All Forum Posts by: Scott Anderle

 It seems that you probably connect with David Green's podcast pretty well. I appreciate that view. My question is are you putting all of your money in the stock market, or are you still doing some level of real estate investing?

@Travis Timmons Thanks for sharing this data. It def gets me thinking of Rob Absolo's Airbnb 2.0 idea, and finding places near these cities and making the airbnb itself the destination. 

In addition to that AirDNA shared this article from Search Logistics titled: Airbnb Statistics [2025]:User and Growth Data

I live in Nashville, TN. I used to work with a property management company that managed 30+ STR's. Now I have just started with my first studio airbnb. The data the pull in the article is a few years old but it says that Nashville is in the top 10 of the highest revenue STR cities. However it is not listed in the top 10 of highest demand cities (most bookings) or most listings. Seems like there is still potential here.

https://www.searchlogistics.com/learn/statistics/airbnb-stat...

 This is a great point. and encourages me to keep monitoring and changing the price. I think what @Garrett Brown is getting at is using this in addition to other methods. Photos alone won't get the most bookings. Price alone won't get the most bookings. It's a mix of everything. In Nashville our Airbnb Facebook page was talking about how none of us were getting bookings. So I decided to go to my listing every day and change little things (upload a new picture, switch the order of the pictures, change the title of the property, add more or different info in the about section and edit price) The next day, we went from 0 bookings in January to 71% occupancy! 

Great post @Garrett Brown, we have a vibey outdoor hang with string lights, plants and seating by a mini gas fire pit. I'm excited to take some of those pictures and see how it improves.

Something we have done that seems to gain attention is our first image is a collage of 4 of our top photos plus the property name and marketable info. Click the link below to see the our reference. 

https://www.airbnb.com/rooms/842156945375355292?guests=1&...

Also David Green's book Long Distance Real Estate Investing or BRRR talk about this in detail. 

I'm loving the responses. NY is expensive and can understand why people are saying Ohio.

It sounds like this is for a long term rental. My experience is with STR's. If you were to get an STR, I would highly suggest the the property is in an area you can drive to within a day. It can be hard to find a good fit as a property manager, or know what's going on with all the guests you have.

My advice is if it is a STR, have the first one close to you.

Investment Info:

Single-family residence other investment.

Purchase price: $310,000
Cash invested: $28,497

This is our first personal real estate investing move. House Hack. We live in this house, renovated an former garage to be a mother-in-law suite. We use it for STR and Mid-term rentals. Our target market is the Dave Ramsey Traveling Couple - We want to provide a trip where couples can still live while living like no one else to later live like no one else.

What made you interested in investing in this type of deal?

Our standards were low. Everyone says your first deal is not your best deal. We were looking to just get in the game. The only standard was, can we live in this house and have a space to rent out? We found this property right by the BNA airport, in a safe but developing neighborhood (C+ level).

How did you find this deal and how did you negotiate it?

Nothing fancy on this first deal. We took David Green's advice. Instead of looking for 3br/2b houses, we searched for 2br/1b houses and look at size and potential to add another room. This house was listed as a 2br/1b and 1,700 sq ft. It had 3 separate living spaces! We converted one of the living spaces (which was formally a garage) into a mother-in-law suite and added a bathroom. We brought more value to the home. Our house has appreciate $100k and our STR to covers mortgage

How did you finance this deal?

FHA Loan

How did you add value to the deal?

Converted a living space into mother-in-law suite (around 700 sq. feet) with master bedroom. We brought in plumbing, additional electrical, and basic remodeling.

What was the outcome?

House appraised $410k (No more PMI!), we make a monthly $1,215 which covers most of our mortgage! Our Airbnb is in the top 1% of listings, a guest favorite and has given us the title of superhosts!

Lessons learned? Challenges?

Installing plumbing with a concrete foundation is a lot of work. Even if I budget more than expected, the price of goods and services since 2020 has really shown me that the prices I researched by to 2021 did not apply.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Logan Rhea with Pro25 was an amazing real estate agent. He helped navigate us through the emotions of home buying and focus on the goal. He is also an investor specializing in Mid to short term rentals (404) 275-0488
Also LOVED Hoffman Brothers Plumbing. They are pricey, but amazing communication and service and quick.
My drywall and painting guy Luis is amazing. I've use him multiple times and have been satisfied with his speed, communication and being respectful of my budget (615)-545-9956

Hey KD! 

I've posted my goals here: https://www.biggerpockets.com/forums/12/topics/669...

My goal is to specialize in short term vacation rentals (BRRRR strategy). Once I master that, I want to work with bands touring the southeast, book and promote their shows and give them a place to stay. If the zoning works out, I want to do house shows.

What I'm doing right now, is building my team and analyzing deals while I pay of debt. Once my wife and I pay off debt in Fall of 2019, we will buy our first property as a house hack and then do some local long term rentals. 

Great books I have read, 

Tax Strategies for the Savvy Real Estate Investor

The Beginners Guide to Real Estate Investing J Dorkin and Brandon Turner

Creativity Ince by Ed Catmull

Way to go, Keith!

I'm new to the game and will buy my first property (house hack) when I'm debt free in Sept-Nov 2019. So I may not be your guy yet. 

Are you looking to invest in Nashville and Chattanooga, or are you focused on the Memphis market?

Howdy Chris! 

I'm new to the game as well. I have found Real Estate Investor Nashville meet ups.

They seem to have 3-4 types of meetings

1) Weekly lunch-eon in different parts of Nashvilles. 

        Great networking and meeting up with people. @Kirk Gore is one of the sponsors for the Brentwood meet up. I work during lunch at Monday's and have not been able to go yet. 

2) Deals Deals Deals

     Once a month they bring some people in to present and evaluate properties. I hear this is a beneficial meet up.

3) Rehab Day

      You get to go visit 2-4 rehabs and talk to the investors working on the property.

Unfortunately there is a fee for most of these meetings (unless you become a member). That's where I haven't gone yet. I just bought my Bigger Pockets Pro membership.

Here's the link to the group: http://www.reintn.org/

I'd love to meet up with you and keep each other accountable on getting this done!