All Forum Posts by: Junior Francica

haha yes, I have heard that from everyone I have spoken to so prepared for it. We overvalued a lot of the rehab portion of it as well to make sure we have a good "slush" fund for costs.

Been an agent for a while and have been wanting to get my feet wet with flips and this deal fell into our laps and couldn't pass it up.

Investment Info:

Single-family residence fix & flip investment in Flora.

Purchase price: $125,000
Cash invested: $30,000

My first fix and flip with my business partner. Purchased at 125k and ARV (or resale value) is around 260k. Should take about 2-3 months of repairs.

@Myles Young There is definitely big businesses that are around that employ a lot of people. To name a few, we have a Volkswagen plant, various FedEx plants, Amazon warehouses, McKee Foods where all the Little Debbie snack cakes are made. 

 In Collegedale/Ooltewah area there is McKee Foods (little debbie snacks), a Volkswagen plant, an Amazon warehouse, a FedEx warehouse, and many more companies. 

Gotcha, like most have stated that's a rough area in Chattanooga. I am local to the area so if you need anything feel free to reach out. 

I haven't started investing myself but plan on doing so soon and I live in Chattanooga. As far as the crime rate goes, depending on the area that you're looking to invest in, just like anywhere else it's usually in certain areas. I was an agent here in Chatt in the past, so feel free to PM me or ask any questions you may have, would be happy to help. 

Hey Kwambe, what area of Chattanooga is your rental in?

Gotcha, well if the numbers work for STR then it can be something to consider. Something else to consider if you're purchasing a home close to downtown is whether or not it's close to the university (University of Tennessee at Chattanooga), another option, if STR doesn't pan out, is renting rooms to college students. Depending on how much sqft the home as you might be able to build out another room and get more through student housing rentals.

I'm going to shoot you a PM. 

Hey Baseem I'm in Chatt, I will shoot a PM.

Forgot to add that even though the market is growing year after year, don't count on that continuing forever and don't count on appreciation because you just never know.