Middle Tennessee (Nashville) Multi Family Home Investing

[Jimmy Silcox]

Hello All!  I'm a relative newbie to Nashville, TN. (moved down in my camper over a year ago and recently bought a place in East Nashville)  I love it here and plan to stay long term.  I've been researching and learning about real estate for a little less than a year now and I think I've determined what my strategy is going to be.  I'm looking at getting into buying MFH and using the income from each home to save more for the next.  I've done some searching for MFH in my price range around Nashville and about an hour out and have had very limited success.  I know Nashville is a very hot market and prices are high.  I wonder if I should consider starting out in a different market/area?  I'd like to spend less than $150k on my first multi family, cash flow at least $150 per door and obviously buy the home at a price that will enable built in equity.  Where do y'all suggest I look and does this even sound like a good strategy for this area?  Thanks so much for any help you can offer.

Jimmy

[Jeffrey Holst]

Chattanooga is a great market for cash flow and growth.  For example duplexes here can be bought around 100K with solid cash flow and rents of 600 per side.  I know this doesnt meet the 2% rule but these have low taxes and insurance costs are mainly brick construction and are in decent neighborhoods.  With those fundamentals its possible to hit a $200 a door cash flow figure.