All Forum Posts by: Colton Pearson

Thanks for the reply! It is actually on the cities sewer system which is a huge bonus. I will check into foundation...

Thanks!

Hey all! So I can pay cash for a 1bedroom 630sqft house built in 1955. It obviously needs a lot of work, but 630sqft is a VERY small area to renovate. Also has an attached awning/carport. It is in a "meh" to sub-par neighborhood, but really close to a University. Having trouble nailing down an accurate ARV...houses in the area are literally all over the place. From my research it looks like we could sell it for $75,000 fully renovated. However, I plan to rent it out rather than flip it. Being so close to campus, I figured I should have no problem renting it for $500/month (more if possible).

All that being said, I am new to RE investing so I wanted to see what all you professionals thought. I feel like it would be very hard for a $22,000 purchase (not including renovation) to go south. Or maybe that is just my ignorance?

Thank you for your time,

-Colton

Thanks for the reply! I sent you a pm.

Hello all! I am looking for PML's in the Knoxville area? I have searched these forums high and low, but have not found anything posted recently about this. Also, is the Knoxville REIA the best place to network in the area?

Thank you in advance for your time,

-Colton