Al's Tennessee Research Trip: Market Analysis & Investment Opportunities

"You get the best information from the people that are living there doing it, as opposed to the people that are livin' outside of it and makin' stuff up."

Al Gordon takes you through Tennessee with detailed market research from his recent trip exploring potential investment and living opportunities. After years of avoiding Tennessee based on misconceptions from his Las Vegas upbringing, Al shares his findings from visiting major cities including Chattanooga, Knoxville, Nashville, Clarksville, and Memphis.

Before visiting Tennessee, Al had formed negative impressions about the state from people he met growing up in Las Vegas and during college at USC. At a recent Lifestyles Unlimited expo, he spoke with Tennessee members who corrected his misconceptions, leading him and Tina to research the state as their next potential home base and investment market.

What You'll Discover

How Al's background growing up in Las Vegas led to misconceptions about Tennessee that prevented him from considering it as an investment market

Why Tennessee's 7.1 million population and economic growth patterns attracted Al's attention for potential relocation and investment expansion

The specific economic data Al gathered on five major Tennessee markets, including job growth rates, median home prices, and rental income calculations

Key Timestamps

01:29 Al explains how growing up in Las Vegas exposed him to negative opinions about Tennessee from people around the country

08:26 Why Al sought out Tennessee members at the Lifestyles Unlimited expo to get firsthand information about living there

17:49 Chattanooga market analysis: 181,000 population, tech hub growth, median home prices $200,000-$250,000

23:09 Nashville economic data: 689,000 population, 6.6% job growth 2022-2023, median home prices exceeding $400,000

31:03 Al's rental income calculation: $1,500 monthly rent requires $54,000 annual household income using 3x multiplier

FAQs

What misconceptions did Al have about Tennessee before visiting?

Al grew up hearing from people in Las Vegas that Tennessee was "kind of a backward state" and "behind the times." These opinions came from various people he met, whether they had lived in Tennessee or not, and were reinforced during his college years at USC. He admits these were based on misinformation rather than facts.

How does Tennessee's economic growth compare to Texas according to Al's research?

Al found that Tennessee is "very closely aligned to Texas with regards to economics" and is "a growing state" with 7.1 million people. He discovered Tennessee offers similar economic opportunities for both single-family and multi-family real estate investing, with diverse job markets and growing populations in major cities.

What rental income requirements does Al use for Tennessee properties?

Al calculates that $1,500 monthly rent requires tenants to earn three times that amount, or $4,500 monthly ($54,000 annually). This applies to total household income, so a married couple making a combined $54,000 would qualify for his $1,500 monthly rental properties.

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The information and opinions on the Lifestyles Unlimited Real Estate Investor Radio Show are for entertainment purposes only and do not constitute investment advice. Please consult a professional regarding your personal investment needs.