All Forum Posts by: Aaron Lovett

For flips, if you are patient and realistic there are deals to be had, even on the MLS. The bedroom communities around Nashville/Murfreesboro are solid, Clarksville area too.

Brenda, as you know, this is as much a lifestyle question as it is a financial one.  Dealing with serious health issues in the family is a mental, emotional, physical, and financial strain.  Putting the financials aside and considering how you want to spend the next 5-10 years... where do you want to live - how close to family?  Do you want to keep substitute teaching?  Do you like the idea of being a landlady?  In a nutshell: If you had 80k in the bank and no ties, where would you go and what would you do?

From the financial side - there's a good chance rates will be down to 5.5% in the next couple of years - but they could just as easily increase. If you get out of the ARM you stabilize your payment for budgeting purposes - and be alert to refi when rates do come down. We're not at the Middle TN market high of May 2022, but the value of your house isn't decreasing as long as you keep it in good repair. That's just the reality of the Nashville area. So if you hang on to it, you keep building equity. But you have to eat and take care of other expenses...

I'm trying to imaging my mother, who is about your age, becoming a landlady. If that excites you - great.  But if you're just doing it to hang on to the house, you have to consider all the pros and cons.  You might have a happier time selling and moving in with your son or buying the RV.

It's also possible you could sell for more than you think, which would enhance your options if you decided to sell (nicer RV, more money for a rainy day, etc.).

Cory, how did your situation work out?  As Jonathan stated above, as-is means nothing.  (Well, unless it is defined within the terms of the contract.)  

Look me up next time you are in the area. I don't think you can go wrong with Murfreesboro as a rental market in general, but Julie's warning about having an exit strategy in case STR regulations interfere is spot on. Murfreesboro population growth is expected to continue - it's one of the fastest growing cities in the country. There is support at the city planning level for increased density - more multifamily complexes are being built and many units are being bought in bulk as long term rentals. You don't have the same STR regulations as Nashville, although that can always change anywhere. Give me a call or text and I'll share my property manager's info - he'd be happy to talk with you.

Pocket Listing - grab it before we put it on the MLS: Contact [email protected] for details.

3326 McBrides Branch Rd. Beechgrove, TN 37018

11.23 acres (Tracts 3 & 4, seller will not divide)

4 identified field line sites - see attached survey

Natural spring

Multiple good building sites

Improvements:

Utilities: Water and Electricity on site

Access: New gravel driveway

A 4-bedroom septic system has already been installed and permitted

There is a recently renovated single wide on a permanent foundation on the site as well. This could make a good staging office while constructing a site built home, among other possibilities.

Asking $120,000.

Ben Boyce is a good man for that sort of job.  Search Boyce Builders on facebook or PM me for contact info.

Builders? "If you build it, they will come, and pay a premium for the pleasure of living there." Builders can't keep up. Yes, DOM for new construction is significantly longer - one reason being that they get thrown up on the MLS before ground has broken... Nashville is also a very different market for builders than Rutherford county. In Nashville, we look for zoning to allow building two SFRs on one lot. Fortunately we have more land to work with just 15 minutes away. =) Nashville is also dealing with some housing affordability and gentrification issues - when all the builders are trying to tear down the older homes and put up modern mansions, things become complicated in the big picture. It's an interesting place to be in real estate!

I've seen some ridiculous prices on lists, but you should be able to find something around  @Account Closed's $120 mark I would hope.

Yes @Mike H., it's a little nuts here in middle Tennessee right now!  2 is for the past 30 days in my target market.  For all of  Rutherford county, it was median 5 DOM.  That's even faster than in Nashville-Davidson County (next county over), where median DOM was 13.  Median DOM for both counties, going back 12 months, is 8 days.  Yeah, nuts.

Hey @Jason Young, check to see if there is a local RE investors club or meetup group in your area.  There's probably someone local who aggregates this info regularly and sells the lists.  Where the county website is tedious to manage, this can be a more efficient use of your time.