BRRRR ("fix and rent") in Nashville area

[Eric P.]

I'm curious if BRRRR ("fix & rent") works in the Nashville metro area. Essentially, the ability to have your purchase price + rehab costs <70% of the ARV, so after you rehab you can find tenants & then refinance to get all of your cash back. I'm sure there must be some areas / neighborhoods where this works? Of course, the other requirement is that the rental income is enough to cover your mortgage + expenses on the back-end. So this tends to work best in middle class neighborhoods.

Are there any licensed real estate brokers / agents who can help me find such properties? Not interested in Turnkey btw - I'd rather buy pre-renovation (not post-renovation) to capture the equity myself.

[Luka Milicevic]

Of course it works! In my humble opinion-it's the best strategy.

You wont find these deals on the MLS and you more than likely wont find them through an agent. You will have to either get those deals through wholesalers or do your own marketing.

If you're looking in Nashville proper then you're going to have to look REALLY hard and you're more than likely going to get outbid by a developer because the properties are generally worth more to them than to a buy/hold investor. 

If you're looking in greater Nashville you will have a higher chance of finding the type of deals you are looking for.

Just my opinion.