Spring Hill, TN · Member since 2016 · 29 posts · 35 votes
Hey guys, I'm in the Nashville area and will make my first rental property purchase in the next few months. I'd like to stay close to home since there are plenty of good properties under $100,000 within a couple of hours of any direction of me. My local area is Spring Hill, which is just south of Nashville. I was thinking of looking here and a little further south in Columbia. But I also know Memphis gets a lot of attention as a rental market. Memphis would also enable me to use a turnkey provider if I wanted to go that route for my first property. Any pros/cons or other suggestions for Memphis versus Nashville/Spring Hill/Columbia?
Residential Real Estate Broker · Nashville, TN · Member since 2017 · 5 posts · 0 votes
9y
Allen Harris , I live just north of you, closer to Brentwood ... I've looked into the Memphis area, too, and what kept me away was the high vacancy rates and some of the worst crime rates around. Two stats that typically don't mix well with rental properties.
Spring Hill, TN · Member since 2016 · 29 posts · 35 votes
9y
@Richard Martens: Yeah, I was concerned about that, too. I remember hearing a podcast with those two factors being considered, and Memphis wasn't looking too good on those terms.
I'd also consider looking around Birmingham (where I'm from originally), but I hear the crime and vacancy aren't great there, either. However, I have heard that the downtown area has been undergoing redevelopment for a while with a lot of new loft developments. Anyone have any thoughts on Birmingham?
Residential Real Estate Broker · Nashville, TN · Member since 2017 · 5 posts · 0 votes
9y
@Allen Harris, I was born and raised in B'ham, too! In fact, my wife and I have only been in Nashville for 5 years, and that was our first time to move away from B'ham. We both still have plenty of family that live there. I've certainly been keeping my eye on B'ham as well. Places like Avondale, Crestwood, Forest Park, etc ... are all interesting spots that seem to be growing, but super slow (but that seems to be how B'ham does things). Sounds like we may need to meet up at some point . . .