Flip vs. BRRRR (Nashville, TN)
Hey All,
I just wanted to pose a question out for everyone to get the pros and cons of this property that my partner and I are about to close on.
I know this gets posed a lot, but for this property itself, here are the details and numbers:
- Nashville, TN, $205,000 Purchase Price
- Agent Listed property as 3BR/2BA, but it is technically a 4/2.
- Rent for this area (not the greatest location) for a 3/2 range from $1500-1700 for this property. For a 4/2, $1700-2000. For a 4/3, $2000-2200. (Rough estimates)
- Recently renovated, no major upgrades needed. *We want to add a 3rd full bath upstairs for roughly $10,000.*
- Comparables for 4/3 are somewhere around $275k-$300k.
Please let me know what you think. Due diligence period is coming to an end here soon and what to hop on the bathroom addition ASAP. If you have any further questions, please let me know.