All Forum Posts by: Allison B.

@Lauren Moore hope you can make it tonight!  Make sure to register on Meet-up.  There is a link above or you can also find the InvestHER Meetup - Nashville group on Meet-up and join to register for tonight's meeting.  If you have any problems logging in please text me at 802-370-0924.  See you soon!

Hey  @Taylor Lydon congratulations on pulling the trigger!! Have you considered short term rental opportunites like healthcare workers who may be looking for short term housing during the Coronagenden to protect their families from infection.  Contacting the hospitals in Boston to see if there is a need might lead to opportunity or post on a neighborhood forum like Front Porch Forum.  Another market to plug into are traveling healthcare workers (nurses, physical therapists, physicians assistants, etc) www.furnishedfinder.com - they rent shorter term than a long term tenants but longer than VRBO & Airbnb.  They are in your city to work and typically take great care of the properties they rent.  

Be well and believe that it will all work out!

Hi,

I’m vacationing in Boca this weekend and early next week and would like to get to get her with agents interested in working with Investors. I’d interested in properties in Boca that are short term rental eligible.

Thanks!

Investment Info:

Single-family residence buy & hold investment in Chattanooga.

Purchase price: $60

Bought my 1st rental with my IRA!

What made you interested in investing in this type of deal?

The Cashflow potential and the appreciation in the neighborhood.

How did you find this deal and how did you negotiate it?

A wholesaler that I know very well brought me the deal.

How did you finance this deal?

My IRA

How did you add value to the deal?

Putting $15 into rehabbing it.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Urban Core Construction in Chattanooga is doing the rehab!! I highly recommend them.

@Natalie Hahn is it your personal residence or an investment? Can you 1031 exchange it to avoid Capital Gains tax? Also, if you’re familiar with 1031 exchanges have you ever heard of a reverse 1031 exchange? They are the bomb!

Three of my mentors are in business together and own a bunch of rental property - every year they analyze their return on equity & return on investment for each of their rentals to decide what to keep and what to 1031 exchange.

@Joe Pearson Risk tolerance is such a personal thing. I recommend getting an understanding of the rental market in Manchester - I’m from VT so I’m know Manchester from having gone shopping at the outlet malls LOL. But that makes me wonder, what is the short term rental market like in Manchester - you might make more $$ on AIRBNB.

I have a high tolerance for risk as I am negotiating the purchase of a 5 bedroom home with owner financing that would require me to rent out bedrooms in order to make the payment each month....I know this market and I believe in myself so I’m going for it.

All the best to you & your fiancé in your investing future!

@Gary Crawford Way to go!! I am in the midst of negotiating owner financing on a home that I would house hack too so your story is inspiring.

@Elizabeth Wilson no worries - love hearing about banks that investor like working with...always good to have more than one banking relationship!

@Elizabeth Wilson I see that you're from Memphis - does Coffee County Bank finance properties in Memphis?  We've been looking to expand our network of Banks to finance properties throughout middle TN - Memphis, Nashville to Chattanooga.  

@Lori McGuire Congratulations on your recent investment purchase in Chattanooga!  Wish I had been in town and could have met you.  Did you enjoy your visit? 

We invest in Chattanooga as well and I'm curious if you're planning to place your 50 units with a local property manager?  We're always interested in building relationships with great property managers in the cities we're investing in.