All Forum Posts by: Michael Sargent

@Dave Villa Clarksville, Dickson, Lebanon and Cookeville (although that's quite far) are all worth looking into. The closer you are to Nashville, multifamily makes more and more sense since the SFR market is so competitive.

I agree with @Luka Milicevic. Regardless, house hacking is typically a great financial decision. You might just need to adjust your expectations for return. There's a lot of long term residual value in Nashville property so if the tenant only covers a portion of your mortgage, you'll likely still be making a great investment decision.

There are a handful of smaller towns within an hour of Nashville that have 1% properties that will ultimately benefit from Middle Tennessee's rapid growth. Completely unfamiliar with Toledo's market but I personally wouldn't invest anywhere that I didn't see population growth, job growth, etc. 

Hi Rami, I've recommended my clients to Matt Harris at 1796 Mortgage. I'm sure he'd love to talk to you about it.

When I moved to Nashville, I was surprised how many people house-hacked. It's very common for people to finish out their walkout basement here and quite easy to keep rented. My sister and her husband currently doing just that. 

Hi Rachelle,

I'm not familiar with Apex but your gut is leading you in the right direction within Tennessee. If you're looking strictly for cash flow, Memphis is a great market and I'd recommend finding a well qualified/trustworthy agent and property management company to find the right neighborhoods. On the other hand, you'll get a great blend of both cash flow and appreciation in Nashville. PWC's "Emerging Trends in Real Estate" Annual report goes into detail about how and why Nashville's growth is rapid, organic and sustainable, and how that creates one of the best real estate markets in the country. The Greater Nashville area appreciated about 26% last year, with some counties being well over 30%. Therefore, in my opinion, if you're looking to build equity, there's very few places in the US where there's similar low market risk and growth this rapid.

I've been telling clients that owning in this market is winning, simple. When an area becomes a sustainable, high growth market like Nashville, returns become increasingly residual. 

Hi Feng,

Unfortunately, less than 20% of homes in middle TN have basements so finding the right investment property with a basement is tough. I'm not sure if that number include walk out basements which are common in older neighborhoods where the houses sit on a slight hill. The concrete backing would create an excellent tornado shelter. Another option would be to buy and install a tornado shelter which can range from 2k-10k. Lastly, off the top of my head, I would say homeowners insurance is typically around $150-$200/m. 

This aged well! The same report shows Nashville now as #1!

Hello fellow BP Members!

My name is Michael Sargent. I am a 21 y/o college student at CSUF (plan to grad Spring 2020) and have been listening to BP for close to 2 years. I have had the great opportunity to become the President of the Real Estate Association at CSUF. As a club, we have great connections to very successful residential and commercial brokers in Orange and LA county but we lack in the investment side (which is the side I personally care about anyway!). SO, If you have a good amount experience in flipping, buy&holds, BRRR method, multifamily or especially super cool things like syndication and you live in Southern California, I would love to talk to you about having you come speak at one of our weekly meetings! Reply to the post!

Personally, I plan on joining a wholesale team to gain quick cash and begin building my portfolio right out of college. Will definitely be house hacking as well!