Are You Ready To Start Flipping Houses in Nashville?
Finding a hidden gem, polishing it up, and selling it for a profit can be a lucrative and rewarding investment strategy. But, as you might imagine, there is a whole lot more that goes on behind the scenes than many think.
And this is not something I would recommend you do if you haven’t done it before. Hook up with someone like me first — someone who can show you the ropes. After you get one or two flips under your belt, you may be ready to solo. On the other hand, many investors don’t want to solo. They just want to make the money. And let me — or someone like me — handle the tough stuff, like managing the renovation.
I purchase pretty much all of my homes for cash. It’s quick. It’s easy. And it’s good for the bottom line. I have 49 cash purchases under my belt at this point. And I’m on the hunt for number 50!
But if you’re interested in buying, renovating and selling properties, there are two things that are absolutely crucial for success.
- Find the hidden gems. This is much easier said than done. Fortunately, Nashville, Franklin, and pretty much everywhere else in Middle Tennessee is booming. So pretty much every neighborhood has some potential. But don’t forget about the “hidden” part of finding a hidden gem. By the time you start to see progress being made on a certain street or in a certain neighborhood, it’s WAY too late.
- Have a good crew. When flipping a house, execution is everything. If you don’t have a tried-and-true crew working for you, you’re dead. Plumbers, Painters, Electricians, HVAC specialists, Roofers. If you don’t have a good crew that you can depend on to get work done efficiently and inexpensively, you’ll wind up losing your shirt. Over the years I have assembled an awesome “can-do” crew that I use on every project.
Nashville Case Study: Moran Drive Property
I’ve put together a little photo gallery of one of the projects I have going on right now. This is one I bought for cash. It’s not completely finished but this will give you a good idea of everything that goes into taking a home from “Ewwwww” to “Ahhhhhh.”
So that’s where we stand right now. I’ll update this post or create a new one when it’s time to unveil the finished product. I’m very excited about the Moran Drive property. There’s nothing like seeing a home come to life before your very eyes.
I have some others in the works that I will share with you soon. Until then, if you want to take advantage of Nashville’s stature as a “white hot market,” or if you’re a seasoned investor who is looking for a partner, please don’t hesitate to get in touch with me.
