Best NSH Neighborhood to Invest? Given Following Criteria...

[Sam Katz]

Greetings BP Community - It's with great pleasure I make my first post.

I am fortunate to have just received an offer to join a well-respected RE Dev Shop here in Nashville, and as such, am looking to purchase my first investment property in the area - and first in general, for that matter. My criteria - which I reckon are widely shared - are as follows:

(None of the following are set-in-stone - merely conversation starters. I'm open to adjustments / suggestions)

• "House Hack" Opportunity (Duplex, Triplex, Quad)
• Opportunistic ➜ Value-Add w BRRRR Potential; Willing to Work w Hard Money / GC
  • i.e. Off-Market - Foreclosure (any stage), Tax Delinquency, etc.
  • I have family in NSH so flexible w project timeline
• Relatively Untapped Neighborhood w Signs of Future Appreciation
• Max 30 Min Drive to Downtown
• Vicinity to Outdoors / Active Lifestyle
• Young Demographic Ideal - Gentrification Taking Place (Maybe University Students Present?)

The goal is to - again, fairly generic - build an immense portfolio of investment property both in the area and elsewhere. SFH ➜ 1031 ➜ MF. I have a high risk tolerance given I am willing to the due diligence necessary.

Thank you all in advance. I'm a curious, genuinely interested socialite by nature, so look forward to building relationships with many of you - GC's, PM's, brokers, fellow investors & more. Let the dialogue begin.

Cheers,

Sam

[Luka Milicevic]

@Sam Katz

What is this RE Dev group?

You left out price with your criteria, so makes it hard to pin point exactly an area you should start farming. 

Based on what you said:

37218-North of the river would be the first place I'd put my priority if I were you

After that, probably Madison, and perhaps Hermitage. 

[Sam Katz]

@Luka Milicevic

First off, I appreciate your quick & concise reply. I'll certainly do a deep dive into those areas.

A quick search tells me we have similar interests, with you certainly being the more experienced. It would be awesome to connect down the road.

As far as a price point, given my risk profile, nothing north of $300K.

The firm is Lincoln Property Company.

Thanks again for the advice, Luka.

[Angela Dulin]

Hi @Sam Katz, I agree with Luka as far as where to begin your search. You could also check out 37207 with the amount of new development on the way, W Trinity has the potential to drastically appreciate in the next 2 years. You can also find some pretty great flips, house hacks or buy/hold rentals in 37211. Feel free to reach out if you have questions, I would be happy to help. 

Be well, 

Angela

[Sam Katz]

Hi @Angela Dulin!

Thank you for your added input. I've made a note to reach out in the coming days as my timeline becomes more clear.

In the meantime, I'll do some more research on my own end.

All the best,

Sam

[Luka Milicevic]

That budget is certainly doable within 30 mins of Nashville. Would you consider a single family with an additional room or two rooms that you could rent? @Sam Katz

[Sam Katz]

@Luka Milicevic

I was reading a previous forum that mentioned SFH's w additional bedrooms / walk-out basement's are much more widely available than multi-unit homes. Can you confirm?

I guess my motive for multi-unit property came from the additional rental income that could be built into my gross monthly income for qualification purposes. That said, I should be able to qualify regardless, so I shouldn't restrict myself.

Seeing as I'm more focused on appreciation / value-add projects (for the sake of BRRRR), SFH's also make sense.

[Elijah House]

I like southeast metro areas bordering or near solid neighborhoods(Crieve Hall). I like Woodbine, Gencliff, Valley View Meadows, etc and I own a rental in Valley View Terrace where there are new builds going up. Some of these areas have a long way to go, but numbers are good on most properties and people need affordable housing so demand should be strong. You may have to wait 10 years to double your investment, but worth the wait from my perspective. Wish you the best with your search!

[Sam Katz]

@Elijah House

I can echo your sentiment - I’m in this for the long-haul.

I appreciate the suggestions. I’ll be sure to dig deep into those areas.

Wishing you the best in your pursuits, as well!

[Sam Katz]

So to recap, the neighborhoods mentioned so far include:

• 37218
• 37207 (emphasis on W Trinity)
• 37211
• Madison
• Hermitage
• Southeast metro areas near solid neighborhoods, ie:
  • Crieve Hall
    Woodbine
    Gencliff
    Valley View Meadows
    Valley View Terrace

This is all greatly appreciated. If possible, and only because I’m unfamiliar with Nashville at large, could someone provide just a brief summary of each neighborhood? Such as, a defining feature or something that differentiates it from the rest.

Thank you in advance / I really wish I could reciprocate. If anyone is curious about the CT market, let me know!

[Elijah House]

@Sam Katz I was using Crieve Hall as an example of a more established neighborhood that's been flipped. You likely won't find anything under 300k in Crieve Hall, but it would be sweet if you did.