Updated about 5 years ago on . Most recent reply
Fix and Flip - Chattanooga TN - FOR SALE
Investment Info:
Single-family residence fix & flip investment in Chattanooga.
Recently finished a full gut rehab on a 2bed/1bath SFH in North Shore, Chattanooga, TN. It is currently listed for sale and we are hoping to find a buyer soon! It's a great property for investors as we have gotten a ton of rental option requests. It is minutes walking to shops, cafe's and the downtown area, as well as near by hiking trails and waterfront. Please reach out if you are interested!
What made you interested in investing in this type of deal?
The location. This spot is in the best part of town and situated right on the outskirts of the city. Everything is within walking distance, Publix Grocery, restaurants, cafe's, Walgreens, as well as the pedestrian bridge and multiple parks and hiking trails are only about a mile away. It's on a one-way road so there is very little through traffic. It sits high on a hill to give you a major view and almost feels as though you are living in a modern treehouse. Updated neighborhood.
How did you find this deal and how did you negotiate it?
We found this property listed on Zillow and had one of our team members go check it out in person as we don't live in town. It was investor owned and they had too many other projects going on that they were selling this one to open up funds. It had been vacant for more than three-years and was a total gut.
How did you finance this deal?
Got a fix and flip loan through Center Street Lending.
How did you add value to the deal?
Hired a great team to completely renovate from top to bottom. Brought the property back to life, reconfigured the framing to add a second bedroom and modernized the design and functionality.
What was the outcome?
Currently listed for sale - please reach out if interested!
Lessons learned? Challenges?
Flipping remotely is difficult. You really need to trust the team you put together to make sure all the renovations are done correctly the first time. We went to visit the home when it was nearly done and had a big checklist of small things that needed to be fixed or redone. Hard to see in photos, so it is a must to have a good team on the ground and maybe someone not affiliated to check in on the work for you.
