Duncan: Hey, everybody? How are you, Matthew?
Matthew: I am awesome. Nashville is crushing it right now. If anybody has driven through Nashville, just tons of cranes, things are going on, things are happening in Nashville.
Duncan: Absolutely. It’s fun to watch it happen.
Matthew: Yeah. I heard one crazy stat. I don’t know, that like 100 people are moving into Nashville every day or something. Is that still the case or do you have any idea about that?
Duncan: Yeah, I think this year was the first time it’s dropped below 100 people a day. And it dropped below and came right back up.
And you’ve heard of all these corporations moving in? I expect that to skyrocket again soon.
Matthew: Well, cool. Well, let’s jump right in. And I’m going to share my screen.
We’re going to look at a map of Nashville. So for those of you who aren’t familiar with Nashville, Nashville is one of the four big cities in Tennessee. It is the state capital.
Anything else you want to tell us just real quick about Nashville in general?
Duncan: Music city.
Matthew: That’s one of the great things about Nashville is just the culture and it has gotten bigger but it hasn’t lost its vibe, which a lot of people really like.
I compare it if people are familiar with Austin, it is kind of like an Austin in the Southeast in terms of culture and vibe.
So let’s jump in.
Why don’t we jump right in? Antioch is right here in the Southeast section of Nashville.
Duncan, if somebody wanted to invest in Antioch, tell them a little bit about what type of house they could buy.
Duncan: Yes. So Antioch is in a good place.
You know, you can see East of Brentwood. Antioch is going to be kind of your B- type home. It’s going to be a lot of, you know, kind of the working class that is commuting in and out of Nashville daily.
They’re not new constructions by any means, there are plenty of opportunities for picking up a good investment property.
Typically it’s going to be your 3-1 type of layout.
And from what I’ve seen, these are going for, monthly rent in and around the $1,500 range.
Matthew: Oh, cool. What is a kind of a low entry-level house to the high? So are we talking like 1300, 1400 all the way up to 1700, 1800 maybe?
Duncan: Yeah, I would say 1,250 is probably your entry-level. You know, that might be your 3-1.
And then we have all the way up to, you know, in the newer developments still qualified as Antioch, upwards of $2,100.
Matthew: Nashville is just a pretty pricey market. You’re talking about 1200, 1300 all the way up to $2,100.
And these folks are typically commuting to Nashville to work?
Matthew: All right, perfect. Antioch, that’s the first one.
So a lot of people are familiar with the Opryland Hotel and Convention Center. Talk to us a little bit about East Nashville.
Duncan: So East Nashville is one of the first neighborhoods that really just blew up with all the construction.
You know, they call it the land of the tall end skinnies.
It’s where a builder is buying one lot and putting two and three homes on it.
So East Nashville is still seeing tons of construction, new builds going out there that make it a little bit harder to make sense dollar-wise for an investment.
But certain neighborhoods, which I would say are kind of very far East Nashville, like the Rosebank area and Inglewood still have plenty of opportunity for, you know, homes that are probably mid-70s build, maybe a little bit before that and they’re averaging right about the $1,500 range as well.
Good neighborhoods can be quiet, you know, you’re out of the hustle and bustle of downtown.
These are going to be your kind of mid-range B level properties.
Matthew: I think the thing that makes this so attractive is you’re so incredibly close to kind of Vanderbilt where everything is going on.
I mean you’re talking about coffee shops, a lot of gentrification going on.
So yes, you are close to Metro but also you have everything you could ever imagine you would need in East Nashville.
Tons of good food. There’s good entertainment there.
So it’s a good place where people can kind of consider themselves living in another subset of Nashville.
Duncan: Yes. A bit of a stretch from downtown. It’s probably 25 or so minutes, 25, 30 minutes commute.
What kind of the trend with Bellevue with it being west of Percy Warner Park. Again, you’re more out kind of in the nature feel.
There are plenty of townhomes and condos that again are more easily attainable as an investment.
They’re older construction but they’re still fetching a good price, $1,200 to $1,600 for a townhome.
So if you can make the numbers work there, it’s a great area to be in.
Duncan: Yes. So this is a speculation of mine. Madison being just North of East Nashville.
So it’s a bit more of a drive but as Nashville’s growth continues to, you know, kind of push its boundaries, I really think Madison is going to be a great place for picking up investment properties.
I would hazard a bet that they’re, you know, kind of right around the 4-3-1 or 3-2 at the $1,200 range.
And I only think that’s going to be more desirable, you know, as supply is kind of becoming limited with 100 people a day moving in that Madison is that next place.
Matthew: Awesome. And it’s right near the river.
I know a lot of people go up here to the lake and then a lot of people are probably familiar with Hendersonville too.
The last area we’re going to cover is kind of one area that I think and I grew up going to Nashville the same as for… Is this Brentwood and Franklin area.
Duncan: Yeah. So Brentwood and Franklin can be hard to find a good deal. These are going to be, you know, from your A++ level homes.
Matthew: It’s not a secret anymore.
Duncan: Yeah. So it can be harder to find a deal.
You’re going to be working a little bit harder to find it.
But areas like Crieve Hall is a neighborhood in the Brentwood area, you can find some of these older builds that could be a good opportunity for you.
And then something very exciting about Franklin, our home builders are swarming down to Franklin and building beautiful neighborhoods.
Really East of 65, if you can see it there. Yeah, right about where your cursor is. Southeast of the 65 road sign, on Carruthers Road, is where I’m seeing huge developments go in.
I’ve been very excited to pick up a few clients who’ve actually bought here, buying brand new and looking to hold it as an investment property.
So these are great spots.
These are, you know, kind of the 20 to 50 range for a three-bedroom, two-bath.
Matthew: And I will tell you downtown Franklin, I mean, I know a lot of people. Nashville has a really, really cool vibe.
I’m not a super cool person but downtown Franklin is kind of my vibe. It’s kind of old town, great restaurants, a lot to do.
So it’s not like somebody has to drive all the way into Nashville to do something cool.
This area, if you’ve never been there is so neat.
In fact, I had a friend that was in town there and they’re asking me what they should do and not, I begged them to go to Franklin. So very cool.
Well, that is Nashville. Duncan, I’m going to stop sharing. I’m going to let them see our pretty faces.
So one of the things we want to be is a resource for people and if somebody wanted to give us a call or give you a call to ask more questions, what’s the best way for them to do that?
Duncan: So reaching out through our office, 615-925-3880-3.
They can patch it through to me or through our support at gkhouses.com.
I’m always loving to talk shop, so would love to talk to you and make you dangerous in the investment game.
But talk about a safe place to park your money if you’re looking to invest in real estate where rental demands are super high, you know, there’s not much supply, people are rolling in there like crazy.
And I don’t see any signs of the hot market slowing down.
So again, if you need to talk to Duncan, please call him. If you just want to ask a few questions, he’s welcome or you’re welcome to do that and we would love for you to do that.
So I’m Matthew Whitaker, this is Duncan Murphy.
Thanks so much for watching.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.