HI Chris!
Welcome to the journey! It's great that you've been absorbing so much knowledge and are taking a strategic approach to getting started. I can assure you, there’s still plenty of opportunity in the greater Nashville metropolitan area for all types of exit strategies, whether you're focusing on single-family or multi-family properties. The market has its challenges, but if you dig deeper, you’ll find deals that align with different investment goals.
It's awesome that you're looking at out-of-state markets like Birmingham and Montgomery. Both have been growing steadily, and your BRRRR strategy could work well there. However, don't discount the value of networking in Nashville, even if your focus is out of state for now. The real estate community here is active and full of knowledge that can translate across markets. Many investors in Nashville have remote portfolios, and building relationships here can provide access to mentors, contractors, financing options, and even potential partners who have experience investing out-of-state.
It's also worth mentioning that you never know when opportunities will open up locally, especially with Nashville's evolving market. So, connecting with the local real estate community could serve you in the future. Keep practicing that deal analysis, and as you build your team out of state, networking locally could offer valuable connections, resources, and support to help you on your REI journey.
If you’d like to reach out, I’d be more than happy to assist with building your network or exploring investing opportunities here in Nashville. Feel free to connect anytime
Rachel