Looking for advice about rental properties in Nashville, TN

[Tyler Mau]

Hi everyone,

I'm a (new) out-of-state investor looking to potentially buy a rental property in the Nashville area. I would love to connect and discuss with people familiar with the area!

I've heard that the rental market is pretty strong and there are many neighborhoods that are up-and-coming. The specific areas I've been interested in (so far) are around Five Points (37206) and around Vanderbilt and Belmont Universities (37212). The area around the universities seem to have the highest rental properties and high demand, but the home prices are also quite high. It seems like East Nashville still has room to grow and still has a great rental market. When I visited a week ago, it seemed like there was a lot of rehab/reconstruction going on, but still many older homes that have yet to be turned. So the area around Five Points in East Nashville seems like it might be a good place to look, although I'm still on the search for good deals.

Does anyone have any thoughts on this or have any suggestions of where else around Nashville I might want to look at? Based on the growth, rental markets, and housing construction, it seems like a good place to invest. My main concern is that Nashville has been such a hot market recently, that housing prices have gone up quite a bit recently and it seems harder to find deals with good returns.

Also, does anyone have any good recommendations on property managers and contractors in the area? I'm looking to build up a really good team that I can trust, especially since I am out-of-state. I have some family out there that could help me check on things (like contractor work), but I really would like a team that I can trust to do a great job. If all goes well, I plan on buying many properties over the next several years, so having a good team in place would really benefit everyone involved.

I very much would appreciate any recommendations or advice about investing in the Nashville area! I would also love to network with anyone interested since I plan to really get into REI and buy several properties over the next few years! I am deep in the research phase and have much to learn from others!

Thank you!