All Forum Posts by: Josh Braun

@Juliette V. - Agree with Tom about Smyrna and Murfreesboro.  I'd also say parts of LaVergne have potential as well.  I like everything south of Nashville, really.  Thompson Station, Spring Hill and Columbia have a country feel and are really close to the interstate. 

Welcome, @Nathan Wandell!  If your house is in the Columbia/Spring Hill area, then thats a good market in my opinion.  Lots of folks buying/renting there because prices are cheaper than Nashville and they commute to Cool Springs/Franklin/Nashville.  

Biggest advice I'd give is to make sure to plan for the unexpected. Whenever I have a property ready to rent, I also have at least 3 months PITI reserved and then I also take out 12% for vacancy, 10% for capital improvements and 10% maintenance every month when rented. Some might say that is a little conservative, but it allows me to sleep at night :)

@Gino Barbaro - any recommendations on property management companies in Knoxville?

Welcome!

Hello BP members. I've got a property valued at $90,000. I borrowed $70,000 cash to buy and rehab the property. Short term loan from friend. Now I need to pay the 70k back. My goal is to continue doing this a few times until I don't have to borrow cash anymore and can use my own funds or line of credit. I will be renting this property out. Thoughts on doing a cash out refinance, HELOC or home equity loan or other creative strategies? Pros/cons of each?

Welcome, Christian!  Nashville is a hot market right now. I'd highly recommend establishing a few neighborhoods/parts of town you are interested in.  Learn those areas and start keeping an eye out for houses that are bought and sold in those areas.  Understand your market and establish your goals (i.e. do you want to fix and flip or buy and hold, do you want to do single family houses, duplex, multiunits, etc.)

Welcome Chris!

Congrats on a very creative way to getting it done!

@Jordan Parker - I've always found it best to spend a weekend driving around a 10 mile radius of where I currently live.  Get familiar with the names of roads, subdivisions, etc.  That way whenever you hear of or see those names, you know exactly where they are.  Then monitor listings, rental prices, for sale/rent signs and ads for those areas.

Once you get familiar, expand out to 20 mile radius.  I like to buy close to my home base and I'm starting to expand out to other areas now.  

Welcome, Michael! Always good to see folks from Nashville on here!

Welcome, Jordan!  Best advice is to just dive right in. Start analyzing deals in the neighborhoods you know about.  The BP community is a great resource to help you learn along the way.