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All Forum Posts by: Rhett Kelton

Rhett Kelton has started 6 posts and replied 80 times.

Post: Any PMs For Short Term Rent By Room In Middle TN

Rhett Kelton
Pro Member
Posted
  • Rental Property Investor
  • Murfreesboro, TN
  • Posts 82
  • Votes 45

Not sure if PMI does short-term rentals, but I know several of the guys there and they are quality people.

@nathan beach

Post: Nashville multifamily locations

Rhett Kelton
Pro Member
Posted
  • Rental Property Investor
  • Murfreesboro, TN
  • Posts 82
  • Votes 45

Audrey,

Welcome to Nashville! I hope it will be the great move you want it to be.

What sort of price range are you looking?  Coming from a bigger city the price points are sure to be different, but there totally different kinds of price point/areas within the 30 minute commute.  I live in Murfreesboro, and some of the multifamily seems extremely high to me, but I have talked to out of towners where the prices are a no-brainer.  I am more than happy to help with any ideas.

Post: Southern Tennessee Multifamily Investing

Rhett Kelton
Pro Member
Posted
  • Rental Property Investor
  • Murfreesboro, TN
  • Posts 82
  • Votes 45

I live in Murfreesboro. It's gotten really hot here, especially for multi-family. Not quite as much as Nashville but prices are skyrocketing. 

Atlanta is 4 hours away so that is not really a consideration for the Nashville market. Chattanooga is 2 hours away. It's not really involved in the Nashville market either, other than some investors putting money there, but has a pretty good infrastructure and investment options. Just be careful of the areas you do invest there. Huntsville is a 1-1.5 hours away. It would be more of a tertiary market for Nashville. But a couple Nashville investors that I know of are moving money down there as well.

If you were looking more for stable rent with smaller multi-family, it might be good to look north of Nashville in the Clarksville area. Because the large army base is there, there's always going to be consistent demand. I don't know anything about the appreciation though like Nashville/ south Nashville areas has.  Clarksville is between 45 minutes to 1 hour away from Nashville.

Post: Cash out Refi in Middle TN

Rhett Kelton
Pro Member
Posted
  • Rental Property Investor
  • Murfreesboro, TN
  • Posts 82
  • Votes 45

@Michael Hooper

Did you ever get a HELOC?  or talk to one of them about it?

Post: Cash out Refi in Middle TN

Rhett Kelton
Pro Member
Posted
  • Rental Property Investor
  • Murfreesboro, TN
  • Posts 82
  • Votes 45

@Michael Hooper

Try talking to Wilson and Volunteer State. You might have to pay a little higher rate, I've talk to both of them, and they've both pretty investor-friendly. They may be a little on the conservative side but it's worthwhile to get some relationships with someone in each place.

Post: Cash out Refi in Middle TN

Rhett Kelton
Pro Member
Posted
  • Rental Property Investor
  • Murfreesboro, TN
  • Posts 82
  • Votes 45

@Michael Hooper which local banks in Murfreesboro have you talked to? I've talked to several of them - haven't needed to cash out refi yet, but several of the bankers are interested in the idea.

Post: Rent the house or sell?

Rhett Kelton
Pro Member
Posted
  • Rental Property Investor
  • Murfreesboro, TN
  • Posts 82
  • Votes 45
Vito,
I'm here in Murfreesboro, and 'I'm happy to help point you in the right direction and at least give you the good contacts that I have, to start your new REI path here.  I know I don't know everybody, but can give you a good base to start with.

I don't think I can partner up right now, since I am in the middle of 2 1/2 projects, but whatever I can.  

Post: New Construction homes Nashville under 300k

Rhett Kelton
Pro Member
Posted
  • Rental Property Investor
  • Murfreesboro, TN
  • Posts 82
  • Votes 45
I agree with Cullum- I'm in Murfreesboro, and there are very few new builds under 300k.  MLS shows several, but they typically go pretty quick.

Post: First Investment Property

Rhett Kelton
Pro Member
Posted
  • Rental Property Investor
  • Murfreesboro, TN
  • Posts 82
  • Votes 45

Nice job!  Seems like you got a great deal and loved how you pivoted in your plans.

Post: Newbie investor looking for 1st (of many) BRRRR's

Rhett Kelton
Pro Member
Posted
  • Rental Property Investor
  • Murfreesboro, TN
  • Posts 82
  • Votes 45

Sorry about the delay. The #1 thing is to join the REIN and TN REIA groups here in Nashville/Middle Tenn. You will find lots of active investors. Almost everyone I have dealt with personally has been more than willing to be helpful.