All Forum Posts by: Leo K.

I'll be there. Looking forward to meeting the man, the myth, the legend @Brandon Turner

@Travis Smith

Hey Travis, it's always cool to meet other local investors. I'm a buy/hold guy as well and invest in multi family properties. If there's anything I can do to help, let me know!

@Paul Altman

It's rare to find 1% deals in Nashville. Although the economy is strong and rents are rising, property values are inflated and there is a lot of buyer competition = low cap rates. You'd have to venture out in the secondary markets to find a clean deal above the 1% rule.

You may want to investigate @Ben Robertsadvice and check out Memphis. Strong rental demand and lower price points.

@Luke G.

Hey Luke, $340k for a duplex is ridiculous in my opinion. Although you're going to owner occupy, I suggest basing your valuation under the assumption that you're not - you want the duplex to be self sufficient. At $340k, it's not going to work and I wouldn't speculate about escalating rents or appreciation - not guaranteed, period...

Nashville is very hot right now and the only way someone will make money on this duplex is if they tear it down and rebuild to flip.

To give you another comparison, I just put in an offer for a 10 unit in Dickson for $300k - only 45 min's from Nashville. For $340k you can get at least 6 units in Nashville if you're patient and put in some sweat equity.

@Elena Jobson

Nashville is very tight. Yields are low and you either need to network hard to obtain properties at good value or venture to the secondary and tertiary markets to get a solid cash on cash return.

@Justin Browne

Hey Justin, it's always cool to meet other local guys! I'm a multi family investor but know several wholesalers if you'd like me to introduce you to a few. 

@Luke G.

I agree - Nashville prices are ridiculous and most duplex owners base their valuation off comps rather than financials. 

I had to expand to the secondary and tertiary markets (Smyrna, Murfreesboro, Dickson, Columbia, Gallatin) for +1% rent-price deals. If you're only willing to buy in Nashville you have to find off-market deals. Direct mail and network with wholesalers, property managers and commercial brokers to find these deals before they hit the MLS.

What's up @Alan Enzo I'm in finance as well. I own a duplex and am in the process of acquiring a quadplex. It's always great to meet other local guys!

@Jamil Hossain

Welcome Jamil. I researched Clarksville a few months ago, I was looking at a few quadplex's and decided against investing there. Mainly due to the reasons @Josh Key outlined above - Clarksville is heavily dependent on the military base. If the troops are deployed or if the base shuts down altogether, bad news for rentals... It just isn't diverse enough for my tastes, I'd rather overpay for a more stable market. Don't mean to scare you, just thought I'd share my 2 cents.

Likely to be around $800k-$1.2MM