for.

A lender should be your first conversation, they will give you guidance on what type/amount of financing that you can receive. 

@Andy Pat 

Congrats on making the decision to get started in real estate! I know that it can be tough to pull the trigger.

I recently bought my first personal residence/house hack in April, but I am planning on moving out of it relatively soon and repeating the process. The Madison, Old Hickory, Hermitage areas would be great spots to check out. 

@Gerald Pitts

I recently was looking at zero-lot line and I believe the seller coordinated with the owner on the other side to repair the entire roof, but you should be able to do only 1 side. I know that time is of the essence, but I do have several contacts that might be able to give you another estimate on the roof. Both of them have given me quotes on my personal residence. 

@Chris Bowe I work for a PM here in Nashville and a big part of my job is finding properties that make sense for investors like yourself. Haha, if I had a dollar for every time I heard any investor mention they were looking for something like that, I think I could have already retired! 

I would say refinancing out of a smaller-multifamily in those Live, Work, Play areas would be pretty difficult. If you could find a property (that works) in those areas - jump on it! That being said, in many cases asset prices have already exceeded what works for a lot of investors. For example, I've seen a duplex going for over 700k near Sylvan Heights!!

The bulk of the deals that our investors have been buying are not directly in those Live, Work, Play areas, but are still conveniently located to them. The numbers work, and our tenants are close to what they enjoy about Nashville without paying the prices to be immediately there.