All Forum Posts by: Jamie Parker

Patrick Martone I like the ideal that you have for plan A then plan B gets you to plan A. In a market like Nashville, there is great appreciation that will allow to hold properties while cash flowing if you buy them right. I'm from Memphis but I'm am venturing into a sister market(Birmingham) with a partner to access less expensive deals that cash flow as well but there is little to know appreciation. Nashville is a good market with many deals to be had. Sub markets of Nashville are growing. I would be interested in understanding what type of neighborhoods b-/b+/c-/c+ your looking to flip/rent? I would be interested in speaking with you if Nashville or Memphis makes your cut for places to move to.

I am currently working in both markets. Since the beginning of the year i have been working in Birmingham but have been in Nashville for a year. What type of investing are you looking to do?

I'll be in Birmingham this weekend. I would i like to connect if you are available. 

Do you work with wholesalers, or do you source your own deals?

Hey what's going on! I'm a wholesaler would like to connect with you.

I started in real estate in January as a wholesaler. I have done two deals on tear downs. The trick in nashville is finding a deal where you returns are on the low end 15%for new construction. Now if your looking for rentals if you are using property management, you can buy for 85 times rent (rent=1k, 1k*85=85k purchase) rehab then rent at 1% and cash flow decently depending on area. A couple investors I know are building rentals vice flipping for profit. Be its all int the numbers! Good luck if you need anything.

That is awesome that you are taking on a nearly coast to cost transaction. Im still very new to the business in Nashville with only 2 deals under my belt. I must say that returns on this sound very slim, at best you are looking at a 1% on your cash and renting below a 1% on the purchase. I would be interested in what part town this one is in but i could probably guess (west Nashville but i may be wrong). The MLS out here is are for people looking to pay market price, if you are looking for something closer to 1% rule (purchase @100k rent for 1k or .7%-.8 vice purchase @500k rent 2100 best case is 2100+1400/500k=.007% ) there are many investors that could get you better deal than that one from the looks of it.

I will say this if the lot is able to be used for 5-10 units as a new construction build then 500K may be warranted. In Nashville new construction is whats going depending on your area you are buying. I hope this provides some insight.  

I have recently upped my mailings to some high end zip codes 37215/37205. I have received many calls and even met with a seller that is actually interested in utilizing the investor purchase route, if the numbers work of course. I am wanting to get some clarity on valuations at the $1M+ range. From want I understand the same rules apply (70% rule and so forth). But is there anyway to add value to SFH over 1M? Or does the market simply dictate what value is available.

I would be interested in getting more information about this. Pm me

I would suggest to figure out what are you willing to use your arm and leg to pay for as well as what type of return are you looking to achieve (cash flow wise). There are investors here in nashvilles hot market buying properties at a deep discount. While the prices may not be at the Memphis price, there are good deals around. You may have to be more patient to ensure that you meet your criteria but if believe once you get your first rental at the right price your a BRRR strategy will keep you rolling.