Archived

This topic is now archived and is closed to further replies.

Richard Lawson

Downtown condo flippers

50 posts in this topic


It costs $240,000 a year to live in downtown Nashville?!?!??

Share this post


Link to post
Share on other sites

Great article, Richard! I was happy to read that only about 10% of the Viridian units are being "flipped" right now. It's amazing how prices seem to be escalating, but it seems to me that a ceiling will have to be reached fairly soon.

Share this post


Link to post
Share on other sites
I wondered what in the world you were talking about here. But then I looked back at the clip and saw what you meant. I didn't even know it came out "a year" until I looked at it. No ... $240,000 for entry level at this point. John slipped that question in at the end and should have corrected.

Share this post


Link to post
Share on other sites


There should be a law against this flipping crap, some people actually wanna live there, but you have to just buy and then sell to make a buck. Heres a piece of advice, GET A REAL JOB AND QUITE TAKING THE OPPOURTUNIIES AWAY FROM THE PEOPLE THAT WANT TO LIVE IN THE GREATEST CIT IN THE SOUTH'S CORE.

Share this post


Link to post
Share on other sites
* No one has successfully flipped a unit yet, but three units are under contract.

Share this post


Link to post
Share on other sites
There should be a law against this flipping crap, some people actually wanna live there, but you have to just buy and then sell to make a buck. Heres a piece of advice, GET A REAL JOB AND QUITE TAKING THE OPPOURTUNIIES AWAY FROM THE PEOPLE THAT WANT TO LIVE IN THE GREATEST CIT IN THE SOUTH'S CORE.

Share this post


Link to post
Share on other sites
There should be a law against this flipping crap, some people actually wanna live there, but you have to just buy and then sell to make a buck. Heres a piece of advice, GET A REAL JOB AND QUITE TAKING THE OPPOURTUNIIES AWAY FROM THE PEOPLE THAT WANT TO LIVE IN THE GREATEST CIT IN THE SOUTH'S CORE.

Share this post


Link to post
Share on other sites

Last I heard there are now almost 45 units offered for sale in Viridian. Anyone know how far along they are with initial closings ?

Share this post


Link to post
Share on other sites

Good article on the front page of the WSJ today about how speculators fueled (and damaged) the condo market in FL more than previously thought. It also provides interesting insight as to one might take advantage and profit on the mistakes of the lemmings caught short.

Share this post


Link to post
Share on other sites

Does anyone know the time limitation for the "affordable" housing units in the Viridian?

I know of a student who applied for one of those units while still in college. Of course she met the criteria - she was a college student!

After one year out of college she got a job that put her income beyond eligibility for affordable housing. Now, you and I are paying for her apartment and will not share in the incredible profit she will make when she is able to sell it on the open market.

I'd rather see affordable housing give aways means tested before regulating anyone's ability to buy and sell on the open market.

Share this post


Link to post
Share on other sites


Does anyone know the time limitation for the "affordable" housing units in the Viridian?

I know of a student who applied for one of those units while still in college. Of course she met the criteria - she was a college student!

After one year out of college she got a job that put her income beyond eligibility for affordable housing. Now, you and I are paying for her apartment and will not share in the incredible profit she will make when she is able to sell it on the open market.

I'd rather see affordable housing give aways means tested before regulating anyone's ability to buy and sell on the open market.

Share this post


Link to post
Share on other sites

Yes, those of us who purchased affordable units [Viridian or elsewhere] must live in the unit for a specified period of time. If the unit is sold before the time period is up, the buyer typically must pay back a pro-rated amount of the TIF or other grant money received for the down payment. Income level only matters when qualifying for the unit. It's totally fair. You can't be faulted for a jump in salary after making the purchase, especially if it's unexpected [my case]. I didn't buy my unit to flip it anyway, at least not in the short term.

Share this post


Link to post
Share on other sites

I have to disagree when you say it is fair. The system is generous to developers and harms those of us who have to pay for it. Why should I care if a downtown tower like Viridian goes up? The TIF system has many flaws, and this example is one of them.

Share this post


Link to post
Share on other sites

What is a better solution for providing affordable housing? Private sector?

Share this post


Link to post
Share on other sites

If you qualify for assistance then great, that holds true to any number of subsidized programs and the point is supposed to be that you move on to bigger and better things because of it. Our society has always footed the bill for this and I don't see why this should be any different. (I actually can't believe I just said that being a life long Republican)

Share this post


Link to post
Share on other sites
There should be a law against this flipping crap, some people actually wanna live there, but you have to just buy and then sell to make a buck. Heres a piece of advice, GET A REAL JOB AND QUITE TAKING THE OPPOURTUNIIES AWAY FROM THE PEOPLE THAT WANT TO LIVE IN THE GREATEST CIT IN THE SOUTH'S CORE.

Share this post


Link to post
Share on other sites
What is a better solution for providing affordable housing? Private sector?

Share this post


Link to post
Share on other sites

Ah yes, as we all know, regulation equals a Communist society.

Share this post


Link to post
Share on other sites

Ahem.......we need to stay on topic and away from political/economical philosophical debates please. Thanks.

Share this post


Link to post
Share on other sites
YES, the private sector. It's called Smyrna. For some people, the real cost of living downtown is out of their price range, therefore they do not deserve to live downtown, and the rest of the davidson county tax-paying public is in no way obligated to help some overly-ambitious lover of downtown live in their favorite place. The governments job is not to make people's housing dreams come true. The government's job is to keep you from being murdered or robbed on the way home from work - and if they've done that you should consider yourself lucky to have a working government and figure out for yourself where you're going to live based on your financial means. "Affordable Housing"??? Hell no, that's not even a real concept!! There is only "Housing", and you can either afford it or you can't. Reality check people! Nobody is responsible for helping you live in a fancy condo except you.

Don't be surprised, every republican I know is a socialist to their very core. :D

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.