“I think Nashville has an opportunity, because it was oversupplied,” Fishman said. “So rent went down, and prices went down. But I think the fundamentals of the city are very good. Universities, healthcare, life science, and Oracle are moving there. I think that’s another good spot to be in. Nashville used to be just a fun place, with music and everything.
“But if you go now, there are about 2.5 million people in the region. It has become almost like the capital of healthcare in the United States. There are more and more universities, healthcare centers, research facilities, and jobs in finance. It’s really becoming a very good place with job opportunities, growth, opportunity, and relatively good weather compared to the northeast.”
He said another benefit for Nashville is that there are fewer hoops for investors to jump through to get building projects approved. And for investors looking to leave the New York area, there are areas of Nashville that have a similar vibe to areas of NYC.
“There is much less red tape,” Fishman said. “In places like Germantown in Nashville, it’s very much like what young people like in Williamsburg in New York. It’s very cool and hype, and you have all the amenities that the neighborhood has to offer. I think it’s definitely an area prime for long-term growth.”
Another area that Fishman believes is a strong option for mortgage brokers working with real estate investors is Houston, Texas.
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