All Forum Posts by: John Britt

@Patrick Rodo We might be interested in working with you. Please reach out to me.

@Tara Menk My guy Miguel can handle that.

Hello BP,

I am looking at getting into AirBNB investing, but first I wanted to see if this deal that I have in Chattanooga makes sense as an AirBNB. The problem I have is that I am not sure of the data I found. The unit will be rented for 70% of the time, and the rates I am eye-bowing for the Chattanooga market. Here is the deal:

This property has a 3 bedroom and 1 bath house that is currently rented and a second house that sits in the back that is a 2 bedroom and 1 bath, which is the house in back. The market rate is between $2,300 to $2,700 gross a month for both under a year lease. . But I don’t think that is the best use for this property. I believe AirBNB is the best use for this property because of the close proximity to Downtown. Look at these numbers with the property being rented 70% of the time(even though the data site says that the average is 77% of the time), and the average stay is 2 days. I am assuming the 2 bedroom house average rent would be $55 and the 3 bedroom would be $150 a night. The monthly income could be $4,337.00 a month. Would a purchase price of $235,000.00 make sense for both of these houses when you will have some interior work that will be needed?

This company is not in Chattanooga, but they have a couple of Multifamily properties that they do manage.  Lexington Asset Management.  They are headquartered in Memphis, TN.

@Taylor L.  My partners and I have been wholesaling and single family and multifamily properties over the last year.  I would like to work with a Hedge Fund in order to grow our wholesaling business, and then compete with other property management companies to manage their entire portfolio here and handle the management in other Tennessee cities.  That is my strategy.

I would love to talk to anybody that needs a PM in the Chattanooga market.

@Mike Kennedy I would be available to meet with you for lunch the 21st if you would like?

@Eric Blackwell We can help you in the property management area for North Georgia and Chattanooga.

We can handle all of your Chattanooga management needs.

Hi Biggerpockets!  On this subject I do not know where to start.  I would like to reach out to some Hedge Funds to bring them to our market here in Chattanooga, TN.  But I do not know where to start or how to find them or how to get in contact with them.  I am looking for any ideas or suggestions.  Thank you.