All Forum Posts by: Eric L.

@Adam Lowe sounds like your be better off doing a BRRRR. Buy and holds are better long term, but flips can make cash. The question is are you planning on partnering with someone experienced in flips? They CAN be tricky finding the right deal for a first flip. Might be good to find someone with experience, give them a cut for helping you find it, then cash them out at the refinance.

Either way, its important that you decide what your strategy is if this is your first deal. You dont want to take on too much.

@Larkin Briley

Might be better to find a place in Ashland city before that explodes, or near where LG is coming.

@Larkin Briley

I would try to stay out of turn key if possible. Nashville is overpriced in my opinion. I'm a realtor in clarksville and there are many people paying too much in clarksville as well. I would not buy on appreciation speculation. I think the Nashville market will still get higher, but with the rate if supply increases, things will eventually change. I would look for a BRRR, or find something close to a 1%.

@KD CHEATHAM I'm up in clarksville but close. I'm an agent/investor, mostly dealing out of state buy and holds. I plan to house hack locally.

Goals are to move in to small multifamily. I'd like to push out 60 offers this year. Currently away and not able to do much business but when I get back I'll start that. Which is why the number is low.

@Nicholas Earls did you find a portfolio lender? I'll be looking for one as well very soon in the clarksville/nashville area.

@Chris Templer

Investor/Agent just up the road from you in clarksville. Would love to do a meet up sometime. Currently away until summer.

@Joe Callantine

I had this tiny home community idea years ago. I was able to talk to the city about it and got shot down. Now, almost 5 years later, the city is actually helping a developer with this same concept.

My point is, sometimes it takes time.

@William Allen

Definitely want to attend in the future, but currently away.

@Brandon Holley

The house you are renting, is it a lease option? Can you work a deal out to make it one? That would be a better option depending on the price. Its always good to come with several offers. Let the seller pick what's more beneficial for them, as long as those work for you. For instance, owner financing at 100% of asking price. Conventional financing at 90% asking price + or - closing costs.

Tons of options out there.

Can you use the BRRRR method on any of the deals you are looking at?

@Jay Hinrichs

The bad grammar doesn't help, but who knows these days.

I did fall into an up front money trap myself which was recommended here on BP. I say trap, but it probably wasnt. I just didn't realize the terms weren't going to work with anything I was doing.

Solid post. It's a struggle looking for private investors, trust is a big issue! I've stuck with banks so far but with 4 loans now, I might be forced elsewhere soon.