Calling All Tennessee Investors!

[Brooks Nicholson]

Hello Everybody,

I am currently helping a close friend purchase property in the Mount Juliet and Old Hickory parts of Tennessee.  I am having a difficult time making the numbers work for any property that is coming to the market.  It seems that the purchase prices of these homes is outweighing the rental potential.  Are any other Tennessee Investors seeing the same thing?  Any and all opinions is appreciated!  (We also already have an agent / lender in place)

Thanks!

Brooks Nicholson

[JD Martin]

Yes, I see the same thing. The housing market is becoming unhinged from reality in my opinion. Yes, there is a lot of out of state money coming in driving up prices, but the people that work here still have to live somewhere. Last thing I was able to close on was from an estate sale that never made it to the MLS back in November. Nothing else in my area pencils out even reasonably close to making sense for rentals right now. Man do I miss the days when I was buying houses here for $30k.