Nashville is up and coming, they saw about 10% appreciation across the board there in 05’, and while it is still inexpensive, I forsee that market’s prices continuing to grow at a pretty good pace. If you’re looking for some properties to hold and cashflow long term, I would suggest Memphis, particularly Bartlett and Cordova areas. 3bed, 2 bath homes are in generous supply, the rental market is strong, and prices are low. I recently read somewhere that the market is one of the most undervalued in the country, and I believe it, judging by the fact that the home I own there was recently appraised at about $90 per square foot. Yes, homes come cheap in metro Memphis.
Tennessee??? Any Info on this area - Posted by Dale-Ohio
Posted by Dale-Ohio on April 04, 2006 at 10:37:15:
Hey, i have been thinking about moving to Tennessee. There never seems to be any investors on this site from that area. anyone know if that state is cheap to buy houses and if the rent in those areas justify what the payments would be? I guess in a nutshell, is it a good investment area? Thanks
Re: Tennessee??? Any Info on this area - Posted by rehabber7
Posted by rehabber7 on April 05, 2006 at 09:59:46:
Dale,
I was born and bread in TN. Cut me and I bleed orange. Wouldn’t live anywhere else. TN is a great place to live and raise a family. No state income tax (exept on dividends), property taxes are low, the landscapes are beautiful, we have our own lakes to fish and ski on (you must not have lakes in Ohio based on the number of Ohioans who travel to TN each summer and crowd our lakes), and I could go on and on. As for investments, real estate is local. It can vary a huge amount from one county to the next. Where I live and invest appreciation rates are lucky to hit 3% per year. But, I focus my investing on retail flips, making my money on the buy. Sorry, I can’t really answer your question because there is so much variety across the state. Small towns with only a few hundred people, all the way up to Memphis and Nashville. You probably have a similar amount of variety in Ohio. What I can tell you though is that most of the state has not seen the real estate craze like CA and FL although there might be isolated pockets.
Re: Tennessee??? Any Info on this area - Posted by rehabber7
Posted by rehabber7 on April 05, 2006 at 14:02:35:
I live about 4 hours away from Memphis, so my info is limited. Again, just like anywhere else there are good parts of town and bad parts. Memphis is more of an “Old South” kind of city, with the good and bad that comes with that. I believe that there is a suburb called Germantown that is very nice. Sorry, I haven’t been to Memphis in several years.