Newbie in Nashville, TN
Dont shoot me, but I have owned a duplex(no mortgage) for the last 10 years and probably havent rented the vacant side 5 years. Long story, but I have def learned a lesson. Burned so many times I just didnt want to deal with it. Well, now I have no income and decided to go back to school. So guess what, I'm going to try to be a landlord again.
While doing research, I think I maybe interested in obtaining more property and managing it on my own.
Would love to find a mentor in the Nashville area for my first REAL rental.
I am in the process of trying to fix up the 2/1.5 duplex now with a limited income.
But I am so glad I found this forum! I should be studying, but this place is addictive. Looking forward to chatting with everyone.
Most Popular Reply
Congrats on owning a piece of property. That is a good start. I will give you an easy way to get it goin without a lot of capital and management. I would do a master lease on the entire thing, and charge a little less than you would get for both sides. Tell the new master lessee that they need to fix it, maintain it, and rent it. they get the opportunity to be a landlord without having to buy the property. They can live in one side much cheaper than if you managed it. I am glossing over a lot of details, but if you would like a detailed plan, I will gladly give you 15 minutes on the phone to go over it with you.
There is a lot to go over, and not exactly sure on the condition, neighborhood, and pricing. if you want to put more detail, I can answer more.