Out of state investor

[Shane O'Neill]

Hi I am a investor who owns property in Orlando and Boulder Colorado. I am looking to sell my property in Orlando and have been exploring different markets to invest in. Knoxville has caught my eye and specifically East Knoxville. I was curious from a locals perspective what are your thoughts on multi family properties in East Knoxville. Some of the properties that I have received rent rolls for seem to be very under market rented but it also seems a lower income area? Just looking to build insights as Knoxville looks a terrific market to invest and want to do some due diligence. Thank you

[Bill S.]

@Shane O'Neill Boulder and East Knoxville. You are in two completely different worlds. I don't really have anything to say but good luck to you.

[Shawn McCormick]

@Shane O'Neill Let me know about your property in Orlando, I may be able to help you sell it to my investor list. Maybe we could have a call to discuss the details. 

Best of luck in Knoxville, not sure I have investors in that market that could help, but I do know a couple of agents that could provide some perspective. 

[Alex Olson]

I don't know anything about knoxville but look to areas you have lived, have relatives, have good friends, know is landlord friendly and know is a growing market. A lot of people in Colorado look at other markets like KC, STL, Wichita because they are close. 

[Gino Barbaro]

@Shane O'Neill

Check out the median incomes for the areas you are looking at in East Knoxville. You are correct in your assessment of the area. It all comes down to price. If you can get it for a great price, and have the ability to manage the property, then you may consider it.

[Cory King]

@Shane O'Neill happy to share some insights, I'm local as an agent/investor in Knoxville. The whole area of Knoxville has seen tremendous change. We've done a few new builds over on the east side and it's an area w/ long term upside. Same how east austin was at one point. The investments going into the community are strong and a large section of it is in an opportunity zone which has some added tax benefits. Talk w/ your cpa/financial advisors about those. 

[Mackaylee Beach]

I am not familiar with the Knoxville market - but if Kansas City ever interests you, I'd be happy to connect and share our current market. 

[Huy Vinh]

@Shane O'Neill I'm a local agent here in Knoxville. Any specific area in East Knoxville that is catching your eye? As you've seen Knoxville has grown significantly over the last couple of years, and as to your question, rents are lower in the east because West Knoxville is arguably the more affluent part of Knoxville. But with East Knoxville being closer to downtown, there is a great opportunity to invest in the area. As Cory said above, there is a lot of investment going into the community.

[Gino Barbaro]

@Shane O'Neill

Just check the median income in certain areas of East Knoxville. Older assets, and lower incomes. 

The market overall is really good, nice job and population growth, and pro business.

Good Luck

Gino

[Karen Wanamarta]

@Shane O'Neill I work both Nashville and Knoxville. It depends on what your priority is - cash flow vs appreciation. You could check out South Knoxville by the nature center. Great rental area and decently close to UT. Or you could go all in on student housing given the severe shortage.

[Arpit Guglani]

East Knoxville is generally low income and high crime. If you can handle that, then yes, it can be a good deal: bearing close to downtown and coming in at a lower price point. 

[Yixiong Pan]

Quote from @Bill S.:

@Shane O'Neill Boulder and East Knoxville. You are in two completely different worlds. I don't really have anything to say but good luck to you.

 can't stop laughing. but don't take me wrong, it's just sarcastic in a funny way.