All Forum Posts by: Chad P.

I'm an LP in a Syndication where DLP is also involved.  As I get this information 2nd hand, I'll just say, it hasn't went well.  I don't know the DLP side of the story but it appears as they are trying to force a sale that would wipe out the LP equity and investments.  Our issue is going to litigation.

@kevin sabatino I haven't bought anything here yet, prices did not make sense. Currently watching the market. We have been reinvesting the money from the rentals we sold into multifamily syndications so that we could get some of the depreciation to offset our capital gains.

I can't speak for Knoxville, but I moved to Cleveland a year and a half ago which is just north of Chattanooga.  Whole area is still pretty hot, but starting to see days on market increase with some price reductions.  There are always people looking for MTR and LTR rental here.  Short term near the Ocoee river for whitewater would also do pretty well during the season.  So don't rule out Bradley county, or basically any county along I-75 between Knoxville and Chattanooga.

What amenities would you look for in a STR cabin the Smokey Mountain area?
How would you rate the view from the cabin vs the location to local attractions as a top priority in your search?

@LandonEvans
Sure thing send me a PM

Are you insured for liability if something happens to a resident in a park owned home if its not covered by a policy?  What if a someone is hurt or killed in a fire or accident, just make sure you're covered, maybe talk to the agent.  We also added an umbrella policy just to be sure.

Do you have a sales contract?  You won't "own" the property until your name is on the deed.  Carry your contract to a title company and have them do a title search and get you a warranty deed.  It will have to be in your name to refinance.

Start viewing listings on MLS and then preview if you can, that way you can talk about what you have seen. Surf Craigslist for FSBOs and call them. We pulled a tax roll and send post cards to out of town owners to generate listings. Get to know local investors, they are repeat buyers. You can meet some by attending local auctions.

@Richard Lee Who did you go through for your drone training and insurance?  I have been thinking about getting one to play around with.  I would like to use it for pictures of my rentals and listings also.

I love to visit Chattanooga.  I am in a rural market but I think any bigger city connected to Nashville via interstate will do well.  Dickson, Clarksville, Columbia etc. Those don't meet your definition but they are growing fast.