All Forum Posts by: Emily Golec

@Gerald Valentin when doing my flip, I just contacted my regular insurance company and told them I was buying a second home, that I'd being doing some renovations on and it would be vacant during this time. Don't buy a 'term' policy. Just do a regular yearly policy that you pay monthly on. When you sell, you cancel the policy. You can always add extra umbrella personal liability policy on top as added protection.

I'm not an expert on insurance (so ask your insurance agent) but this worked for me. 

@Jonathan Horton I'm in the Knoxville area and I'd love to help with your new home search! 

Aside from the typical questions you might ask property managers, such as what their fees cover, how they vet potential renters, who do they use for maintenance issues, etc, you may want to ask for references or a list of properties they manage. Particularly if they manage buildings or a condo development, you can drive by and take a look at the upkeep. 

@Blake Milliken I am familiar with that college. It's a private college here in town. No on campus living. It's geared toward people who aren't looking for an on campus living experience anyway. Very beautiful building. Conveniently located close to interstate and shopping. Seems to be an area people look in to rent. There are a few apartment buildings in that area, but I would think occupancy would still be good. 

Hi Alyshan! I'm a Realtor in Knoxville. There are things that pop on the market but the good ones go quickly. You need to have an alert set up directly from the MLS that sends new listings that meet your criteria right away. I'm happy to do that for you. Feel free to call me if you have additional questions. I've flipped 2 homes and helped others with investments.

Blake, I can help you with the Knoxville area. I'm a realtor here and very familiar with Knoxville. I do some work in Maryville as well if that's your interest. Just let me know how I can help. 

This lovely Contemporary Colonial along with it's own PRIVATE DOCK is the perfect lake getaway. Comes FULLY FURNISHED. It's currently rented on VRBO and INCOME PRODUCING. Very well cared for. Located in this quiet, well kept community. This large home can accommodate the whole family, parents, grandparents, and children alike! Sleeping areas on all 3 levels, huge wrap around porch with views of lake, and mountain, soaring windows face the lake, entertainment areas, open great room, kitchen and dining. Buy this property for your family or private retreat and rent it out when not in use. Seller is transferring his VRBO account and list of returning renters to new owners. Completely turn-key!

To see more photos - http://www.flexmls.com/share/gQ9I/265JacksBluffRdN...

 To see on VRBO - https://www.vrbo.com/179484

4 Unit Property Conveniently located to downtown Knoxville. 2 buildings with a total of 4 units. Updates have been done in 3 of the 4 units. Building's maintenance has been well maintained.Separate off street parking available for all 4 units with 3/4 covered. Electric is separate on all units and paid by tenants. Water is paid by tenant on unit 4, paid by landlord on 1,2,3. Unit 1-2 bed, 2 bath; Unit 2-2 bed, 1 bath; Unit 3-1 bed, 1 bath; Unit 4-2 bed, 1 bath. Appliances stay. Buildings have easily maintained a positive cash flow when rented and current owner is very conservative in what he has charged for rent. 2 have been left open for viewing.  Long term owner has rented to professionals and college students. Owner has moved out of area and looking to downsize and simplify. EXCELLENT INVESTMENT PROPERTY! For more photos-http://www.flexmls.com/share/gQ6b/1517NECokerAveKnoxvilleTN37917

@Cary Beadle I'm an agent in Knoxville. I'd love to help you!

@Carol Birnberg @Chris Eaker is correct. That is a common rate in the area and the market is good for sellers right now. If this is your first flip, you may actually benefit from paying it. Consider the advice of someone who could tell you what sells and where you will get your biggest ROI during your flipping process, someone who knows contracts and other legal documents needed to keep the transaction clean and protect your interests, and someone who knows how to market to sell quickly, handle multiple offer situations, and vet buyer's financial qualifications. It may actually pay for itself in the long run if the advice you are given nets you more proceeds at the end.

Thanks Ron and Peter for the welcome!  

BJ I'm happy to throw around ideas, but don't have any clever ones on how to do less than 20% down on investment purchase. Local banks sometimes have their own programs that are a little more flexible than larger ones, but are still going to want the 20% down payment. I'll keep an ear open for something that might help you.

Alec, I haven't yet, but it is on my calendar. I plan on being at the next one! Would love to meet you at the next one.

Christopher, conrats on the purchase! Looks like you have some great goals on the horizon. I'd love to meet for coffee when you are in and discuss the market. Just let me know what days you will be in town.