All Forum Posts by: Gregg Baird

Quote from @Jason Wu:

Hey Knoxville investors!

Just wondering if anyone actually gets caught by the city when operating STR without the permit? Any suggestions for non-resident investors to get the permit?

Hey Jason, I’m a local investor here in Knoxville. 

Due to the dilemma you referred to, I went MTR with my house inside city limits.

As far as getting a permit goes, I’ve not talked to anyone that has been successful getting one outside of renting out a unit on their primary residence. That’s the only loophole I know of.

Quote from @Angela Orecchio:

Hello!  I have two questions.  My family and I are considering living around Knoxville area.  We have two small children.  We would like to buy a farm, 20+ acres.

1. What areas should we look in to find 20+ acres that might be a good , rural community?

2. We are interested in Brrrr deals, what areas should we research?

Thank you!

Angela

Hey Angela, I just did a quick MLS search with a minimum of 15 acres and turned up a small handful of properties. Don’t know your budget, but there are a few reasonably priced options out there. David is correct, look around Loudon, Lenoir City, and then down the I-75 corridor depending on your tolerance for distance from Knoxville. I saw one, 151 Gray Knob Rd in Kingston that caught my eye. Don’t hesitate to reach out. I love this stuff. 

John “Rusty” Foust

Originally posted by @Wayne Norman:

@Gregg Baird would you happen to have a ball park amount that you paid for that lease? I’m trying to figure out what a normal going rate is for a good lease. Also thanks for replying so quickly!

$250

I use Evan Anderson. I think he is with Blue Ridge Title in Morristown, but I have a relationship with him through my attorney(who said it’s a good lease). It’s pricey, but I know I’m protected. Good luck.

Hi there, I’m fairly new to BP and am a fledgling investor. I’m currently in school to get my real estate license and the instructor mentioned that he has a twelve unit complex he is looking to sell in the near future, off market. He also said he has 3 potential buyers lined up. When he mentioned he was thinking of selling, this naturally perked my ears.

I just bought a single family and duplex and ran through all my capital with conventional loans. I’m trying to not let financing be an issue for pursuing more properties, however I haven’t had a chance to read Brandon’s book on the subject so I’m looking to get a conversation going on what I can do to pursue this multi family property.

I apologize in advance if the moderators find this post not appropriate.

Details: 3 four plexes in one complex. All units are 2bed/2 full bath. Seller admits he hasn’t raised rents and he could get more. Sounds like he has maintained it alright. Self managed. Asking somewhere between 1.2-1.3 mil. If buyer could raise rent to market norm over time, it would far exceed the 1% rule. I’ve had one inquisitive/preliminary/informal conversation with seller. He is older and willing to pay CG tax now because he is worried about that going up in the near future.

Anybody, any insights?

Hi @Tabitha Gier, I’m a native Knoxvillian and just recently got into real estate investing myself. I actually just closed on my first two properties, a single family and a duplex. Check out KnoxREIA here in town. It meets monthly on Zoom, second Tuesday of the month I believe, and various other times throughout the month they have events. I'll start you out with a tip, Knoxville is a seller's market right now, so plan on being creative in how you find deals. Folks from California, New York, Michigan, etc, are drawn to Knoxville due to no state income tax, and the cost of living being so low. They can pay cash for houses. Hope your move goes smoothly and hit me up if you want to talk more real estate. 

@George Hernandez thanks George, I’ll check it out.

What books have you read that you found to be the best “broad stroke” on how to get foreclosure deals? I’m as new as they come, and all ears.

@Zach Westerfield

Thank you very much for your response.