I came here to post almost this exact message. Live 30 minutes north of Nashville. Looking for Multi-Family within 30 miles. Bowling green, Franklin, Portland, Springfield, White House, Goodlettsville (probably too close to Nashville to make a buck), Hendersonville (again probably too close), Gallatin... You name it I'll look.
Anywhere from 5 to 30 units. Anyone know a good realtor or have any advice I'm all ears!
Memphis could yield some great returns. Louisville and Lexington both are great markets, but are also very competitive. Trying Bowling Green, Clarksville, Jackson, Chattanooga, etc.
Have you considered Huntsville, AL? I'm in Louisville and building from SFH to multi-family here, but Huntsville will have sustained stable growth for years to come. My hometown is Gadsden, and brain drain is sending everyone to Huntsville. Also, they just won a bid for a new Toyota/Mazda factory.
Heard an interesting piece of info on Huntsville. Haven't investigated too closely to know if it's accurate or not but the info is this: Huntsville is a recipient of a lot of defense and NASA related spending. I know there's a lot more going on there than that, which isn't the point of this post to begin with. However when spending is down in those sectors it apparently has a decent effect on property values. Conversely when spending is up those values inflate. Do with it what you will.
I'm a Louisville/Southern Indiana realtor and investor. The market in Louisville is competitive and a fast seller's market. Depending on what you're looking for, you could get some good cash flow here or appreciation depending on the area. Feel free to message me if you have questions!
I can't comment on Huntsville or Birmingham AL but Louisville and Lexington are decent choices for a real estate investment. Like any out of state real estate investment, you need a good reliable team and boots on the ground that really knows the cities and these two KY cities are no different. Both have decent growth and appreciation but you are not going to set the world on fire either. Most investments will be around the 1% rule.
I am from and still reside in Bowling Green, KY and if you need any help with boots on the ground I am happy to provide any and all insights I have. Feel free to reach out.
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