All Forum Posts by: Chaelynne Pope

From my perspective, given the current interest rates / inflation environment (economy in general) it is best to save at this time for your next property purchase. I'm in the same boat as you, very low interest rate (below 3%) and unable to tap the equity as a BRRR does not make sense.

Don't give up!  It took me nearly 2 years to make all the renovations for my Knoxville home to become a rental.  Patience, perseverance, and persistence paid off in light of the large list of renovations!  It just took longer than the expected plan....  wishing you the best of luck!  

Interesting. I was advised by my lawyer to create an LLC and have a separate business checking account. I only have 1 rental property at this time, and per the advice of my lawyer was to put it in the LLC. The lawyer's perspective must have been the protection of my personal assets.

Hi Rene,

  I installed a four wifi camera system without the cost of a monthly subscription on the outside of my rental.  The batteries last about 6 months in each camera before recharging (aka no wiring either).  Eufy is the brand and I ordered via Amazon.  

I also used Greensky to install a complete foundation / sump pump system for my garage / basement of a 1965 rancher that typically flooded when it rained.  Typically, the quoting contractors have a lender they work with whether it be Greensky, Wisetack, etc.

Most of my Furnished Finder inquiries have been for singles and couples traveling in the medical / corporate field (and typically with pets). You have a fairly large home for that audience.  Every once in a while, an inquiry is made for a family for relocation purposes.  As an alternative, team up with your existing Insurance company or Relocation Companies in your area.

Hi Erik, 

  Yes, this would be a single family home.  3 bedrooms / 2 full baths.  

Thanks!

  Chaelynne

Need some advice.  How do I go about financing a rental build?  I have the opportunity to get two Amish cottage shells built to TN residential code.  I already own the property that these 2 shells would be placed on.  Once the shells are put together and tied-down on the crawl space, it is considered a Home on-site build shell.  This would be a 1250 sq ft home.  I have laid out the inside to be 3 bedrooms and 2 baths.  A contractor is currently quoting building the walls / tying in the electrical / adding the plumbing/etc.  I have tried working with local credit union banks, and they mentioned to get a home construction loan, it has to become my primary residence.   Any insight is much appreciated!