All Forum Posts by: Cory King

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $330,000
Cash invested: $30,000
Sale price: $445,000

Light renovation project picked up through a wholesaler in the area. They had a hard time doing the dispo so I picked it up pretty much where they had it at. Updated in about 30 days and reposted back on the market. Updates included refinishing floors, paint, clean carpets, landscaping, electric panel and h2o heater replacement. used private capital for purchase and rehab. split profit 50/50. would've worked as a BRRRR also. opted to flip.

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

Quick turnover

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

Wholesaler brought it to me after they had a hard time doing the dispo

How did you finance this deal?

Private Capital

How did you add value to the deal?

Surface level updates mostly. Paint, refinish floors, fixtures/lighting, landscaping, replace electric panel, replace h2o heater.

What was the outcome?

Sold 4 days on market for full price

Lessons learned? Challenges?

pretty smooth overall. some permit challenges drug timing out a little longer than planned

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

self represented as agent. Approach Lending is a great south east region capital partner.

@Stanley Yeldell this can definitely be a tough conversation. When I've done this it's with ample notice. 6 months out, that way they have time to adjust and prepare. Depending on the condition of the property, doing a big jump may also require a significant amount of updating to bring something up to meet market value. If they're good tenants and you're patient a slow increase over time can also be efficient. I'm also a fan of lease options contracts. If your tenants have been solid, and you're open to it you could consider this strategy which can infuse capital up front and defer expenses to the tenants directly. Lots of options, curious which direction you'll end up going. 

@Britt Hennings LFG!!! solid win, that's my magic criteria as well. base hits win championships. enough of em will put you in the hall of fame

Quote from @John Russo:

Hi! I am new to the investing world and one of the areas I am looking to possibly get started in is Knoxville. I am out of state living in Southern California, but considering getting investment properties here. Just looking for anyone who could recommend a trustworthy real estate agent who has good experience with investors, connections, knowledge of the area, and would be willing to build a relationship with me. Thanks.

 Hey @John Russo Are you looking in Waco or here in Knoxville? 

Data Deep Dive: How's the market?

What's the outlook for the rest of 2025?

If trends stay on track, we’ll likely see modest growth—maybe around 4.1%

Here’s the wildcard: mortgage rates. If rates drop to 6.5% or lower, it could fire up the fall market as any downward adjustment would unlock affordability for many.

The real issue? Inventory mismatch. Most listings are over $250K—but most buyers can’t afford that. In fact, 85% of active listings are out of reach for the average household income. The average new construction home? $448,703.

The bulk of listings continue to lean toward larger, higher-priced homes, while demand is strongest in the more affordable range.

Bottom line: there’s momentum building, but we’ve still got a mismatch between what buyers want and what’s available.

ETN Realtors put out an awesome housing report which can be found HERE

I took some time to dive into it and summarized below if it's not your idea of a fun read.

2025 Housing Snapshot – East Tennessee  

1. We’re seeing signs of a market that's slowly finding balance. After a couple of years of price spikes and inventory shortages, things are settling down. Prices are still climbing, but not at the pace we saw during the boom. That’s giving buyers and sellers a little more breathing room. 

2. Inventory is finally back to pre-pandemic levels. We’re not where we need to be yet—especially with 50,000 new residents added since 2020—but the worst of the shortage may be behind us. Still, we’re playing catch-up after more than a decade of under building. 

3.East Tennessee’s economy is holding strong. Job growth is steady, unemployment is low, and the area continues to attract new residents and businesses. It’s a big reason why our housing market has stayed more stable than others around the country. 

4. Housing demand remains high, but buyers are cautious. Higher mortgage rates, affordability concerns, and overall economic uncertainty are keeping some buyers on the sidelines. But the demand is there—just waiting for the right mix of price and payment. 

5. Affordability is a major issue. The Housing Affordability Index hit a 40-year low in 2024. For a family making the median income of $70K, only about 15% of active listings are affordable. To afford half of the homes for sale, a household would need to earn $136K or more. 

6. We’ve got an inventory mismatch. Most of the homes for sale are priced out of reach for the average buyer. The biggest demand is for smaller, entry-level homes—but what’s being built is bigger and more expensive. That’s not a sustainable long-term model. 

7. New construction is picking up, but not fast enough. Builders have been adding homes, but the pace still falls short of population growth. Multifamily builds have helped, but even with apartment occupancy near 97%, demand is outpacing supply. 

8. Investor activity has cooled. Big institutional buyers that flooded the market in 2021–2022 have pulled back. In 2024, investor purchases made up just under 9% of home sales, down from 14% at the peak. That’s helped ease competition a bit for regular buyers. 

9. The rental market is still tight. Rents jumped 62% since 2020. Even though construction added thousands of new apartments, occupancy is still high and rent growth is expected to continue—just at a slower pace. 

10. Mortgage rates are driving market behavior. The "lock-in effect"—where homeowners don’t want to give up their low rates—has kept inventory tight. But that’s easing as life changes push more people to move anyway. 

11. Demographics are shifting. Knoxville’s population is aging fast. People 65+ are the fastest-growing group, and workforce participation is declining. At the same time, millennials are entering their peak buying years, which adds more pressure to the housing supply. 

12. The long game is about building the right kind of housing. We need smart growth—more small, affordable homes in walkable communities. That means policy changes, zoning updates, and support for builders willing to meet real buyer needs.

Quote from @Ben Barredo:

Quote from @Cory King:

@Ben Barredo what's up!? Good to see you jumping in. Always happy to be a resource. 

Hey man. I am sorry I haven't made it to your investment meetup. It just always seems to fall on times where I have to be with my daughter because my wife has things going on. I was close to getting her to make an offer on a property but then I saw the duplex needed too much and I also didn't think about adding the HELOC downpayment to the expenses which once I did plus the repairs it threw my numbers off. I do want to use the BRRRR method for a property this year but not sure how the HELOC repayment plus hard money payoff will work. IDK...probably overthinking it but would love to make it to your meetup so I can ask questions.

 All good man we appreciate the support. We have a morning coffee one now too to help accomodate folks who can't make the wednesday evening one. i'll send you details for that. same offer to in helping with running some numbers. 

@Ben Barredo what's up!? Good to see you jumping in. Always happy to be a resource. 

Quote from @Mike Schorah:

I have a full time job...

Option A. Is it better to hand dial 10 per day (all within 2 counties) at 8am for 15 minutes before I need to be at my job?

…or…

Option B. Is it better to call 35 per day (within a 40 mile radius) with a dialer around lunchtime when I have an hour to make calls?

I'd pull the list off the MLS at 7am when I wake up.

Thank you in advance for knowing what an expired/cancelled/withdrawn is.

I'd really recommended a blended approach of 1 hour spent on 35 calls to a tight radius. If you run out of expireds/withdrawn/cancelled move to something like non owner occupied homes.  

If you can become a specialist in a specific geographic area you'll have a much deeper market insight than 99% of everyone else. You're a true market expert. 

Like have 1-2 zip codes locally I know cold. Better than most of my peers and for that when a good deal shows up I know it immediately. Things like days on market, price points, neighborhood makeup, architecture... 

Otherwise Option B. You need time on task and 15 min isn't enough time. It's a numbers game so expectations need to be for around a 10% answer rate in general.

Just my 2 cents

Quote from @S Arely Cavazos Serratos:

We provide a great value to investors but sometimes they don't seem open to new opportunities. What approach works best on you?

This is an interesting space to be. So as an agent/investor I do both, I prospect "cold call" as well as receive cold calls. 

Our approach is one from contribution and understanding that #1 is a long game, wins will happen in the immediate but the fortune is in the follow up and the conversation is the relationship. and #2 this is all about tonality and the initial message or script you can get out in your first 10 seconds.

Asking about their buy box and if they are still investing is a pattern interrupt and one call that they are not receiving I can promise you. No one has ever called me to see what i'm buying, where, etc. See our script/framework below for ideas. 

Hi (NAME)? Hi (NAME)...it's (AGENT NAME) ... I'm an Investor & Realtor here in (Area)!
I saw you have a rental at (ADDRESS) & I was curious if you're still looking for deals?

ANSWER YES - Awesome!
1. Do you like to buy in a specific area or a more general area?
2. How long have you owned this property? (Really Wondering)
3. Do you have property management or are you handling it? The tenants have been pretty
good or has it been a challenge? Getting a good return?
4. How soon would you like to invest again?
5. What price point do you want to stay under?
6. Were you considering cash or financing?
7. Who else needs to be included in the decision process?
8. If you could find a great deal would you close on it in the next 60-90 days?
9. Out of curiosity, you sound like a buy and hold investor just like me...but if you were to sell
this property... What would you want for it?
• If you could get that number, would it be valuable to know how?

ANSWER NO - Awesome! You can still go into some of those above questions.

1. How long have you owned this property?(really wondering)
2. Do you have property management or are you handling it?
3. Need any contractor referrals?
4. Out of curiosity, you sound like a buy and hold investor just like me...but if you were to
sell this property... What would you want for it?
• If you could get that number, would it be valuable to know how?

• INTERESTED>>>>>>>GO TO CLOSES!!!

Quote from @Joey Stephens:

Hey everyone,

I’m trying to take the first real step toward buying my first investment property, but I’m hitting a wall trying to properly underwrite the numbers. I’ve watched the videos, downloaded a few calculators, and run some scenarios — but honestly, I still don’t feel confident I’m doing it right.

I’m not afraid of work, risk, or renovations… I’ve renovated countless investment properties for other people over the years and have a solid group of subs for everything on that side of things. But when it comes to the financial side of investing — underwriting, strategy, long-term planning — I feel completely bankrupt.

I know what it takes to bring a house back to life, but I’ve never bought one with the math first. This side of it feels like a different language.

If you’ve been where I am and figured it out, I’d seriously appreciate any advice, resources, or just a gut check. I’m trying to do this right and stay honest about what I don’t know.

Thanks in advance — looking forward to learning from you all.

– Joey

 Hey Joey

Totally feel you on this. It's taken lots of practice but I'm confident in the framework we've developed for under writing deals. Gimme a shout. I'm in Knoxville too