All Forum Posts by: John Britt

I know this is not the tread to post this question, but this is as good as anywhere.  @Brian Levredge have you thought about offering the tenants cash to move out, like the banks did doing the market downturn in 2009?  I am not sure how well it would work but it is a thought.

@Daniel Walker we are not noticing  any change as of yet finding tenants for the properties that we have.

That seems to be a really good price even for that area.  I would use www.trulia.com for crime statistics and another information you might want to look at to make that determination.  As a real estate agent and broker I can steer you away or to any particular community.    

I would add that if in order to have a four bedroom house that your bedrooms are small, that would make it more difficult to rent.  I would look at it from the stand point that 3 of the 4 bedrooms need to be able to fit a queen size mattress comfortably.  I would not be surprise if 4 bedrooms are in demanded right now, because of the tornado that hit our East Brainerd area.  Your clients will look at your house not just from the standpoint of the number of bedrooms, but if their furniture will fit in the house.

@Steven Peterson check out Gonzales Roofing.

@Jeremiah Russell remember this that if you are planning on living in one side that you will not be charged the higher tax rate.  The county looks at it as if you resident owner not a non occupant owner.  

I would consider 10% vacancy rate, 10% maintenance, 8-10% property management fee(depends on who you decided to go with), 10% Cap Ex.

Brian Levredge is an owner of a property management company and I work for a different company here in Chattanooga.  So we are pretty familiar with the area.  So far as the taxes goes, the rates are different depending on if you are in the city of Chattanooga or another surrounding city like Red Bank or East Ridge. 

Nadia Charmelus, Vision Realty & Signing Company

Brian Kelley, Liberty Realty

@Peter Nikic I feel that advantage of using a title company that the attorney is the owner of the company is that once you build a relationship you can make a call and get an answer quickly to a real estate legal question.  

These are the ones that I know where the attorney owns the company

First Title - Jeremy Ames 

Ensign Title- Peter Ensign - 

I do have a side note that it is company in Memphis for the attorney to be involve in all of the closings it handles.  That is why it is more expensive to close properties there than Memphis.  Ask me why I know this.

My experience is that I am a wholesaler and now I have recently past the real estate broker's exam this year.

@Peter Nikic are you looking for attorneys that own title companies in Chattanooga, or attorneys that handle real estate legal matters?

@Jordan Whitworth  I agree with what Brian has said.  I will just add if you are patient you can find the deals in any area that you might want to focus in.