Knoxville, TN multifamily investment advice

[Anudeep Yapala]

Hi BP Knoxville,

I am looking to buy and rent (BRRR) small multifamily in Knoxville, TN for cash flow. I am currently looking at North Knoxville in 37914, 37917, 37918 zip codes. Is anyone investing there could provide some input in those areas. Is it a good location or where else to look for in knoxville and what rents to expect. Also please provide any referral connections there.

My Criteria is to Buy and Hold for cashflow, duplexes to 20 units. Value add or BRRRR for equity. Looking for inputs, connections(agents, wholesalers, PMs and contractors)

Thanks in advance.

Anudeep

[Rhonda Osborne]

Some ways I check for rent comps for an area is to search online under "Rent" tab on local real estate websites for that area.  I'm about 2 hours from Knoxville but other great places for researching area comps is under the "rent tab for zillow.com, realtor.com, craigslist and Facebook marketplace. For Facebook go under the location you are researching and search  "For Rent Knoxville, Tn." 

Its a bit of work but I actually create rent comp. lists for areas I'm researching. You can also get current rents by contacting Knoxville HUD office, current landlords and property managers in that area. If you will be needing a property manager in that area call several local managers. Make a list of question and conduct your interviews. This will give you an idea of how experienced and the knowledge of each property managers, while getting the information you need from several sources and seeing how well you click with each personality. If you get the same suggestions from several of the property managers on investment areas of Knoxville, you can feel better about where to start investing.

Landlords and local property managers should also be able to give you some advise on contractors, agents, PMs, etc.

To get tax assessment and appraisals for the area use www.propertytax.knoxvilletn.gov. 

Andrew Neese  although young has 14+ years of experience in real estate. He is an independent contractor, real estate agent in Tn. & Va., owner of his own Property Management Company, Investor/developer in multi-family/apartment units and started by flipping houses. He seems enthusiastic about helping others. 

Hope this helps. Happy Investing...

Rhonda