All Forum Posts by: Jacob Gomes

Do you have a loan on the property?

Short Term Rentals in Nashville. Massive supply and demand economics which give them massive appreciation potential. 

Check out the local preferred agent that Bigger Pockets recommends!

Read the Millionaire Real Estate Investor, Rich Dad Poor Dad, and Richest Man on Babylon. 

From there you want to house hack a 2-4 unit property with. 3.5% FHA loan and live there for a year until you move out and rent out the unit you lived in. Then buy a single family home with 5% down, ideally a 4 bedroom or a place with an in law suite. Live there for a year. Then purchase a NOO STR eligible condo and live there for a year. Once you move out, airbnb it full time.

Getting acquainted with the non QM stuff is key. Every investor has to get creative once their portfolio gets past a certain point. Make relationships with lenders who have copious programs for your potential circumstances. 

I'm a big fan of partnering up with other investors. There are a ton of people who have funds but don't want to do any work. Cultivate relationships with them and offer to be the sweat equity while they're the financing partner. 

There are a ton of investors who are looking for quadplexes in Nashville, unfortunately quads tend to be rarer than in a lot of other cities. I'd take your funds, find a partner on these forums, and go into an investment together. You can structure the deal based on who's doing most of the work/who's putting up more capital. 

Once you figure that out, MOVE QUICKLY! Competitive properties still sell fast. 

Look at the Glenncliff, paragon mills, woodbine area. There are still a ton of 60s/70s, brick homes that are being bought to be torn down and redeveloped. Over the next 5 years I'm super bullish on that area. 

East Nashville is already pretty expensive but isn't slowing down at all with the Oracle development just across the river. 

Just outside of East Nashville is Madison, still kinda rural but homes are affordable and I'm seeing a lot of money start to get interested in it. They have big plans for that city. Check out their plan

Movement Mortgage just rolled out a program for this. I believe its 70% LTV that they'll lend on. DM me if you want me to connect you with my local guy.

Even if you're barely cash flowing from the property, maybe it makes sense to hold onto it to keep your tax burden lower until the market is in a place for you to make a somewhat decent return on your sale.