All Forum Posts by: Jeffrey Naron

 Thankso Anne! I'll give them.a shout if needed.  Thanks 

Nashville is hot, but there deals to be had.  That's the difference between denver and nash 

You mean looking for the next Denver?  hottest market in the country and it sucks trying to invest here.  Overpriced property, slim margins, insane competition...

nice, so we have about 70k cash right now, so it sounds like we could pull of a build instead of buying a finished HPR and increase our return.  Thanks for the information @Brandon Brown!

@Brandon 

@Brandon Brown Thanks so much for the information and lender recommendations.  If you don't mind me asking, how much are your all in costs?  I have a developer in CO that I've worked with on some flips and I'm considering floating the idea to him.  I have met up with a broker that seems very knowledgeable and specialized in these HPRs and lot deals.  I've seen some construction loans, but they want you to own the land free and clear, before loaning money to build (understandably).  Just curious is this is the same situation that you encountered.

Feel free to message me privately.

Seems fairly tough to be in a position to buy the lot free and clear, then fund the builds and associated carrying costs.  Have you done a lot deal where u built 2 HPR'S?  Have a idea on construction costs?  Assuming an average 1900-2000 Sq ft tall and skinny.

Thanks for the input @Luka Milicevic and @Josh Braun!

Yeah I'm looking at the permit information right now and the 3% non-owner occupied cap that is in place.  In east nashville there appear to be 12 still available and when added to the 15.25% hotel tax makes it a lot less appealing.  

Very interesting to see how many entire house rentals there are for rent that are available more than 300 days a year in that area... no way 75% of those rentals are even legal.

Hello Nashville Investors,

I'm new to the Nashville market, but I have a friend that has relocated out there about a year ago and we're considering purchasing one of these new construction, tall and skinny's close to downtown.

I am new to the HPR (Horizontal Property Regime) concept and wanted to see if any of you that invest regularly in the Nashville market have any experience with these.  I understand the liability of the common areas and know there needs to be insurance in place, but are there any other unforeseen issues any of you know about?

My strategy is short term rentals through the popular websites that specialize in short term rentals.  There seems to be a high demand for short term rentals and if Nashville is anything like the Denver market, getting in on property close to downtown before it becomes cost prohibitive seems like a good move for appreciation.

I welcome all comments regarding Nashville investing in addition to the HPR concept.  Thanks in advance for the feedback!

-Jeff

(BTW, I live in Denver and am looking for markets outside of Denver that might be a little earlier in the market cycle where good deals can still be had in a high demand market)