All Forum Posts by: Wayne Woodson

I'd rather own a rental in Mar-a-Lago

Does anyone have any tips on getting NOO STR permits approved in Nashville? Anything to look out for, before I submit the application. It seems like a lot of the information is very vague or outdated.

Rehab looks great! How did you estimate your repairs? I am just curious. 

The highest gross rents and great schools don't go together here in Nashville. Maybe Brentwood and Franklin are what you are looking for (37027).

Quote from @Bruce Woodruff:

Quote from @Jamie Small:

I'm interested in Tennessee personally- although I've never been.  What are peoples thoughts about outside of Nashville area, Clarksville particularly?  Coming from California, everything feels affordable... 

You HAVE to go to Tennessee! The most fun trip we ever had. Hit Memphis and Nashville for sure and then scout out the surrounding areas. Might be the best state in the country (all things considered).

 Nah Gatlinburg is better. Not as crowded as Nashville and better than Memphis. There is nothing to do in Clarksville.

@Charlene Fetzer I personally would keep it, but that's just my option if I were in your situation. If you ever do decide to sell that duplex let me know. I can pay all cash and close quickly. 

Quote from @Nick Florio:

Which markets are you looking at? Good luck with your investing!

 I am looking at Memphis, Chattanooga, Knoxville, Orlando and Miami.

Since my city sucks when it comes to Airbnb permits and housing prices in general I am looking in getting started elsewhere. Does anyone have any experience setting up an Airbnb unit remotely as far as getting it furnished and doing paint a carpet? Do you hire a property manager or a GM? Do you just travel out to the property and try to fix it up while you are there? Any tips would be helpful.

Hi Case, what aspect of REI are you looking to get into? There is a lot more to real estate than just buying rentals in Nashville especially now for just a 2% cap rate.

Quote from @Cliff C.:

Quote from @Allan Smith:

It is for all the reasons listed above that I don't really buy long-term rentals anymore. I buy short-term rentals and I have doubled down on construction and development until the Market cycle changes. The getting is good in development so I figured might as well make hay while the sun shines. Got my GC license for builds.

to be fair, there are markets that cash flow around the country. They are in rural areas and such. Friend of mine in Arkansas is buying rentals at the same price the seller paid 30 years ago. Zero appreciation! 

Are you buying STRs in Nashville area? Where are you buying STR and how do they cash flow? I have a 1031 exchange that I need to invest from and am considering investing in the STR model.

Thanks!

If you are looking for an STR property manager let me know.