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Eric W.
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Good neighborhoods/suburbs to look into

Eric W.
Posted Mar 24 2024, 11:02

What are some good areas to look in the Knoxville area for someone looking to start out in real estate investing. Just off some basic research I found oak ridge and maryville. Would also need a PM company. Thanks 

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Cory King
Pro Member
  • Real Estate Agent
  • Knoxville, TN
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Cory King
Pro Member
  • Real Estate Agent
  • Knoxville, TN
Replied Mar 25 2024, 09:00

lots of options depending on your goals. i focus primarily in knoxville with long term holds and a few flips. my long term holds are focused in 37921 and 37912 zip codes and focus on long term tenants and student rentals. oak ridge has a great upside for long term renting as well as mid term with the lab and all the contract labor that goes in and out of there. happy to pass out some references if needed. 

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Eric W.
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Eric W.
Replied Mar 25 2024, 09:23
Quote from @Cory King:

lots of options depending on your goals. i focus primarily in knoxville with long term holds and a few flips. my long term holds are focused in 37921 and 37912 zip codes and focus on long term tenants and student rentals. oak ridge has a great upside for long term renting as well as mid term with the lab and all the contract labor that goes in and out of there. happy to pass out some references if needed. 

Thanks I’ll research those zips. Would you say there are opportunities there for a first timer that warrant pulling money from an HYSA earning 5.5%? I’ve had this itch to get into real estate for a long time, but everytime I start to dip my toes in I get the feeling that with prices/rates where there at it’s hard to justify pulling money from risk free 5.5% ? I feel like I missed the 2021 boat and it’s never coming back. 

I want to own hard assets just tough finding one in this market!
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User Stats

71
Posts
24
Votes
Cory King
Pro Member
  • Real Estate Agent
  • Knoxville, TN
24
Votes |
71
Posts
Cory King
Pro Member
  • Real Estate Agent
  • Knoxville, TN
Replied Mar 25 2024, 10:30
Quote from @Eric W.:
Quote from @Cory King:

lots of options depending on your goals. i focus primarily in knoxville with long term holds and a few flips. my long term holds are focused in 37921 and 37912 zip codes and focus on long term tenants and student rentals. oak ridge has a great upside for long term renting as well as mid term with the lab and all the contract labor that goes in and out of there. happy to pass out some references if needed. 

Thanks I’ll research those zips. Would you say there are opportunities there for a first timer that warrant pulling money from an HYSA earning 5.5%? I’ve had this itch to get into real estate for a long time, but everytime I start to dip my toes in I get the feeling that with prices/rates where there at it’s hard to justify pulling money from risk free 5.5% ? I feel like I missed the 2021 boat and it’s never coming back. 

I want to own hard assets just tough finding one in this market!


totally hear you, pre 2021 in knoxville was a totally different ball game. again depending on your goals and strategies, your expectations aren't unrealistic. some deals may require more of an investment to make the numbers work like one of my student rentals that was a full gut project and took nearly a year to complete yet it spits out 15% cash on cash returns annually and i purchased that late 2022. 

investing in general is a risky endeavor, it's all relative to ones own risk tolerance depending on their position. we try and make calculated risks and look to evaluate multiple exits before pulling the trigger, yet there is still some risk involved. 

maybe a reit or syndication is the way to go if you want to be in real estate yet don't want to take on the properties yourself. either way i'm happy to make some local connections. 

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Eric W.
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Eric W.
Replied Mar 25 2024, 10:39
Quote from @Cory King:
Quote from @Eric W.:
Quote from @Cory King:

lots of options depending on your goals. i focus primarily in knoxville with long term holds and a few flips. my long term holds are focused in 37921 and 37912 zip codes and focus on long term tenants and student rentals. oak ridge has a great upside for long term renting as well as mid term with the lab and all the contract labor that goes in and out of there. happy to pass out some references if needed. 

Thanks I’ll research those zips. Would you say there are opportunities there for a first timer that warrant pulling money from an HYSA earning 5.5%? I’ve had this itch to get into real estate for a long time, but everytime I start to dip my toes in I get the feeling that with prices/rates where there at it’s hard to justify pulling money from risk free 5.5% ? I feel like I missed the 2021 boat and it’s never coming back. 

I want to own hard assets just tough finding one in this market!


totally hear you, pre 2021 in knoxville was a totally different ball game. again depending on your goals and strategies, your expectations aren't unrealistic. some deals may require more of an investment to make the numbers work like one of my student rentals that was a full gut project and took nearly a year to complete yet it spits out 15% cash on cash returns annually and i purchased that late 2022. 

investing in general is a risky endeavor, it's all relative to ones own risk tolerance depending on their position. we try and make calculated risks and look to evaluate multiple exits before pulling the trigger, yet there is still some risk involved. 

maybe a reit or syndication is the way to go if you want to be in real estate yet don't want to take on the properties yourself. either way i'm happy to make some local connections. 

Thanks for that! Ya I own some REITS, but trying to break into hard assets. 

what’s your opinion on new construction homes as investment properties. Seems there’s some in those zips you mentioned in the 350k range. I know the builders are offering more incentives to buyers, but does new construction typically pan out well as investment properties? 

User Stats

71
Posts
24
Votes
Cory King
Pro Member
  • Real Estate Agent
  • Knoxville, TN
24
Votes |
71
Posts
Cory King
Pro Member
  • Real Estate Agent
  • Knoxville, TN
Replied Apr 24 2024, 14:48
Quote from @Eric W.:
Quote from @Cory King:
Quote from @Eric W.:
Quote from @Cory King:

lots of options depending on your goals. i focus primarily in knoxville with long term holds and a few flips. my long term holds are focused in 37921 and 37912 zip codes and focus on long term tenants and student rentals. oak ridge has a great upside for long term renting as well as mid term with the lab and all the contract labor that goes in and out of there. happy to pass out some references if needed. 

Thanks I’ll research those zips. Would you say there are opportunities there for a first timer that warrant pulling money from an HYSA earning 5.5%? I’ve had this itch to get into real estate for a long time, but everytime I start to dip my toes in I get the feeling that with prices/rates where there at it’s hard to justify pulling money from risk free 5.5% ? I feel like I missed the 2021 boat and it’s never coming back. 

I want to own hard assets just tough finding one in this market!


totally hear you, pre 2021 in knoxville was a totally different ball game. again depending on your goals and strategies, your expectations aren't unrealistic. some deals may require more of an investment to make the numbers work like one of my student rentals that was a full gut project and took nearly a year to complete yet it spits out 15% cash on cash returns annually and i purchased that late 2022. 

investing in general is a risky endeavor, it's all relative to ones own risk tolerance depending on their position. we try and make calculated risks and look to evaluate multiple exits before pulling the trigger, yet there is still some risk involved. 

maybe a reit or syndication is the way to go if you want to be in real estate yet don't want to take on the properties yourself. either way i'm happy to make some local connections. 

Thanks for that! Ya I own some REITS, but trying to break into hard assets. 

what’s your opinion on new construction homes as investment properties. Seems there’s some in those zips you mentioned in the 350k range. I know the builders are offering more incentives to buyers, but does new construction typically pan out well as investment properties? 

 New construction offers a solid upside regarding maintennce costs. Typically new construction can appreciate at a slightly higher rate that other homes, especially if one is buying in a subdivision and on the early side of getting into it. We've also done some build to rent with some local smaller builders. Happy to connect more on this