Multifamily Properties in Tennessee

18 Replies

Husband and wife team from South Florida would like to learn more about the Tennessee multi-family market.  We are interested in connecting with local agents  and property managers.  So far, we have looked up a few properties in Knoxville and one in Chattanooga.  We are open to other local markets suggestions.  Thank you 

Great. thank you very much. 

I am south fl transplant and currently in maryville, just outside knoxville, and would certainly be happy to share what i have learned about the area in the time i have spent here. Pm me or ask specifics here

I’m a Florida native living in Tri-cities of NE TN. I’m a new to real estate investing but have been here for 10 years and can try to help as well. Pm me or ask me anything. Go Dolphins!

Thank you Will. We just started researching the Tennessee market and have a couple of contacts in Knoxville. Any information you might want to share is highly appreciated. The main question is, is this a good market now for purchasing multifamily properties. So far the few properties we have ran numbers on, cash flow over 10% 👍 but we are not familiar with the employment and population growth.

Originally posted by @Will G. :

I am south fl transplant and currently in maryville, just outside knoxville, and would certainly be happy to share what i have learned about the area in the time i have spent here. Pm me or ask specifics here

@Maria Tavera The guys over at Jake and Gino - @Gino Barbaro - run a solid operation in TN. They are long term buy and hold investors who've developed an impressive track record in a short period of time. Would recommend connecting with @Gino Barbaro as well checking out their excellent podcast. 

P.S. Think they own some properties in the Knoxville area. 

Thank you Omar. We will definitely check them out. 

@Matt Wolfe  

@Steve Kontos

Thank you both. Now that you mention Johnson City, we will take a look at what’s available out there 👍. Thank you. 

if it is on the mls i have looked at it. If you like i can render an opinion on a specific property as there are many that have been sitting on the market for a while due to location

Steve, congrats on your success in real estate. Motivational portfolio. Just curious if you invest in Johnson City. If so can you recommend a property management company or any one dedicated to the area. Thanks. 

@Will G.  thank you Will please do. Your opinion is appreciated. 

Any one familiar with Pulaski, TN and New Johnsonville, TN. We received a few multifamilys (2o+ units)  from a broker. To me these small towns dont provide enough comfort in terms of demand for these units. Thanks..

Hi Everyone! 

I thought I'd add on to this thread rather than start an entirely new one. I'm an out of state investor that also needs to branch out into a new state. I went to about 6 months back and loved it, so I'm thinking about making TN my new market. Below are the criteria I’m looking for in the property:

  • 5+ Units
  • Purchase Price between $800K and $3M.
  • C-class properties in B/C neighborhoods
  • Light rehab (no full guts or extensive deferred maintenance)
  • Reasonable price. I don’t need home runs, I need base hits and doubles.
  • Less than a 45 commute to the downtown area.

Some areas I’m considering include:

  • Knoxville, TN
  • Chattanooga, TN
  • Memphis, TN
  • Nashville, TN (even though I'm worried prices have already run too high)

I’d love your help answering the following questions:

  1. Which city / market would you start your search in?
  2. What are some of the potential pros and cons of the cities I’d mentioned?
  3. What’s the price range per unit in the area?
  4. What’s the rent range per bedroom in the area?

Thanks in advance for the help!


@Clinton Holmes following on your post, our criteria is very similar to yours 👍. Right now we are researching a couple of markets in TN, including Nashville and Knoxville. Feel free to pm us and we can share more ideas. Thank you. 

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@Khalil Bachir

Sorry for the delayed response!  Yes I own apartments complexes over there and we use DK management.

Eastern TN is one of the hotter markets around with the economy heating up... Johnson City, Kingsport, and the suburbs surrounding them. Lots of room to grow vs the more mature markets. 

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