All Forum Posts by: Damien Shoemake

3bd/2.5ba End Unit, 2 Story Condo, 3 doors down from pool in a Golf Course Community. Recently renovated & upgraded. All systems are new; HVAC & HWH + new electric outlets, switches, lights, fans, cabinets, counters, stainless appliances, vanities, mirrors, tile, paint, carpet, flooring, doors + a bonus washer & dryer. Rent comps are showing $1200-$1250. HOA fee covers grounds, exterior maint & ins, roof, trash, water, pool & termite.

Price negotiable. Figures below calculated on current asking price. Message me for details:

Purchase Price: $94,500.00

Est Closing Costs: $2,868.00

Total Cost: $97,368.00

Taxes: $1,116.00

HOA: $2,544.00

Insurance: $252.00

Total Operating Exp: $3,912.00

Monthly Rent: $1,250.00

Total Annual Gross: $15,000.00

NOI: $11,088.00

More detailed calculations below with CCR, assuming using Conv Fin w/ 20% Down, self managed.

Message me for more details. Thanks for looking!

Nashville, TN, Great Rental Opportunity. Good Cash Flow & Cap Rate. Full Renovation, Move-in-Ready, Upgraded Turn-Key Rental.

Thank you @Chris Dozier I would appreciate that. We do prefer the Gulf side and we really like Sarasota, but would be happy with Naples or Marco too!

We too will be driving down through FL the end of next month again though on our way to scope out a few Vac/Rentals down 95-S and on into Marathon, Sugarloaf Key & Key West, although the Flood & Windstorm rates might be higher but in Monroe Co, the Occ Rate is at 87% so far this year and ADR is $215 across the board on hotels, resorts and specialty rentals. Any idea about Hillsborough Co?

Welcome Chris, this is a great place to learn and share. Please add me to your list of interested buyers of wholesale deals as well. What areas of Mid-TN are you operating in?

I would like to hear more about your land deals in FL too. My wife and I have been thinking about Hillsborough Co or lower, like St Pete, Clearwater, Sarasota, etc... for a vacation rental with an SD-IRA.

You can private message me if need be. Thanks!

Hello David, good to see you here in Nashville. Feel free to send me a message, we have a rehab that is nearly done and 1 that is currently under way plus 1 more to start that should close by next month so you can come out and get some "hands on" experience and advice from me and a few other local guys if you want.

Thanks @Matthew Robertson for the shout out. How's it going over seas?

Hello from Nashville! Sounds like you may need to find a blanket portfolio lender that can originate and service without having to sell on the secondary market.

I just sold 2 units to an out of state LLC who also bought another 20 or so with cash over the past 6 months, now the houses are all on 1 recorded loan in the name of the LLC.

Hello Troy G. with $40k, it really all depends on what part of TN you are coming to. I know here in Nashville, $40k about 2 years ago could have gotten you something pretty good, maybe it only needed $10k in rehab as well, but now, it's more like $50k-$70k + another $10k-$15k in rehab... MLS inventory is getting pretty dry here and when something new comes out, it's overbid on quickly! Foreclosure auctions are looking a bit promising though.

Conrad, I know where you are coming from. I worked as a CFO for Hilton Corp for over 10+ years and made tons of "nerdy" spreadsheets for them and now those budgeting & forecasting sheets are the basis for my very own templates for investing in real estate as well as stock options. I've got a cool rehab valuation xls, with buy & flip or hold scenarios and offer calculators...

Your thinking is right on target with the buy and holds along with a few flips in between. Between myself and about 4 other guys I'm working with, we have over 30 holds, SD-IRA's, LLC's, personal, etc... and I'm currently rehabbing 1 at this very moment. Come on by to see the action if you want, I'm in Nashville too!

An interesting piece of history… The Declaration of Rights for Virginia, written by George Mason, was actually a model for the Declaration of Independence. It included the phrase: "the enjoyment of life and liberty, with the means of acquiring and possessing property... and pursuing and obtaining happiness and safety."

But why did Jefferson leave off the part about Property when he wrote: "Life, Liberty, and the pursuit of Happiness" ?

http://www.archives.gov/exhibits/charters/virginia_declaration_of_rights.html

The one that comes to mind here in Nashville is Robert Notestine. He belongs to the local REIN here and has a wealth of experience in this field, and he replies to emails... Join the REIN here and you can get a discount on his services.

Robert J. Notestine III
Attorney at Law
http://bellemeadetitle.com/