Turnkey rental companies in Middle, TN

[Jordan Nikolaisen]

I've looked for posts regarding turnkey rental companies in Nashville/Middle, TN, but haven't had any luck with finding much info here amongst the bigger pockets community. I've seen some posts from a few years ago, stating there wasn't really much of a presence here with those kinds of companies. But as it is 2022 now, I'm curious if anyone here has turnkey companies they've invested with in Nashville, or the middle TN area recently?

To be honest, I'm not terribly interested in looking for rental properties in Nashville, but more so looking at the surrounding areas in middle TN- i.e. Gallatin, Lebanon, Mt. Juliet, Murfreesboro, Spring Hill, etc. 

So the questions I have- turnkey company recommendations for middle TN? Thoughts on the rental market in the surrounding cities/counties. 

Hope to get some informative feedback! Thanks!

[Chris Clothier]

Quote from @Jordan Nikolaisen:

I've looked for posts regarding turnkey rental companies in Nashville/Middle, TN, but haven't had any luck with finding much info here amongst the bigger pockets community. I've seen some posts from a few years ago, stating there wasn't really much of a presence here with those kinds of companies. But as it is 2022 now, I'm curious if anyone here has turnkey companies they've invested with in Nashville, or the middle TN area recently?

To be honest, I'm not terribly interested in looking for rental properties in Nashville, but more so looking at the surrounding areas in middle TN- i.e. Gallatin, Lebanon, Mt. Juliet, Murfreesboro, Spring Hill, etc. 

So the questions I have- turnkey company recommendations for middle TN? Thoughts on the rental market in the surrounding cities/counties. 

Hope to get some informative feedback! Thanks!

 Hi Jordan, confirming your suspicions and some of the feedback...

We manage property in the area for other investors, but have chosen to not enter the market as an active buyer.  We manage 7,500 properties in some of the best markets across the south, but have never been able to make the economics work in Nashville.  The economics I'm looking at are from a business standpoint, but ultimately, they just didn't make sense for our clients either.  That is for a multitude of reasons from median price point, available houses in that range, rent to price ratio and rental demand.  

I have no doubt that there are some highly successful local investors who do a fantastic job, but we were not able to see a path to scale in the surrounding areas, so ultimately chose other markets to grow into.  I think it would certainly be possible to expand your search into northern Alabama, even Chattanooga, Memphis and Knoxville.  Each of these areas has some presence of fully turnkey companies.  The other option is to follow David Greene and his advise on building out a team in the Nashville area.  It is time intensive on the front end, but can be managed minimally once you have properties in place with a management company.  I personally love Nashville and the areas to the South, whcih I am most familiar with, are growing like crazy.  Best of luck as you go forward!