All Forum Posts by: Steve Frye

Middle TN Realtor looking to rep buyers on this. Mobile Home Park in Middle TN. 21 pads, $550k. Message me for more information or text or call me at 615-500-1175.

@Davis Reese My go to for me and who I recommend for all my real estate clients here in Nashville is Luis Mesa. 407-485-4617. He has a good crew, is fast, reasonable and his quote usually includes paint from Sherwin Williams. Highly recommend. Tell him I sent you!!

Attention all investors!!  Have a unique investment opportunity in a Nashville based fast-growing real estate brokerage. 

Looking for a $2.5M investment

10% interest with a 24 Month Balloon Repayment Term with 24 month clock beginning on date of final disbursement.

Disbursement schedule as follows:

• $250,000 within 10 days of agreement.

• $1,000,000 within 45 days of agreement.

• $1,350,000 within 90 days of agreement.

The allocation of those funds will be as follows:

• $300,000 Mortgage Co Joint Venture. We have hired 2 (likely 3) loan officers who have significant experience and portfolios of business to the tune of approximately $100M in loan volume annually. This will bring a significant cashflow stream of pure bottom line revenue into the organization through our partnership.

• $250,000 Franchise Development and Marketing. Our franchise development and sales team, in partnership with United Franchise Group (and others), have given a financial expectation of approximately $175K for turnkey franchise development and marketing capital for lead generation of potential franchisees. I have cushioned this number with an additional $75,000 to ensure we reach a self-sustaining channel cash flow with no more than $250,000 invested.

• $1,950,000 OPEX and cushion for burn rate while growing to profitability. Due to our speed of growth, we have had to allocate significant resources to keep up with the demands of services for our agents. Our projections, at current agent count and sales volume, show this cushion providing nearly 3 years of cash for OPEX. We have to grow by approximately 45 agents to reach break even, and our immediate growth goal (that our recruiting team is working toward) is 300 agents which will bring us to about $750k annual profit pre-ebitda. This OPEX cushion will allow for us to have less organizational stress and uncertainty where we can focus additional energy toward our future with technology components that will revolutionize the real estate industry for both agents and consumers.

We are in the process of raising $30M which our investment team feels strongly will be fully funded within 18 months.

It won't let me message you the information for some reason.  My lender is Brett Wilmer with Loan Depot.  His number is 615-618-9735.

Hey Thomas.  I have a local lender that I routinely send my investor clients too.  They have been able to secure a 10% down loan for them in lots of cases.  Of course, your specific situation dictates that but they are a great option to start with.  I'll DM you the info.

Big Price Drop! Charming 1,963 sq ft 4 bed, 3 bath bungalow built in 1946. Bonus space on top floor & in basement (man cave, bedroom, or STR). Home is RM9 zoned, making it STR eligible as a Non-Owner Occupied NOO (entire home) or primary residence for your family. New laminate flooring & stainless kitchen appliances as of 2/24/2020! Located off White Bridge Rd. Already appraised at $499k. Home can be sold fully furnished for $20k more. Current active Airbnb.

Historic Tobacco barn reimagined into luxury NON-OWNER OCCUPIED STR Airbnb condominiums. MUN zoned! This condo is a must see corner unit located on the top floor boasting high ceilings, luxury finishes with downtown views.The 1865 gated community includes a dip pool, outdoor bar/entertaining area, fitness center, and an observation deck. 1 full bath but also has a separate sink / vanity setup in the master bedroom. Located only 2 miles from downtown & minutes from local hot spots!

@Derk Cheetwood I'm a Realtor here in the Nashville market.  I work primarily with investors around the country on properties throughout Middle TN.  I've got a MHP that I'm the listing agent on in the Tullahoma area that is under contract.  Would love to connect and discuss any questions you might have on the properties you found.  

I’m a realtor in the Nashville market. Market is still really hot here.  If things are priced well, they still move quickly.  I’ve had two listings sale in a day recently.  Prices seem to be holding steady for now but days on market fee like they’re ticking up some.  
Short term rentals are a tougher sale right now and I’ve seen them become more available and prices drop on those but truthfully they were all priced with a strong premium anyway and needed to settle down...including the ones I’ve got listed.  
I have had several contracts blow up in the last month due to job loss and other financial issues but I’m also picking up others from investors and those looking to house-hack.  
I do worry about the tighter lending restrictions around FHA slowing down the market more than just the general demand and supply. We shall see!!

@Christopher Davis HPRs are separate entities but since they share the same lot, they are only allowing 1 permit per the lot and as it mentions you do have to live in one of the units. It doesn't even have to be an A/B type lot. I've seen HPRs with separate addresses that are attached or detached but they share the same overall lot. For instance, I sold 20A/B Fern and 22 / 24 Fern Avenue recently. 20 A/B was attached and the exact same as 22/24 Fern but the latter two got separate address. Those were all zoned RM so they were able to receive NOO STR permits on all of them but even if they bought just one, they could have gotten the permit. I also sold 16 A/B to 2 different investors and they each were able to receive their own NOO STR permit since the property is zoned RM.

Hope that helps.  DM me if you want more info.