All Forum Posts by: Lucas Bernard

Update, confirmed with the city and it is legitimate if the property is in the name of the LLC, and the LLC is grandfathered in before restrictions were put into place. After doing this due diligence, I would confirm with the city first, appreciate the help!

Hey Folks!

Looking at a property that would be a somewhat turnkey STR, it has great numbers and occupancy rates. Catch is ... it is zoned at RM20-A, which for those of you keeping score at home, is apparently not eligible for a Non owner occupied STR. However, the LLC is grandfathered in, and so they are saying we would be able to still operate this if we purchased and managed under the LLC.

Obviously a lot going on here, and I am still relatively new to this world (would be first STR in Nash). Those assumptions above may not even be entirely accurate, that's just what I've been told plus what I've deciphered from the zoning table. Any tips you could give me on this in terms of viability? Willing to go the extra mile here based on the numbers.

Thanks!!

Hello All!

Looking at a property on Meharry blv close to the hospital. I have boots on the ground (my business partner & agent) who informed me of the rough state the neighborhood is in. However, these are the best numbers I've seen in a while in this market. It's fully furnished and turnkey. It performed well last year and has a proven track record. Crime is a concern, but I'm thinking with the appropriate limited liability and insurance structure this could provide a reasonable shield.

My question to you is ... just how bad is this area? Can I expect more development / gentrification to occur in this area? What should I expect with managing a STR around Meharry?

Many thanks!

Lucas