Investor · Los Angeles, CA · Member since 2019 · 21 posts · 6 votes
Interested in Nashville rental properties, not sure if a vacation rental is worth it or allowed if you are from out of state, anyone have any information they could share on the matter?
Investor · Nashville, TN · Member since 2015 · 688 posts · 607 votes
6y
@Chino Perez I have extensive knowledge on Nashville STRs and I own them and we manage 17 of them at this time for others. Yes you can own and operate one if you are out of state. You will need to find one on the property non owner occupied zoning: CS, CN, CL, MUL, MUN, RM, OR. RM is however going away in 2022 but if you have a permit it's grandfathered in just not transferable. They are definitely worth it just as long as you're not overpaying which in my opinion is what a lot of people are doing. I would stay away from 1 bedrooms personally, you're essentially competing with a hotel room. The sweet spot would be a 3-4 bedroom. We have units that gross all over the board but some because of the location and product over 9k a month. Would love to speak more with you about STRs!
Realtor · Hendersonville, TN · Member since 2016 · 24 posts · 8 votes
6y
STR are great for cash flow and work in most parts of Nashville. However, they are harder to find for the fact that you can only have so many permits in a area. In saying that, its not impossible! I would be glad to help you out if this is something your serious about doing!
Investor · Knoxville, TN · Member since 2016 · 34 posts · 6 votes
6y
I was in Nashville this past week and heard some interesting information. Nashville just topped the charts as the most expensive hotels in the country surpassing New York and California. I believe short term rentals could be very profitable if you find the right deals.
Investor · Nashville, TN · Member since 2015 · 688 posts · 607 votes
6y
@Chino Perez I have extensive knowledge on Nashville STRs and I own them and we manage 17 of them at this time for others. Yes you can own and operate one if you are out of state. You will need to find one on the property non owner occupied zoning: CS, CN, CL, MUL, MUN, RM, OR. RM is however going away in 2022 but if you have a permit it's grandfathered in just not transferable. They are definitely worth it just as long as you're not overpaying which in my opinion is what a lot of people are doing. I would stay away from 1 bedrooms personally, you're essentially competing with a hotel room. The sweet spot would be a 3-4 bedroom. We have units that gross all over the board but some because of the location and product over 9k a month. Would love to speak more with you about STRs!
Real Estate Agent · Member since 2019 · 167 posts · 72 votes
6y
@Chino Perez STR investment opportunities are definitely worth it here in Nashville, if you can get them. Just like Devan Mcclish stated, you have to buy in the non owner occupied zoning areas, but the city has put a moratorium on them in 2022. If you can get a permit before then they are grandfathered in before that date, but not transferable just as Devan stated. The other option would be owner occupied single family houses (don't know if you have any interest in moving or living here). Look forward to assisting in any way I can.