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Old 04-12-2013, 06:59 PM
 
78 posts, read 137,468 times
Reputation: 59

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OK, so I am looking to relocate, hate NY, liking TN (no income tax!). I've been to Knoxville once but only for a short stay, gonna check it out again and Nashville soon.

OK, so I am big into real estate, 1-4 family residential. Where ever I move I need to make sure it is a good rental town because I want to eventually make that my full time career. With UT in town I am assuming Knoxville will have a strong rental market.

Where do people like to live? Whats the best site to search those neighborhoods for homes for sale? What are the rents people are paying etc?

I am from Rochester NY and may family and I have a partnership for a few units. Some college rentals, some not. We look for a cap rate of 12%+. Some have been 16-17% or better. Cash flow is very important as I said, I want to do this full time ASAP.

Are returns like that expected in Knoxville? Any and all input is appreciated.

Mike
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Old 04-13-2013, 05:16 AM
 
Location: Knoxville
1,155 posts, read 3,389,653 times
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Welcome to Knoxville and yes, a good cap rate of 10% or more is normal! Rentals are everywhere, not only for college students, but tons of folks, when relocating, are looking for short term rentals, so can learn the area and later to purchase. You can expect to find all types of rental producing homes and a good payment for many is probably around $600 and up.
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Old 04-13-2013, 06:10 AM
 
78 posts, read 137,468 times
Reputation: 59
What areas should I focus on in my search? I know in my area if you cross over a street, you can go from highly desirable to unwanted very quickly. Any good MLS sites that allow you to search by map?
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Old 04-13-2013, 02:42 PM
 
Location: West Knox
394 posts, read 794,683 times
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Quote:
Originally Posted by thoner7 View Post
What areas should I focus on in my search? I know in my area if you cross over a street, you can go from highly desirable to unwanted very quickly. Any good MLS sites that allow you to search by map?
Find Homes By Area
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