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Updated almost 8 years ago,
Jackson, TN buy/hold questions
Hey guys -- looking at a few rentals in Jackson, TN. I live in Nashville and this would be my first out of town investment.
An investor is wanting to offload on Gordon, Alexander, and East Chester: a duplix and 2 SFU's -- total rent ~$2150. They are definitely in C areas & tenants (one of them is section 8) but are rented, recently rehabbed, occupied, the cash flow is great, and they have property management in place. I would likely conservatively cash flow ~$600/mo after tax, capex, debt service, etc. 10% cap rate
Will likely be eyeballing them this weekend
Questions:
1. Anyone have any absentee-owned rental experience in Jackson?
2. Anyone familiar w/ these areas? Should I stay away?
3. Any recommended property managers? Current management is not licensed and just acts as administration for ~100 properties in the area and seem pretty hands on after chatting for ~30min
4. How is the rental market there overall? I literally found this deal this morning so am doing my research inbetween my 9-5 work calls...
5. If I go out there this weekend, what other areas should I consider.
Appreciate you all!
Sean