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Updated almost 8 years ago,

User Stats

6
Posts
3
Votes
Jonathan Horton
  • Wake Forest, NC
3
Votes |
6
Posts

Switching a primary home to a rental property

Jonathan Horton
  • Wake Forest, NC
Posted

Hi BiggerPockets,

I am a 24 year old currently living in Charlotte, NC but will likely be making the move to Knoxville, TN for work.  I bought my Charlotte, NC home almost a year ago with the intentions of renting it out in the future.  The future has come a little sooner than expected, but I believe that I can rent out my current home with about $200-400 monthly cash flow after paying a property manager but before saving for capex.  I also believe that with my salary and savings, I can afford to purchase a nice 2 bedroom townhouse in the college town of Knoville, TN for $100-120k, which I also plan to rent out at a later time.  Some questions and concerns that I have:

  • What are some of the questions I should be asking property managers?
  • Does anyone have any concerns or more profitable alternatives to this plan?
  • Does anyone have preferred property managers in the Charlotte area?

Thank you for any input!

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