Price Points for Chattanooga Flips

[Daniel Walker]

BP Team,

My biz partner and i are looking at a possible flip/BRRR or two in order to gain additional capital for more rental buys. Two questions for the team:

1) what sub-markets/neighborhoods are looking ripe for SFH flips/BRRRs?

2) What price point (buy, renovations, ARV) is looking good for this strategy in Chattanooga in the near-term?

Thanks in advance.

[Adrienne Green]

Hi @Daniel Walker! The Chattanooga market is a great one to get in to! First, I'd note that BRRRing and flipping are two different animals in terms of investment strategy, so be cautious lumping them together. If you are looking to gain capital, then flipping is the way to go. If you are looking to build your portfolio with minimal capital outlay, then you'd BRRR.

In response to your questions, (1) all of the Chattanooga market is a green light for flips and BRRRs.  I generally try to stay within a half hour drive time of downtown, just to ensure demand.  (2) Median sales price is around $325k, so if you're at or under that, then you're in the cheaper part of the market, and demand for selling a flip should be good.