Duplex (Investment Property) in Nashville, TN

Nashville, Tennessee has become one of the top relocation destinations in the United States. Over one million people per year are moving here from metropolitan areas such as Los Angeles, San Francisco, Chicago, New York and Miami.  New construction is going up all over town and is remodeling the city, bringing in massive amounts of wealth.

I am seeking funding to improve two properties in Nashville.

House 1: I am seeking $150k to renovate a single family home with a detached guest house and repay a private lender who fronted me the down payment. The front house (currently vacant) rents for $1800 a month and the rent could be exponentially increased with a remodel of the home. New homes are being built in the area and I would like to be a part of the gentrification and remodel of this area. The guest house on the property currently rents for $1250, and this rent will also go up with a remodel. It is a cash positive income property but I have not had luck flipping it because the flooring is crooked and there is only one bathroom. I've also received feedback from prospects that it is in too good of condition for them to warrant their own profitable flip (they are looking for a total rehab which this is not because I've already put $30k of work into it). 

Note: The previous owner of the houses lent me $54k to go towards the down payment and I have been paying him back at 4.5% interest only since November 2022. My balloon payment of $54k is due to him in October 2024 and I must receive this in order to remove him from the title. 

Here is the current property listing: https://redf.in/GBEKs7. With your investment I would take it off the market (I am only selling it to pay back the private lender but prefer not to sell it).


House 2: I am seeking $150K to renovate a duplex to fit in with the updated surroundings of the street and town so that I may increase my rents and achieve 100% occupancy. Additionally, I owe $50k to a family friend who lent me the money as the down payment when I purchased the property in 2022. I would like to refinance out of this private loan and consolidate it in with this construction loan/renovation project. My note to her is due in May of 2025 however I would like to begin this process sooner. This duplex is in 37207 and is surrounded by renovated new construction. It is booked all year long through AirBnb and brings in over $4300 per month.  

Here are the Airbnb links for this duplex:

Unit A: https://www.airbnb.com/rooms/796584968016103403

Unit B: https://www.airbnb.com/rooms/699535455381367598

I have been a very successful private (tiny but mighty) real estate investor since 2005. I own two other properties as well (my private residence and one more duplex). My credit report shows all mortgages and bills paid on time 100%. However I have invested so much of my own money and available credit that my DTI is at 75% so I am not able to get approved for a traditional construction loan. I have future plans to purchase an apartment building and also open a video production studio and theater here in Nashville, TN. I would love to connect with an investor who understands and appreciates the growing Nashville market and has the heart to partner with a female entrepreneur who has a 100% success rate and cares very much about her community.

Thank you. I look forward to connecting with you soon.

To learn more about me and my life outside of real estate, please visit elysiaskye.com.