Hi BP friends! My husband and I are very excited to have discovered this incredible community!!! What an unbelievable resource!
We live in Nashville TN. I have been a real estate agent going on 5 years now. Been very blessed but want to start using this to boost our investing as well. We have 1 rental that we have had for 6 years now. We have also flipped 1 home. As of now, we think that we want to continue flipping homes and using the profit from these to put down on rental properties. Our end game is to have a rental portfolio that would fund our kids college and support us through retirement (and not touch our retirement accts).
My husband works full time as a project manager for a fabrication company in the commercial building world and we do not want him to stop that. For now we would hire a property management company to run properties. Possibly he would manage them some in retirement as I could still sell homes. Just to keep our minds active and young! Lol
We look forward to getting to know you all in this community and expanding on our plans, learning about the best ways to execute them, or changing them all together if it makes sense! Just ready to learn!!!!
Have a great day!!
Chris and Kelly Kormos- Nashville, TN
@Kelly Kormos Welcome to BP! I've heard Nashville is a really great market right now. Sounds like you've got a great plan, good luck!
Welcome to BP!
Welcome! Always good to see more local people on BP. I'm also an agent in the area as well as a property manager. Let me know if I can help you guys with anything!
Hello from Chattanooga. We go to Nashville often for weekend getaways. Wonderful place
Welcome @Kelly Kormos to BP! I am a General Contractor and new member from the Nashville area as well. This platform is a fantastic resource...Happy Investing!
Welcome to BP and welcome to Nashville! This is very last minute but you're welcome to join us tonight!
4-7pm in Green Hills:
Welcome to BP! I am also from the Nashville area and will be an official R.E. agent starting in January. Looking to invest in buy & hold properties as soon as I startup as an affiliate broker.
Good luck in all your future plans!
Love the plan. I'm a big believer in buy and hold. Unfortunately the numbers don't always work especially in the hotter markets like nashville. That being said, you could maybe go a little further out of the city to get deals that make sense. But the idea of flipping a couple and taking the profits to buy down a property to hold as a rental is an even better deal.
Flipping is a job where the money ends when you stop working. Buy and hold rentals is a great way to build long term wealth. And if you can get to retirement and have even a handful of properties paid off, you will be that much more likely to be able support yourself in retirement without having to dip into retirement accounts.
The one thing I would question is in hiring a PM. Why pay someone to manage the property? You could definitely do the showings - who better than a realtor for doing showings? And then you could hire someone to do the repairs as needed so your husband doesn't have to spend any time.
To me, the savings would be well worth it. Even if you don't want to manage repairs, maybe you could see if the PM company could pull out their fee for getting the house rented and let you do that. Some of them charge a month's rent for getting a house rented. Thats a lot of money for a handful of showings.
Welcome! This site will change your life. Enjoy the ride!
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