All Forum Posts by: Tim George

Misread thought it was flipped. I've heard great things about Cincinatti as well.

Nashville, OH? Nashville, TN has much more expensive real estate than Columbus. The buy in point at this point is assanine and we have incredibly strict STR laws.

Hey there! I'm from Lafayette originally. Real estate is great but at this point in Nashville (I've been here for 10 years) I think the entry point is pretty high for someone who isn't handy or wants to be fairly hands off. You might want to consider finding an area closer to you in Indiana to try the methodology that you are interested in, work out the kinks, and then apply down here. There are also areas around issue that are more affordable and experiencing a lot of growth that could potentially work for you. 

If you are good at branding/instagram/etc I imagine this could work. Most folks want to STR in the city center but it might be worth looking around the lakes in the area. There are a number within an hour or so and the property is pretty cheap on them at the moment. I imagine that will be changing over the next 5 years as people get comfortable living further outside of the city as the suburbs grow. The smokies aren't that far and there is some great outdoors closer to Chattanooga. That being said you could look for property around Ashland City, Joelton (which probably still falls under the same zoning restrictions), Fairview.

Does anyone know the specifics of building multiple homes of an R10. I own a lot (not selling don't try :) ) and for the life of me feel like they passed an ordinance on R10 lots that they needed to be owned before a certain year (2018/2019) now to be developed into multiple homes. I've developed some R6s but I could have sworn something changed on R10s.

Thanks for the quick response. I agree that it would be the much smarter play. But say I’m a risk taker. For the sake of conversation is what you are implying more so that there is a chance for things to take a turn for the worst before the project is complete even if everything went well in terms of zoning, development, etc. The difference financially for me would probably be 50k vs 200k. Thanks. 

Hello there. I am a current resident in East Nashville. I own a property that is essentially right next to an old manufacturing factory that is being turned into 40,000 soft of retail/restaurants. Not mixed use (no condos attached). I have gotten really into zoning as of late and looked up the area. They bought 4 of the lots across the street and are developing some of that as well as far as I can tell. It is supposed to be finished in the fall.

The home I own like I said is right around the corner. Next to me there was a lot zoned the same as mine, r6, that was recently developed into two units. Both sold for a considerable sum, and that was before this massive retail development was known about. 

I refinanced my home with intentions of purchasing another, but, I am wondering if while the economy is still goodish (i.e. no recession yet), I should try to pull the trigger on developing my own lot. I have some money from the refi like I said but I don't think that it is enough to trigger the development. They developed the lot next to mine very quickly. I would say 9-12 months.

I'm wondering if there is anyone in the area who is familiar with the process. I would sit on the lot for eternity but I'm wondering if it would make more sense to develop it now and have significant finances on the other end to start another project. 

I have a humble day job that pays $35k. Thought that would be worth noting.

Thanks in advance for any of your time and thoughts.