All Forum Posts by: John Daly

Beautiful finished product. Well done!

Jaysen,  thank you so much for the advice. You know, I am a little uneasy about renting to people I know.  It makes me feel there may be some I'll feeling in the future. Actually, an equity loan might be a better way to go  and is probably a better idea.  I'm just wondering if there are any other pitfalls I should look out for.

Ken, thank you so much for reaching out and for the advice. I'm so glad to hear that it worked out for you. We just went to view the new Douglas Heights  student apartment complex and may be faced with rent amounting to $750 per month. So, I am in the same situation you were in a few years ago.  I am relieved to hear that you're  paying tenants covered the mortgage on the property. Yes, I have a handy man that lives near me and I've used him before. If it is something during the night I can look after it myself.  Did you find it easy to track down the condo, or had you been looking for a while? 

Hi everyone! I am new to these forums and pretty new to bigger pockets. I have an above garage apartment behind my house which I rent out. The house is about 1.5 years old so I have been a landlord for that long. I'm getting $1000 per month for it and I have an excellent tenant. I'm looking at a house in an up-and-coming neighbourhood here in Chattanooga. The asking price for the house is $120,000. I'm thinking about the BRRRR method and I would like to buy something in that area that would generate an income. My daughter will start going to the University nearby in a few months. Instead of paying rent on student accommodation, I would like to buy this three bedroom house and have her friends rent the other two rooms. I have equity of about $280,000 in my home and roughly $15,000 cash. Any advice would be greatly appreciated. The prospective rental house needs some cosmetic work and maybe an AC unit upgrade. What type of loan should I apply for? Should I even pursue this? I am a newbie, so I will be grateful for any advice given. Thanks!

Is there a Smart Move app??