Hello all! My fiance and I are tying the knot in May & we will be relocating to the Knoxville area. We have enough savings to buy a 350k unit & put 10% down on it without digging into our emergency fund. We have no debt & my credit score is over 700. All multi-unit properties we have been interested in have been pending sales or priced over there market value. Is anyone here in the Knoxville area that owns several properties & could give us some pointers? Also any suggestions on realtors to talk to or any landlords? Any help would be greatly appreciated! Thank you in advance.
There's not much available and a lot of out of state investors/residents are coming here and over paying. If you want something that will cash flow you'll likely have to find something off-market. If you're looking for a nice house hack situation stay patient and keep your eyes peeled. Also consider creative situations, i.e. converting a basement into a rental, house with an ADU, etc. Happy to recommend a couple agents, feel free to PM if you would like. Good luck.
Welcome to Knoxville. I found a duplex through an agent-to-agent off-market deal. No bidding war and it appraised for more than contract price. So, I'll say they exist - you just have to be creative. Speak with a realtor and clearly state your objectives - a good one will pull through.
Sorry for the delay, I have checked the BP site in a while. I'm a local agent and have 65 rental units. I would be happy to offer insight if you still need it.