Tennessee, Florida, or Arizona?

[Ivan Avila]

Hey BP! My year has started off with constant regional and submarket evaluations to decide where my team will purchase it's first commercial multifamily asset. I have got a good handle on where I'd like to start investing but I would love to hear the opinion/feedback of other investors as well... these are the final three states on my shortlist: Tennessee, Florida, and Arizona. Any thoughts?

[Travis Jacobs]

I can't give info on the commercial side here but I am in Chattanooga now. I plan to buy commerical multi family properties in East TN within 3 years. The rental market is strong here as in most areas like Memphis, Nashville, and others. Florida is a hot spot for new out of state residents and property values arent inflated as much in some areas such as Jacksonville. I would assume Arizona is expensive right now and has state tax which I believe will go higher. TN and FL have no state taxes and less regulation? Just throwing Ideas I hear from investors I listen to and have learned myself. Tennessee is one of the most fiscally responsible states, and I see long term growth here for those who are patient. (East TN and Memphis)