All Forum Posts by: Taylor Bittner

Hey Derek, glad to hear you have started your investment portfolio! An STR is a great way to get some cash flow going, and once you start renting out several properties, that monthly income will greatly increase your buying power! Have you given any thought to fix and flips or maybe lots to build on? (In the future of course!)

Hey Kenneth, happy to hear that you are beginning your investing journey! I have worked with many investors when it comes to flipping houses and for newbie flippers like yourself, I would say it is best to find a property as close to home as you can get! It will ease the process in ways like being able to commute there on a moment's notice and having a good idea of the area to begin with! Depending on your budget, your end profits can greatly vary, but for the first flip, I would say to shoot for 30-40k profit margins. A great way to do this is to find off market properties, because they will often be negotiated down already, and there is usually always still wiggle room for asking prices! I recommend looking up on the Internet if there is a New Western Acquisitions branch in your area, if so, they specialize in off market distressed properties, and they have deals for WAY under market value! If you plan to continue sourcing your own properties, be ready to put in the leg work, as well as being able to handle objections, because if you want to make a substantial profit, you will need to be able to negotiate down using market knowledge along with just being personable! 

Hey Vivan, if you are looking for 3k return monthly, then you would want to invest in a SFH in a good rental market or maybe a lower grade condominium with tenants in place already. It will be harder to find a condominium on your buy box, but not impossible depending on the market, but I will say that Middle Tennessee is showing SEVERAL different areas that contain 1% and better rental properties! I have personally seen HUGE ROI's in this market, and it won't slow down anytime soon!

In my opinion, Chattanooga is the safer play! Folks are renting quite a bit in Chattanooga, and while Kevin is right about the lower prices in Memphis, Chattanooga offers a quickly expanding market with huge potential. Homes are appreciating nicely in the Chatt. area, and rental rates are steady for the most part! Make sure to do your own due diligence, but Chattanooga is a growing market waiting for new investors to break into it!

 Hey Luka, and yes indeed I do, but a good a magician never reveals his tricks! If it is any consultation, start working with someone who deals in off market properties, that's where those otherworldly deals are!

Hey Stephanie, the 1% rule will be pretty hard to find in the Nashville market right now, but it can be easy to find something in that criterion around Nashville as in Murfreesboro, Hendersonville, Columbia (Columbia is a HOT rental market right now!), and Antioch. 

I personally believe that either house hacking or flipping is the best way to start your investing journey! Both methods are relatively easy ways (with the right knowledge) to effectively build your portfolio/income. Although, if you already have the capital, flipping would be the quicker method to increasing your purchase power, and therefore your portfolio! I would say for a first-time investor, it isn't a bad idea to work with an investor friendly real estate agent, just to "hold your hand" through the process. You obviously will lose a portion of the back-end profit, but the help and knowledge are worth it if you ask me, but while having an agent can certainly ease the process, you must make sure to do your own research and due diligence, you should just be as informed as your agent if you want to make the right choice when purchasing any type of property!

Nashville is a hot market for Rentals currently and it seems like that won't change anytime soon, and I've noticed that people are renting in Columbia and Madison quite frequently. Medium term rentals would be the safer option in my opinion due to the uncertainty that comes with STR's, your cashflow would be lower but overtime it would turn into a solid source of passive income. STR's are uncertain due to the term length, one month you can make all the money in the world, and the next you could be paying for those bills out of pocket, so it would have to be strategically operated, but at the same time they can be a fantastic source of income!

I have several opportunities in and around the Clarksville area, and would love to connect with others around that area!