Updated 6 months ago on . Most recent reply
Getting Frustrated in TN
Hey guys!! Need some encouragement from some seasoned investors!! We are wanting to get started with a long term rental but I cannot get a deal to cash flow and the rents in my area are really taking a nose dive. I think our area is saturated with new apartments and houses up for rent just sit for a 90 days + and you have to keep lowering the rents to even get a renter. I am about to throw in the towel. I want to stay within 3 hours of my home town which is Knoxville as I want to manage it myself and be able to lay eyes on the property regularly. Any advice or is TN just not a good market right now? Thanks in advance!!
Most Popular Reply
Hey @Lori Colwick completely understand the frustration. We're in knoxville and have still been able to find opportunities that work for us. Out of curiosity, what sources are you using to find opportunities?
How many offers are you submitting currently?
Are you open to alternative strategies like Mid term rentals or student rentals?
We've been able to find returns around 20% over market rent by shifting to mid term and student rentals can be as much or more. We average $930 per month per bedroom for our student rentals.
If you're looking outside Knoxville markets like Jefferson City and Oak Ridge are worth exploring some as they can offer some decent returns.
Overall, just keep going