Looking for our first SFR rental purchase BRRRR in Tennessee

[Mike Katz]

HI All,

Thank you all for your thoughts on TN.

I am a new investor looking to BRRRR my first deal. Tennessee looks like a good place to own rental property. But some comments here have me asking if there are reasonable deals left? Also, I am hearing that contractors are in high demand and that rehab projects are taking longer and are more expensive, it this correct?

I would really like to get started before interest rates climb much further.

So, in a nutshell, is there anyone in TN that would like to work with me to find, rehab and manage a SFR rental property?

Thanks in advance for your input!

[Luka Milicevic]

@Mike Katz

What part of TN? 

[Mike Katz]

Hi Luka,

I had narrowed it down to Chattanooga or Knoxville areas.  But I am still open to suggestions.  Wanted to be in the $50-$75k pre rehab price range.  

Thanks,

Mike

[Eric Jones]

@Mike Katz I am active in the 37830 and 37716 area code.  I would be glad answer questions that you may have or suggest someone when I can't.

Thanks, Eric

[Emily Johnston]

The market in Chattanooga is definitely getting more competitive, but I have clients finding deals every week! Maybe see if you can connect with a wholesaler who can do the cold calling for you. 

If you end up needing help with rental management, please don't hesitate to shoot me a message!

[Mike Katz]

Hi Emily,

Thank you for the connection and offer to help!

I will definitely keep your info.

Sincerely,

Mike

[Reese Hamilton]

Hi @Mike Katz,

$50-$75k pre-rehab price is going to be distressed property in the Chattanooga Market. Definitely get hooked-up with some wholesalers who can comb the market. I can give you a couple of wholesalers to reach-out to if you like.

 What do you want to spend on rehab? You probably want to expect another 50K+ on rehab costs to get a property rentable. 

Start building your team on the ground in Chattanooga or Knoxville so you can be properly posied when a deal becomes available. TN Banker, two or three agents, PM, GC. 

Let me know what you need and I'll hook you up with the best in Chattanooga.

[Mike Katz]

Hi Eric,

Thank you for your reply and offer to help.  When questions arise in your area, I will definitely follow up with you.

Sincerely,

Mike

[Mike Katz]

Originally posted by @Reese Hamilton:

Hi @Mike Katz,

$50-$75k pre-rehab price is going to be distressed property in the Chattanooga Market. Definitely get hooked-up with some wholesalers who can comb the market. I can give you a couple of wholesalers to reach-out to if you like.

 What do you want to spend on rehab? You probably want to expect another 50K+ on rehab costs to get a property rentable. 

Start building your team on the ground in Chattanooga or Knoxville so you can be properly posied when a deal becomes available. TN Banker, two or three agents, PM, GC. 

Let me know what you need and I'll hook you up with the best in Chattanooga.

Hi Reese,

Thank you for your reply and offer to help, much appreciated!

I need it all, agents, PM, GCs etc. if I was a smoker, I'd need a kick in the chest to get it started (sorry old joke). But I truly do need to find good, local people to work with.  Any suggestions would be awesome.

Sincerely,

Mike

[Mike Katz]

Hi Everyone,

I am finding many RE agents willing to help me find homes and I appreciate that very much!

My next need is for general contractors and would appreciate any referrals you all have.

Thank you all in advance