All Forum Posts by: Sean Wilson

I've had tile professionally glazed at 3 different properties, and overall I am a fan.  All 3 times I was having the tub done anyway, so I went ahead and did the floor & sometimes wall tile (1960s properties) while they were there for a couple hundred $ more.  I've done 2 properties all white, and in the third one we did white tub/walls and sandstone with speckle on the floor to match a vanity top I had already purchased for that bathroom.  My recommendation is go with a color on the floor, as the white gets gross quick.  The oldest one is 2 years old, and overall it has held up pretty well.  I used a company called Get-a-Grip, which is a nation wide franchise, so quality will depend on installer.  I would never try to DIY this, as I've seen plenty of properties where people bought the kit from HD and it's peeling off in chunks.

I wasn't able to make it due to a work commitment, and this is great information.  Thanks @Luka Milicevic!  What did you think of the new venue?

Take a drive through Sudekum at night and ask yourself if the type of tenant you are looking for would want to live in that neighborhood.  If you are willing to manage that class of property, there is the potential for appreciation because of it's location.  However, keep in mind that Sudekum is public housing, so the odds of the complex itself getting gentrified in the near term are limited.

@Gerald Pitts

As others have said, the days of the 2% properties in Nashville are pretty much gone.  Rents are increasing, but they aren't keeping pace with property values.  Many of us buy-and-hold folks are doing the same as @Carrie Carlton and focusing on refinancing to capture the equity we've picked up over the last 3-4 years.

As far as deal evaluation now, I'm either looking for 10% coc return after financing or enough equity to brrr my entire investment out of a non-financed 1% property.  These are hard to come by and typically require quite a bit of rehab, but they do still exist.

@Luke Carl it really just depends on what kind of investor you are looking for.  There are quite a few of us lurking on these boards and at the local REIN meetings, but everyone has their own criteria.   If you are looking for a hard money lender, REIN is a great place to network with those people. 

@Luka Milicevic Absolutely!  I'll send you my contact info.

Thanks @Account Closed what did you decide to do?

@Anne Wallace Absolutely!  I'll PM you my contact info.

Since Brandon mentioned TN, I can tell you that most cash buyers around here are looking for 30%. In other words, purchase price + repairs can't exceed 70% of ARV.

As others have mentioned, that certainly varies by area and sometimes on a deal by deal basis.  Those of us who do buy and hold are sometimes willing to pay a little more (but never more than 80%) for the right property, especially with the market as hot as it is in Nashville right now.

@Account Closed I've never seen a limit that low.  I pulled my files, and I've used both American Bankers Insurance of Florida (through Geico) and Foremost Insurance (available through Amica or Farmers) on that property.  Both policies were Landlord cash value policies, which included liability and a total loss coverage of way more than $25k.