All Forum Posts by: Mat Farmer

Hello Nashville REI community. I'm relatively new to the area, but have been an active investor all over the Dallas/Fort Worth market in the past. Before getting to the meat of my question, I'd like to clarify that I do not represent or share any affiliation with any of the websites below (though I have benefited greatly from the use of them in the past).

So my question is, what websites tend to be primarily used in the Nashville community for sourcing off-market (or even listed) investment deals?  The ones I know of and have utilized quite effectively in DFW are:

1. This one...bigger pockets - specifically the BP Marketplace

2. myhousedeals.com

3. investorblock.com

4. connectedinvestors.com

5. Lastly - The various local Facebook groups

Are there any others out there I should be aware of?  I have yet to find anything NEAR as active in Nashville as I am used to, which is why I'm reaching out to my fellow BPers.  I would love all of your feedback.  Thanks!

@Mark Hower  Can you clarify?  I'm assuming what you are meaning is that "all investor-owned STRP* will be outlawed."

@Catherine Aubale Epstein I did not know biggerpockets frowned upon posting phone numbers...I guess I have accidentally broken that rule in the past. That being the case, would you mind reaching out to me via email and then we can trade info better? My email is mat.farmer@newwestern dot com.

I have already taken the state exam. Just looking to get it with a broker before I make the move full time.

@Catherine Aubale Epstein   Thanks for the reply.  I'd love to set up a phone call if possible (trying to handle as much of this from Texas as possible at the moment).  Are you open to setting something up?  Thanks. 

I don't know if this is the correct forum for this, but here goes...

I am currently a licensed Realtor in Texas (operating in the Dallas/Fort Worth area). I dabble in all facets of SFR, but mostly work on personal investments and represent other investors. Some time in mid to late spring 2017, my wife, son and I will be relocating to Nashville and I will work to recreate what I have done here. So the point of my post - I am looking for a Broker in the Nashville area to park my license at. I want to start learning the area via direct access to the MLS as soon as possible, and do not need to be set up with an operation that wants to do the typical mentor process and training regimen. I just need a company that will allow me to pay them whatever their typical fee is so that I can get active and be fully prepared to hit the ground running as soon as I move my family out there in the spring.

Thank you all in advance.  Love to see that BiggerPockets is alive and well in the Nashville area as well.

I live in McKinney and will be setting a full-time office in Allen soon. I love the idea of a meetup for BPers in the North Collin County area. I'm sure we all have the ability to help one another in one way or another.

@Carlitos Irula and @Lance Phillips - I didn't take the time to read the full thread, but I did notice your comments about North Dallas duplexes.  If you are looking for turnkey, its definitely slim unless you are willing to overpay.  However, I do come across a duplex every week or two in the North Dallas market that, with a little love, will capture the crazy rents that the market is currently allowing.  I even have a showing scheduled for Thursday at an 8-plex in Dallas that is currently at $170k, but it needs about $120k in work (or about $15k per unit).  For obvious reasons I can't get to specific on a public thread, but I'd like to at least stress that the multi-family deals are definitely out there.  PM me if you'd like more info or would like me to start sending properties your way.  Best of luck to all of you.

@JD Castillo I hope more people see and absorb your post. I, as a profession, do direct placement of properties with investors, and the most frequent roadblock I run in to in today's market is investors expecting to buy at a cheaper price than the market will allow. A handful of my clients work with local real estate mentors who still teach investors to buy at 70% of ARV less rehab costs. Now this principle is great if you can find a property that meets that criteria (which is possible if you are the one out there pounding the streets and drumming up your own leads), but to draw a line in the sand and say that you will ONLY buy a property that meets this criteria is, in my opinion, a mistake. I fear these investors will watch a lot of decent deals pass by while they search for a white whale.

Like @Antonio Marte suggested, it is indeed a seller's market, and they definitely know it. The market right now dictates tighter margins. People, estates, municipalities, etc. know that there is a shortage of inventory and therefore the prices are appropriately reflected...simple supply and demand. The good news of all this? Do a good rehab, keep your costs under control, and once you are ready to flip, you'll have one of the few properties on the market and will likely keep your holding costs down. Given the appreciation the area has experienced as of late, there has been a trend of investor's receiving a higher selling price than the original quoted ARV (which are of course estimated by historical area comps). So, there is indeed a trade-off to the higher entry prices we are all experiencing at the moment. Okay - that's my soapbox...I'll step off now.

I tend to agree with @Marco Santarelli.  As an average, Dallas does have low vacancy rates, but it really depends on the area.  Cross one major road in Dallas and you can be jumping from a neighborhood in very high demand, to one with high DOM.  If you are looking to invest your money out of state (whether it be here in Dallas or elsewhere), I recommend investing the time to meet professionals in the area who do this for a living.  For anyone looking in Dallas, feel free to PM if you would like further info.  I live here and cover all corners of the metroplex on a weekly basis.