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Looking to buy my first investment property. I initially was looking in the smokies thinking STR but it's late in the game right now. I'm open to the idea of LTRs and started looking in downtown Knoxville, single units and/or multi- family. I'm doing my due diligence but the numbers show low cash flow and also on low COC. In the current market, which numbers are "good enough" for you to pull the trigger?
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New SFH acquisitions in Huntsville/Madison proper do not cash flow right now unless you go to C/D neighborhoods or you put at least 30% down on an A/B property to "force" cash flow which not necessarily ideal. I've never seen the market so tight here in the 6 years I've been doing this. We haven't written an offer in months outside of flip opportunities because the numbers simply do not work on LTRs right now here.