All Forum Posts by: Alex Vargas

Hey Tim! I'm a local Nashvillian/Realtor/Investor would love to meet up sometime and bounce ideas and goals as well. Feel free to reach out to me anytime and we'll set something up man!

Talk soon!

Where and when is the meet up? I’m not seeing that info pull up on my phone?

I would suggest along with others to house hack at least a duplex. I'm working on an offer currently with a client for a multi family in North Nashville Cash flowing $200/door with purchase price of $150,000, which is Pretty rare in this market. But Ideally a quadplex + renovated garage would be what you would want. haha. You and your friend live in the garage and have 4 units cash flowing at least $100 a door. Finding that is the hard part. But not impossible.

Why not diversify your cash... to me investing into a 400k SFH verses multiple doors doesn't seem like you'd be maximizing your finances but I guess it depends on what your strategy is.

But from what I've learned rule of thumb is Rent to Price ratio minimum 1% of purchase price. So with a 400k house you want to be able to generate at minimum $4000/month. 

Anyways, let me know if you guys need any help as well, I'm a native Nashvillian and can give you some insight on the market and the areas around here. Good luck on your REI venture!

If you can buy a duplex, do it, especially if you’re paying rent. If you’re not paying rent and living for free currently may want to continue doing that. And like they are saying make sure the numbers work! Cash flow. Cape rate. ROI. If they do work and you are either getting paid to live there (rare) or only paying a couple hundred a month, use the money you are now saving from not paying rent to pay off debt, period! Nothing more. Snowball that money and pay your debt off quick. Build equity, pay off debt, nearly live for free. Acquire investment property.

Hey Aaron, 

Congrats on getting started on your REI. I'm a local Realtor in Nashville, TN. My parents actually live in Ashland City and I know the market back and forth having lived in that city for 20years. Its a gem with exponential growth IMO and based off the numbers. Cheatham County has seen double the growth in population in the last year alone! Crazy.

Anyways, I have good relationships with local lenders here in the area That can easily do the 20%, and I would be more than happy to connect you with. Feel free to reach out to me anytime 6155982585. Especially with any questions about AC, or Cheatham. Will help any way I can. 

Good Luck! 

April 7th 2:13pm 2018

Will be there. Looking forward to it!

@Charles Jones

Sounds good. Look forward to it!

Hey @Charles Jones. Welcome to Nashville market! 

The numbers work in the right area. Nashville is very hard to find a good deal and once you find it its not easy to capitalize on it. 

You're on the right track as far as looking at the surrounding cities. There are plenty that are still affordable and have lots of room for growth, including all the ones you mentioned above! 

Another area to look at if you are wanting to stay close to Nashville and is still somewhat affordable is Bordeaux area. I'm looking at a few units there currently that make a lot more sense than areas like east Nashville or any of these other saturated areas.

In the last year Dickson county has seen a growth of 16.29% at number 9 of 14 in Mid TN counties. Avg sales price in Dickson this last quarter was 141k.

Cheatham County which is where Pegram is, has seen 91.18% growth in the last year, leading the counties in Mid TN in growth (these counties are compared to themselves not to other counties). Avg Sales price in Cheatham this last quarter was 257k compared to Davidson county at 349k and Williamson (Franklin) at 479k. 

Feel free to reach out to me if you want to get more info, meet up and find out where the best investment deals are in and around Nashville. I'd love to help you man! 

Good Luck. 

Alex Vargas

@Moises Rafael

Find an agent in your area. Preferably one who specializes in investments and works with investors (In most cases its FREE to work with a buyer agent because commission comes from the listing side at least in TN thats how it works) Thats your first step according to @Joshua Dorkin and @Brandon Turner. And i would have to agree. If they are good at their job they will get you on the path you need to be on to get you REI started.

They should be able to direct you to a solid lender. Make sure to tell them (agent and lender) your situation too. Not best credit, No money, etc.... and like I said, if they know the right people they will be able to direct you to the ones that can help you in your situation. 

I have a a client who has NO credit at all and I have a lender that has a loan program for people with no credit. I have another client who has no SSN so I directed him to a different lender who has a loan program for that situation.

Quick ways to find a solution around the "not best of credit" and "no money", find a Co-Signer or partner like others have mentioned. 

But if I were to go in on a deal with you I would want to see a pretty dang good presentation of why I should. Know your numbers and have a game plan that makes sense when you show other people.

House Hack! If you know what that is than you know if it works for you, if not look it up, its a great way to get started in REI.

Just a few things to get you rolling man. Best of luck. Feel free to hit me up with any questions happy to help.