All Forum Posts by: Tyler Gibson

I'm a Student (living on the GI Bill and spousal income/hustling) with about $180,000 in equity in my primary residence (paid off in full). I'm getting ready to graduate in a year, and am wanting to know if it makes sense to use a HELOC to buy a few turnkey properties (2-4 ideally) to build up the portfolio while I'm in school, and then pay down the HELOC to then use it to buy a modest du/tri/quadplex. Our income is sub $60k/year (with the GI Bill income, etc) and we're about a year and a half from being debt free on the cars/cards/etc.

The long term goal is to get into the multifamily space and have that be my primary gig, but I'm cautious about moving forward too quickly and losing  the house I'm in now.  Short term is to get a 9-5 on graduation to carry the income until we hit a number where RE can become the primary gig.   

Thanks!

You are correct about the market varying widely mile to mile around here!   There are deals to be had in North Nashville, but again you have to be picky about which specific street and neighborhood whichever property you're looking at is on.  It makes the preliminary research phase of deal finding a few hour long process per property, if you really want to get into it.  

That being said, there's some great opportunity in Columbia and some still in Spring Hill, and in the surrounding areas- but there is opportunity for great appreciation anywhere along i65 IMO- though you'll have a hard time finding many deals with a high Cash flow. 

There's a REIN group in Nashville proper which seems pretty active.  I just recently bought my first deal (Live in flip) in north Nashville off Trinity Ln- and in the last 6 months the property values of those houses around me have gone up by about 10k, based on what they're selling for.   

What are your specific goals? Are you looking for a buy/hold rental SFH, a Multi-Family, or are you looking to flip? I'm currently looking for a flip now, and would absolutely love to have someone else on the deal to make it go that much more smoothly/painlessly.

For SFR's, there's some good forclosures in north Nashville, but the market really seems to change mile by mile here, and where I'm at, half mile by half mile. For example, there's serous appreciation happening where I'm at (C+), and it's significantly hotter just a quarter mile down the road west of here (B, but half a mile in the opposite direction is a C neighborhood that is not experiencing any growth.

I drive a '99 Toyota Tacoma, this sucker floated across my yard during Hurricane Katrina when I lived on the MS Gulf Coast.   It's beat up, but still runs like a champ- I'll be driving this until the wheels fall off.  

The Wife just traded her '06 Accord for a '15 4runner.  Don't like having a payment, but it's significantly more comfortable to travel in than the compact sedan! 

Welcome to BP, the community here is outstanding!   If you're looking for a more pointed group, the Local forum for the Nashville area has some great folks in there.  I'm coming in blind, but have gotten some great advise through the community here- Need to get to a REIN meeting myself. 

Hello all!  

Anyone out there spending any time in Nashville or the surrounding areas?  I'm getting pretty close to having a good warm and fuzzy on buying my first property, but I'd like to sit and talk with someone who has a better understanding of the game, so to speak.   I'd be more than happy to buy lunch, and pick your brain a bit.  

Thanks!
Tyler

Good luck in the Nashville market- should be good pickings.  That's the area I'm wanting to get my first quad in. 

I've recently reached out to a few local REIA's and some friends of the family that have been flipping houses in Nashville- hopefully something will shake from the trees. I'm hamstringed financially, but certainly want to put in the leg work! Thanks for the advice, everyone- everything helps!

House hacking is looking more and more like the only way to really breach into the REI path for me at the moment, and the VA will insure the loan in that case (theres a 4 unit property in Memphis for about 600k that I've been looking at). Budget is limited on my end, which severely hamstrings my efforts. I've had an offer in the past to have a family member finance raw land for about $70-75k, which would put my comfortable budget closer to 80k assuming it works in my favor.

As for starting out with so little capitol, the only way I figure to make a purchase is with significant commercial loan and seller financing, and no small modicum of good luck. 

Hello all!  I'm a 26 year old Vet, current college student, and brand new to the forum, and have been looking into starting my real estate portfolio for about two years now.  I'm looking for a multifamily property (no less than 4 units) within a 3 hour drive from Nashville (Looking at Memphis at the moment).   Ultimately, free cash flow after setting aside 10% into a repair fund will go to finance more investment properties, etc. 

I have about 10K saved up, another 12k in the stock market, and good credit- I just have no idea if this plan is feasible.   Granted, math isn't my strong suit, but the deals keep coming off as "Too good to be true".... So, I suppose the question is "Can it be done, or should I wait 3 years to raise another 10k?"