Are people still able to do full BRRR's in Nashville?

Question

Are people even still able to do full BRRR's in the Nashville area? Rates are still high and the only properties I see that have any cashflow are way up in Clarksville or 2 hours out in the backwoods. Most of the duplex properties I've looked at barely make the mortgage payment let alone have anything left over.

Ko Kashiwagi · Answer

Hi Wayne,

I've helped refinance a couple of deals in Nashville at 75-80% LTVs last few months. Typically they are super tight on DSCR but still work close to 1.00. I'm not sure if you mean "full BRRRR's" means to cash flow well but just to refinance at a high LTV, deals are definitely out there.

Andreas Mueller · Answer

Only if its new dev or uber distressed.

But why do you need to?

If you have other income all you need is 70% of your money out and pair that with your other income. Can still scale with BRRRR.

Myrna Gourgy · Answer

It’s definitely not as easy as it was a few years ago, but full BRRRRs are still happening in the Nashville area. That said, it’s not your typical MLS deal anymore. You’ve got to be more creative in your lead sources and underwriting.

A few things I’ve seen that still work:
Off-market deals (especially tired landlords or inherited properties)
Novation opportunities where you can lock in equity without needing to close first
Heavy value-adds in up-and-coming pockets just outside the core (like Madison, Bordeaux, or even parts of Antioch if you can get in right)

The key is going in with enough spread. Most duplexes on-market don’t have it, you’re right. But if you can find something where ARV is strong and you're buying deep, with a solid plan for rehab and refi, it’s still doable. Just needs tighter numbers, more cash up front, and a longer runway for your exit strategy.

Clarksville’s been a go-to for cash flow, but even that’s getting saturated. If you’re open to partnerships or leveraging private/hard money, you can still make it work closer in.

Happy to connect if you're actively looking. I’ve been navigating this market and know a few folks doing some interesting deals right now.

Andreas Mueller · Answer

To get 100% of your capital out you have to do highly levered and full reconstruction, in nashville or otherwise really. It's not 2011-2021 anymore. We were spoiled on historically low interest rates for 10 years.

No longer.

If you can get 60-80% (I usually shoot for 70%) that is a win. Pair that capital with money you are making in your w2, real estate, other income and do it again. The BRRRR is still alive, just have to adjust.

Luka Milicevic · Answer

Possible....yes. Difficult....absolutely.

If you're breaking even on an LTR in Nashville you're doing well.

The only way to make cashflow in the Nashville market is going to be to put a sizable downpayment on a property or have a really well run and well managed STR or MTR.

The Nashville market went from cash flow to now a safe place to put your money. In my opinion still a great place to invest given the massive influx of jobs and development that is poised for the area.

I'm currently doing STRs and build to rent for rental income and flips/build to sell for active income.

Are people still able to do full BRRR's in Nashville?

Are people still able to do full BRRR's in Nashville?

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