Newbie outside of Nashville, TN in the Spring Hill/Columbia area

[Allen Harris]

Hello BP! My name's Allen, and I live in the Spring Hill, TN area outside of Nashville. I'm a full-time writer and executive in the Cool Springs part of Brentwood and Franklin, and I've been nursing a growing interest in buy and hold REI for more than a year now. At this point, it's pretty much time for me to choose action or fall into analysis paralysis!

I initially got interested in REI through "Rich Dad, Poor Dad" (of course) and podcasts, which quickly led me to BP. I was originally looking at turnkey options in the midwest, but that seems to be pretty risky. Since I'm in middle Tennessee and have access to local properties in the $100k range, I've started to think there's no real reason to buy in Indiana when I have options close to home.

As we get to know each other, I'd be hugely grateful for any advice active investors have about my market. Nashville and Brentwood are pricey, but there are deals in Columbia and even farther south in Lewisburg. I don't, however, know how those are as rental markets in terms of ROI. I do know that Spring Hill is growing rapidly. It's changed dramatically in the 10 years I've lived here.

I've been reading, listening, and studying for a year now, but I know that doesn't translate to street smarts with this. I'm open to learning whatever you guys are willing to teach me!

[Jeff Wallenius]

@Allen Harris your absolutely correct, no need to buy in another state when you can accomplish your goals locally. In order to begin learning your area start hitting the streets. Call on rental signs in the area. Ask plenty of questions. What's the rent? Home size, bed/baths? How long has it been available? 

When driving the areas see how many houses are for rent, this should give you input on vacancy rates. Do your neighborhoods have HOA's? Age of the homes? Ask local investors and realtors on their opinion of the market.

If your going to be investing in your local area it's going to take work, and you have a great start by beginning with education. 

@Joseph Gueary thank you for your service sir!