All Forum Posts by: Steve Frye

@Chris Maurice I know we've connected previously but I wanted to mention to you a few options. Both are in East Nashville and a little more expensive. One is $450k but is essentially a triplex that can generate around $4k per month, more if you STR out of one of them.

The other is a home with two separate living spaces with separate entrances.  One up and one down.  It also has a full recording studio in the back of the house.  Price is $500k and all 3 currently rent for close to around $4,500/mo total.  

@Ray Johnson it will be difficult in Metro Nashville to find a class A or B property that’s under $250k without going out to the suburbs or rural areas which you said you don’t typically do.

Outside of Metro Nashville I know of a few properties that would qualify for the 1% rule.

@Christopher Surber Welcome to the Middle TN area.  Lots of demand for multis around the Nashville and surrounding areas.  Tough to cash flow in the metro Nashville area since it's hard to find anything reasonable that doesn't need LOTS of work and even then the numbers aren't great.

I've been looking at Multis quite a bit in the last few months for other out of market investor clients so I'm pretty up on them.  I also have a few connections that just find and represent multi units only so they're a great source for me as well.  

I'll DM you more info.

@Bob Mueller Jr. Sure thing. I’ve got a pending connection on here sent to you.

@Bob Mueller Jr. there is nothing in place that says you need to spend a certain % of time in the home for it to be OO. I think the assumption is that you live there full time. With that being said, having utilities and a car registered to that address are helpful as proof of living at the property.

There are commercially zoned STR developments around town that fit the criteria to receive a non-owner occupied permit and are marketed that way. I just sold one to a client yesterday. These are typically townhome developments but also sometimes condos.

Hey Elizabeth! I'm an investor and agent in the Nashville market specializing in investment properties, both STRs and LT (flips, BRRRR method, etc). Most affordable multi-family units in Nashville are in some sketchy areas but not always since there are some of those areas going through growth and renovation. That's also why you look outside of Nashville in the overall Middle TN area.

Several areas that have good opportunities.   2-4 doors and up and even some good numbers on mobile home parks.  I’ll DM you. 

@Mike V. I think you're spot on. They've partnered with a company called Niido here in Nashville to take over a downtown hotel and turn it from residential condos to one thats permitted for STRs across the entire development. They LT lease out the units and let people turn around and STR them out for a profit. They might require the lessors to use their PM and cleaning services but I'm not sure.

Good approach for some without the high equity commitment but it's funny that the same city that banned any further NOO STR residential permits (you can do them on commercially zoned lots), totally green-lighted this huge project.

@Luke Carl Ha dude!  That's the quote of the year.  

On a side note, I didn't think Airbnb had their co-hosting program any longer.  Seems like they've been pushing to get into the Property Management biz themselves and killed that as an option.  At least it looks that way here in Nashville.  Maybe I'm wrong though.

Hey Amit. I'm a local investor and realtor that focuses primarily on the investment market here in the middle TN area. I own a few STRs but most of my clients are investors looking to do both the BRRRR and flips as well as a few commercial leases. I also work on the side doing some real estate analysis and have a 20 year prior career in the Healthcare Finance and investment arena. I'll DM you.

Absolutey listen to Luc and Avery!  Years of great advice with both of them.