Looking to invest in Knoxville

[Daniel Huynh]

Hello world,

I'm an investor from Oregon looking to purchase a couple buy and holds in Knoxville. I have a few SFRs here in Portland but want to expand out of my local market. I'm planning a trip out in the next couple months to learn about the area and pinpoint some target neighborhoods. I'm trying to primarily focus on close in areas not far from downtown. Does anyone have any suggestions of neighborhoods to focus my search in or any other areas that I should be paying attention to?

I'm using craigslist to research rents in the area and it looks like close in SFRs can rent in the range from $800 up to $1500 / month. Can anyone with local knowledge let me know if my estimates are off base.

Knoxville seems to be a cool little town with lots of potential. It seems like the town is starting to develop and I noticed quite a few breweries and amenities going in. Plus the location is great with a lot of outdoor activities. I'm excited to come check it out.

Thanks,

Dan

PS - if anyone has any good recommendations for fly fishing in the area I'd trade some beers for your local knowledge ;)

[Derek Tellier]

Hey @Daniel Huynh

My knowledge is much better of the area just south of Knoxville in Blount and Sevier County but I know plenty of people in Knoxville as I am pretty active in the local REIA. I saw no one else responded though so figured I'd jump in.

I can tell you that your rents are pretty spot on, you pretty much can't find any SFR's for under $800. There are places renting for below that, especially in East Knox (the not as good part of town) but even there as longer term tenants who are paying well under move out newer tenants can be brought in much higher.
The job growth is great and unemployment is low. Anyone in the Knoxville area that claims they can't find a job it's because they either aren't looking or can't stay clean enough to get hired. 

I wish I could give you more real data on specific neighborhoods around Knoxville right off but anything I tell you is stuff you can find on google. 

I'd be happy to meet up when you're in town to share what I do know but again don't want to pretend I could be your best source.

Reach out when you get closer to coming out, I will at the very least get you referred over to someone if I can't be as helpful as you need. 

Best of luck