Looking for first rental property/house flip opportunity in Nash

6 Replies

Working as a property manager I have developed a passion to be my own boss. I am ready to take the first step in what I hope will be to build a property management company. I am interested in purchasing to either rent immediately or flip and sell. Looking for advice on how to choose a direction, hot neighborhoods in the Nashville area, vendor suggestions, etc.
@Lindsay Butler Hi Lindsay, I have invested in Franklin and did OK for my first flip (not profit wise though). I am also looking for investments in Nashville, there's a few areas I hear of. Depends on what exactly you're looking for - what strategy. Do you want to rehab and rent or just buy to rent immediately? Either way try and follow the 1% rules, which means these days you'll have to find value. Find some wholesalers and keep an eye on their properties.

Hi @Lindsay Butler ! I'm a local Nashville Investor and specialize in helping new investors go down the right path for success. I'd love to see how I can be of assistance. I'd be happy to speak with you any time. Please reach out! 

@Lindsay Butler , I love how BP members help out. I would use your customers as your network. I called property management companies in the town where I wanted to invest and asked them if any landlords wanted to sell their properties. You have owners with off market deals right there in your own company. Where are most of your clients investing? I always work on the low hanging fruit. You are in a perfect job to become an investor and to run your own business. Best of luck.

Darrell

@Lindsay Butler I think @Darrell Bratton is absolutely right.  You have the amazing advantage of knowing which streets in your neighborhood are able to secure long term tenants. You might even know which owners are sick and tired of being landlords even if they use a property management company.  Your employer also probably has an extensive list of contractors they use for certain jobs.  Just start thinking of how you can leverage each and every one of these advantages, set up your long term goal, and work backwards from there.  

My mom and siblings both lived in Nashville/Franklin for a few years and I got a chance to see how much change is going on down there. It sounds like your experience would lend itself to studying the tried and true BRRRR strategy if you haven't already. A combination of utilizing renovation skills and managing a cash flow producing property long term.

Best of luck!