New to Nashville, Real Estate, and BP

[Charles Jones]

I moved to the Franklin, TN area a few months ago and am champing at the bit to get started in rental property investing. The numbers don't seem to work well for rentals in Nashville/Franklin and it looks like the market varies greatly mile by mile. Have any of you had any luck in the Fairview, Pegram, Dickson, and other outlying areas? Any advice would be greatly appreciated. Thanks! - Charlie

[Alex Vargas]

Hey @Charles Jones. Welcome to Nashville market! 

The numbers work in the right area. Nashville is very hard to find a good deal and once you find it its not easy to capitalize on it. 

You're on the right track as far as looking at the surrounding cities. There are plenty that are still affordable and have lots of room for growth, including all the ones you mentioned above! 

Another area to look at if you are wanting to stay close to Nashville and is still somewhat affordable is Bordeaux area. I'm looking at a few units there currently that make a lot more sense than areas like east Nashville or any of these other saturated areas.

In the last year Dickson county has seen a growth of 16.29% at number 9 of 14 in Mid TN counties. Avg sales price in Dickson this last quarter was 141k.

Cheatham County which is where Pegram is, has seen 91.18% growth in the last year, leading the counties in Mid TN in growth (these counties are compared to themselves not to other counties). Avg Sales price in Cheatham this last quarter was 257k compared to Davidson county at 349k and Williamson (Franklin) at 479k. 

Feel free to reach out to me if you want to get more info, meet up and find out where the best investment deals are in and around Nashville. I'd love to help you man! 

Good Luck. 

Alex Vargas