All Forum Posts by: Danny Matthews

Hello,

I'm beginning to expand my real estate investing and will need a tax accountant who specializes in Out of State Investing and provide some guidance for the structuring of entities.  I currently have one property in the Fort Worth area and one in Columbus, GA. In the coming months I'll look to add a couple more properties in Columbus, GA and continue with this process for a few more years until I decide on another location.  So if you are aware of anyone who could help, or has helped you in the past please send me a DM, as I'd like to chat with your contact. 

Hello,

My wife and I are analyzing both the Knoxville and Chattanooga/North Georgia Markets, and are looking for some input from current investors.  Just to give you an idea of our background, we are CPA's located in Austin, Tx and currently have one property in the DFW area which for our goals has performed pretty well and is close to being paid off. But, with an increase of prices in the area (which I know is occurring everywhere) it's getting hard for it to make sense.  Which is why we are considering the Knoxville and Chattanooga areas, additionally I grew up in Knoxville and have a pretty good knowledge of the area.  

We're looking for pretty simple single family homes (3bd/2ba, no more than 1,900 sqft., single story) that rent out around $1,100 - 1,500/mo. in decent school.  Districts, is this reasonable given we're looking for homes all in cost of 110,000 - 160,000?  

Just to give you a little more on us, we're looking to use our rental property investments for cash flow, as we have a pretty good chunk of our current net worth in Qualified Investment accounts (IRA/401Ks) and would like to keep these primarily invested in equities for the long haul (20-30 years). So if we do it right we can use cash flow from our properties to protect against downturns in the market. Saying all this appreciation isn't a big concern as we'll hopefully get that from our other investments and just need our properties to cash flow. So in summary here's what we need to know:

1. Is Knoxville and/or Chattanooga/North Georgia good for Cash Flow properties

2. What's the economy look like in the areas (I have a general idea, but nothing compared to a seasoned investor)

3. Are good deals still in the areas, don't need a home run, just some singles and doubles would do. 

4. Anything peculiar about the areas that I should be considering. 

Sorry for the long windedness of this post, but wanted to provide enough detail so someone could understand where we are coming from. 

Thanks for any feedback in advance. 

Thanks Alex.  That's some really good information, I had no idea that there are some multi-family properties in Westlake, I'll have to take a look at those, but we were aware of the units in the 78759 area.  I appreciate the post, it seems like you've been doing this for a while and have plenty of knowledge about Austin.  I'll do some research with the information provided, and just want to thank you again for the post. 

My wife and I are looking to find a property to house hack.  We currently live in the Great Hills area and would like to stay here but are willing to consider a move out of the area if we find a property that works.  We have two young boys who have yet to begin school but the oldest will start soon, so we'd prefer to stay in a good school district.   Just to give you a little background on us regarding real estate, we currently "own" our home (we have a mortgage so don't really own but are in the process) we have a rental property in the Dallas/Ft. Worth area and would like to use the money we save house hacking to continue investing in real estate.  So if you are, or know anyone who has experience locating properties that would work for our scenario, please reach out and we can set up some time to discuss.  

Hello,

My name is Danny Matthews and I'm beginning to look at houses in zip codes 78660 and 78664.  I have no deals and no real estate experience outside of the fact I've listened to all 166 BP podcasts, currently on my second round of reading the Millionaire Real Estate Investor, and have made two primary residence purchases, which again gives me no live action real estate investing experience.  The game plan currently is to begin seriously looking I need he fall but in the meantime I'm looking to build a network that can help me locate a contractor, legal counsel (and I'm sure countless other other resources I'll need to get this business off the ground).  Looking forward to joining the community and will be posting periodically.