All Forum Posts by: Steve Frye

@Vince Biegel Great to see you on here and pursuing real estate as an investment tool. Nashville is obviously an amazing market for Airbnb and consistently one of the top 5 markets in the country. It does have regulations, like most metropolitan cities, but have had them in place since 2018 and are well defined. Properties just have to be in Commercially zoned areas (among a few other smaller regulations) and developers have created developments that are built specifically for Airbnb. The commercial zoning actually makes the experience better since it makes Nashville unique in that many of their STR developments are located near populated areas closer to downtown and often in walkable areas. There are a lot of people you'll hear on here say that Nashville has too many regulations but that's not the case at all. You just have to know the rules and there are very defined properties and processes to invest in amazing properties.

Prices are also at a good place right now in that world. They have dropped a little bit, you can secure good seller credits and have leverage on the buy side. As the rates continue to drop, you'll start to lose some of that leverage since inventory is still tight and more buyers will enter the market. I maintain a list of eligible, available non-owner occupied short term rentals (NOO STRs) here in Nashville that I share with my clients.

I'm a Realtor in the Nashville market that works with investors around the country in the Nashville, Middle TN and Smoky Mountain markets. I'm also an investor myself with short term rentals (STRs) in both markets and specialize in selling investment and STR properties with over $100M+ of real estate sold in my first 5 years of the business. Prior to that I was a Corporate Finance Executive for 20+ years. I have a long list of athletes and celebrities as my client base so I have my business tailored to support their schedules and availability.

I'll DM you on here to connect.

Reach out to me for more information or to go see any of these developments. DM or call/text me at 615-500-1175.

1. 29 Units

- Located in McMinville, TN

- Asking Price: $1,780,000

- Cap Rate 7.0

- Highest value add opportunity

2. 38 Units

- Located in McMinville, TN

- Asking Price: $3,950,000

- Cap Rate 7.5%

- Majority Renovated, still some value add opportunity

3. 21 Units

- New Construction in Shelbyville, TN

- Asking Price $3,290,000

- Cap Rate 7.3

- All 21 units Leased up at $1,250/month

- Builder is currently building another 22 units nearby

Gross revenue almost $400k, net almost $200k for $2.5M with big upside remaining in selling additional services!! Current thriving wedding venue! Additional land would allow the owner to build a small hotel that could house the guests and generate a few million more in revenue annually.  Located in Kentucky just an hour from Nashville!  Message me or call/text me (Steve Frye) at 615-500-1175.  Looking to represent the end buyer only.

$200,000 in gross rents for $1.5M!!!  Mobile Home park in Middle TN, 90 minutes from Nashville, is available off-market. 16 trailers that are all park-owned. There is some additional space that the current owner is starting to put storage building on and charging $150/month for those as well.  Looking to represent the end buyers only. Message me (Steve Frye) or call/text at 615-500-1175 for more information.

Looking at bringing in a partner on a mobile home park in the Middle TN (Tullahoma) market. 16 units that generate $200k at around $1.5M. All park owned trailers. Those numbers are better than most of the ones I see out there.  Any suggestions, recommendations for whether that deal sounds solid? 

@Kelsey Stachowski Not sure where you’re moving from but I know you’ll really enjoy living in middle Tennessee. I’m a Realtor and investor in the Nashville and Middle TN Market but also connected in the Smokey Mountain area. I focus my business mainly on investment properties (SFHs, multis, apartments, mobile home parks, land, etc) in the middle Tennessee market and my Frye Group does about 70-80 deals a year. Feel free to reach out to me for any questions or guidance on what you’re looking for.

16 Doors (12 SFH and a Quadplex) available in the Red Hot Birmingham market. All properties have been recently renovated. Earns $120k per year current rents. Priced at $1M. Agents, please add any commissions on top of the asking price.

Message me for more information.   615-500-1175 / [email protected]

@Lisa Stewart Eriks great point and you're absolutely right! I field questions every week from investors about the regulations for STRs and guidelines in Nashville and The Smokies. I maintain a list of available developments and properties for the Nashville market that qualify for NOO STR that I share with clients.

Downtown Nashville STR Special!! 6 4 bedroom units available starting this week!!

Incredible Multiple NOO STR Turnkey Opportunity! Buy one or multiple! 113 A/B, 115 A/B and 117 A/B for sale. All sold fully furnished! Downtown Skyline Views! Luxurious, contemporary, open plan with 9' ceilings, garage, hardwood floors, granite, upscale appliances, large island, and more. Minutes from Nashville, Germantown and new River North development.

Message me on BP or contact me at 615-500-1175 for more information.

https://go.realtracs.com/0IzFT...

https://go.realtracs.com/0IzFb...

https://go.realtracs.com/0IzFj...

https://go.realtracs.com/0IzFp...

https://go.realtracs.com/0IzFx...

https://go.realtracs.com/0IzGv...