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Updated about 4 years ago on . Most recent reply

Caleb Duncan's profile image
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Caleb Duncan
  • from Camp Lejeune, North Carolina
  • Member since Jan 8, 2017
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Caleb Duncan's profile image
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Caleb Duncan
  • from Camp Lejeune, North Carolina
  • Member since Jan 8, 2017
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Caleb Duncan
  • Camp Lejeune, NC
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Chattanooga Real Estate Forum

Chattanooga TN Investing in the ghetto

Caleb Duncan
  • Camp Lejeune, NC
Posted

New to the area. Has anyone done any deals in the ghetto??? Any info would be appreciated. 

Chattanooga, Tennessee
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Dan Beaulieu's profile image
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Dan Beaulieu
  • Lender
  • from Knoxville, Tennessee (TN)
  • Member since Oct 26, 2016
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Dan Beaulieu
  • Lender
  • from Knoxville, Tennessee (TN)
  • Member since Oct 26, 2016
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Dan Beaulieu
  • Lender
  • Knoxville, Tennessee (TN)
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Dan Beaulieu
  • Lender
  • Knoxville, Tennessee (TN)
Replied

@Caleb Duncan Don't. You will have a very hard time refinancing with banks and finding good tenants. Mostly would be section 8 and they will be very hard on your property. Calculate repair costs at 20% instead of 5%. 

With that said, there can be some pretty sweet cash flow in these types of units especially small Multi Fam. Good Luck! 

  • Dan Beaulieu
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