All Forum Posts by: Brandon Cobb

@Devan Mcclish Devan, correct me If I am wrong. Nashville considers any property type you don't live in with 4 or less units to be a type 2 STR even If It is zoned Cl, CS, MUL, RM, OR, IR. To get a type 3 STR permit It would have to have 5 or more units from my understanding. These are rarely ever zoned R or RS anyway. In other words, the only way to get a non-owner occupied STR would be to buy a property with 5 or more units to qualify for the type 3. Am I missing anything? Very interested in doing a project like this and would love your thoughts.

I just came from the codes department today In Nashville. They have stopped issuing permits for type 2 STR in residential areas. Basically, anything zoned with the abbrevation "R" or "RS" at the beginning will not be given a type 2 permit.

(Type 1 = Owner occupied, Type 2 = non-owner occupied, Type 3 = multifamily.)

However, If you find a property that is not zoned residential (most likely commercial) then type 2 is fair game. 

Type 1 and type 3 permits are alive and kicking. You will have to jump through some hoops regarding taxes and fees but It may be worth it. Nashville is currently rated as an A+ market on airdna. The demand is through the roof and many properties are doing very VERY well. This is due to the demand for tourism. The hotels in Nashville are charging some of the highest rates in the county and this demand is pouring over into airbnb. 

However, Nashville was suppose to vote on October 3rd 2017 to phase out all type 2 STR over a 3 year period. That vote just got punted to January. The word from those close to the council is that they will more than likely move forward with this. They have a special committee that has been looking into airbnb to decide what should be done. That being said the state legislature has already stated it would overrule any decision to ban airbnb's In Nashville so everything is up in the air and nobody knows what will happen.

My plan is to buy a multifamily property, live in it, and airbnb the other units. Mr. Codesman has stated that these other units would technically have to be type 2 but who is to say I am not occupying the entire premise? It is another gray area and who knows if they will actually give me a permit. That is my dilemma.

Hello Everyone,

I think we all know the value of bringing a mailman on board your bird dog team when hunting properties. 

What strategies do you employ to successfully bring your mailmen on board?

Right now, I am using SPOTIO. When I see a mailman, I briefly introduce myself  and explain how I am partnering with other mailman and paying $1,000 cash to every lead I end up purchasing. I explain how it only takes 11 seconds to put each home into the app and they can make $5,000 - $10,000 extra per year. After sending them an app invitation and handing off my business card they do seem excited about the opportunity. The problem is my conversion rate is pretty low. Given how valuable these people can be to my business I want to increase my conversion rate. 

How are you all doing this with success?

I have since started putting flyers on the trucks at postal offices explaining the value they bring and how they can make extra money. (If there are legal implications on this please chime in.) I figure every 100 flyers I pass out may produce 5 interested individuals. 

Has anybody experimented with this before?

I am going to start selling the lunch appointment with them rather than go full into the plan when I introduce myself. I think this may yield better results.

What are all of your thoughts?

Cheers!

Brandon