Knoxville, TN multifamily investment advice

9 Replies | Knoxville, Tennessee

Hi BP Knoxville,

I am looking to buy and rent (BRRR) small multifamily in Knoxville, TN for cash flow. I am currently looking at North Knoxville in 37914, 37917, 37918 zip codes. Is anyone investing there could provide some input in those areas. Is it a good location or where else to look for in knoxville and what rents to expect. Also please provide any referral connections there.

My Criteria is to Buy and Hold for cashflow, duplexes to 20 units. Value add or BRRRR for equity. Looking for inputs, connections(agents, wholesalers, PMs and contractors)

Thanks in advance.

Anudeep

North Knox is a good place to invest. There are some areas I would steer clear of but fewer than some other parts of Knoxville. Feel free to DM me and I can help you out any way I can. 

Originally posted by @Levi Graziano :

North Knox is a good place to invest. There are some areas I would steer clear of but fewer than some other parts of Knoxville. Feel free to DM me and I can help you out any way I can. 

 Thank you @Levi Graziano. I will reach out to you soon.

@Anudeep Yapala

I’m not yet an investor as I’m just getting into the game so I likely don’t have the answers you’re looking for but I’m local to the Knoxville area. I’m trying to gain as much experience as I can so if you needed some boots on the ground I’d be happy to try to make time to help you out. Feel free to message or email me. 

Originally posted by @Derek Tellier :

@Anudeep Yapala

I’m not yet an investor as I’m just getting into the game so I likely don’t have the answers you’re looking for but I’m local to the Knoxville area. I’m trying to gain as much experience as I can so if you needed some boots on the ground I’d be happy to try to make time to help you out. Feel free to message or email me. 

 Thank you Derek and good luck in your RE journey. Hope we can do something together.

Some ways I check for rent comps for an area is to search online under "Rent" tab on local real estate websites for that area.  I'm about 2 hours from Knoxville but other great places for researching area comps is under the "rent tab for zillow.com, realtor.com, craigslist and Facebook marketplace. For Facebook go under the location you are researching and search  "For Rent Knoxville, Tn." 

Its a bit of work but I actually create rent comp. lists for areas I'm researching. You can also get current rents by contacting Knoxville HUD office, current landlords and property managers in that area. If you will be needing a property manager in that area call several local managers. Make a list of question and conduct your interviews. This will give you an idea of how experienced and the knowledge of each property managers, while getting the information you need from several sources and seeing how well you click with each personality. If you get the same suggestions from several of the property managers on investment areas of Knoxville, you can feel better about where to start investing.

Landlords and local property managers should also be able to give you some advise on contractors, agents, PMs, etc.

To get tax assessment and appraisals for the area use www.propertytax.knoxvilletn.gov. 

Andrew Neese  although young has 14+ years of experience in real estate. He is an independent contractor, real estate agent in Tn. & Va., owner of his own Property Management Company, Investor/developer in multi-family/apartment units and started by flipping houses. He seems enthusiastic about helping others. 

Hope this helps. Happy Investing...

Rhonda

Originally posted by @Rhonda Osborne :

Some ways I check for rent comps for an area is to search online under "Rent" tab on local real estate websites for that area.  I'm about 2 hours from Knoxville but other great places for researching area comps is under the "rent tab for zillow.com, realtor.com, craigslist and Facebook marketplace. For Facebook go under the location you are researching and search  "For Rent Knoxville, Tn." 

Its a bit of work but I actually create rent comp. lists for areas I'm researching. You can also get current rents by contacting Knoxville HUD office, current landlords and property managers in that area. If you will be needing a property manager in that area call several local managers. Make a list of question and conduct your interviews. This will give you an idea of how experienced and the knowledge of each property managers, while getting the information you need from several sources and seeing how well you click with each personality. If you get the same suggestions from several of the property managers on investment areas of Knoxville, you can feel better about where to start investing.

Landlords and local property managers should also be able to give you some advise on contractors, agents, PMs, etc.

To get tax assessment and appraisals for the area use www.propertytax.knoxvilletn.gov. 

Andrew Neese  although young has 14+ years of experience in real estate. He is an independent contractor, real estate agent in Tn. & Va., owner of his own Property Management Company, Investor/developer in multi-family/apartment units and started by flipping houses. He seems enthusiastic about helping others. 

Hope this helps. Happy Investing...

Rhonda

 Thank you Rhonda for some good info. I have been looking for Rent comps, trulia, zillow, rent o meter and hotpads. Also in CL. As you said getting familiar with the market and rent trends. Also thanks for referral will reach out to Andrew.

Originally posted by @Victor Jernigan :

@Anudeep Yapala Knoxville is a strong, growing market and all of the areas you are interested in are very popular. Do you have any specific criteria for your investments?

 Hi Victor. Thanks for your response on the topic. Yes i have been noticing very good about Knoxville and got me interested. I am looking more in Multi family investments, please refer me to any contacts that you know of for finding properties.

Anudeep