All Forum Posts by: Wayne Woodson

As @Christian Espana said having a good property manager is key. I do STR property management here in Nashville and can help with getting permits and managing the unit. DM me if you want more info.

 Yes I would do the property management and also put some money in along with furnishing the property, dealing with the numpad locks, etc.

As the title suggests I am looking for business partners who want to invest in STR (short-term rentals) in Nashville, TN. I know the short-term rental laws here very well and can pull permits (yes even NOO), provided maintenance, cleaning services, etc. I would also be the boots on the ground naturally. I am unable to qualify for a traditional mortgage or get a loan and that is why I am looking for a partnership.

The problems I keep running into with duplexes are the seller wants cash only, it is $300k+ or won't pass FHA.

I am trying to buy my first duplex in Nashville and almost everything on the MLS is $300k and up. The few properties I've seen below 300k won't accept FHA or conventional. In addition to that these things are currently rented at $800 - $900 a side. I'm no math major but that doesn't add up to 3k or even 4k a month. Has anyone else been able to buy a duplex recently in this market that does cash flow? Should I just give up on house hacking?

Nah if anything I would say we are still underbuilding. 

It may slow down a little as rates go up but I will bet you it will continue to grow. Columbia, Clarksville, Lebanon, and Dickson will be the up-and-coming areas as these areas arent super overpriced yet. 

I hope it does slow down so I can buy a duplex.

If my landlord ever raised my rent by 10% I'd move out ASAP! I don't care what the market does.

Basically, I want to buy a duplex but all the ones in and around my area start at $400k+. Sadly these are rented for $700 aside in crappy neighborhoods. Seriously who the heck is even buying at these prices? Did they learn real estate investing from Grant Cordone? I was pre-approved for a mortgage of $300k but I have had 0 luck finding anything even close to that. I thought about maybe just building a duplex but I heard that it is harder due to lot prices here, materials, and running sewer and electrical on some lots. I am looking for suggestions or ideas to house hack in this crazy market.

Trading stocks and buying glocks.