All Forum Posts by: Tyler Martin

@Kim Clowers I did! We didn't use them -We ended up going with something that didn't need extensive work, but we were exploring options with Dennis and Omar from A-1, in Chattanooga. I would recommend getting a hold of them!

Thanks for reaching out Anna, and I would love any recommendations. Sending you a PM now!

Thanks Jim! I will send you a PM and would love to connect.

Hey BP family! I am an investor in the Chattanooga, TN area. My girlfriend, soon to be fiance, and I are moving to the Boise area later this year. We would love to continue our investing journey in our new town. Who are some of your favorite realtors, agents, brokers, etc. that you would recommend for starting up a new team? We are coming out to visit in a few weeks to check out the area and get the lay of the land so to speak, and we would love to connect with the local experts!

Any information is of course, greatly appreciated.

@paulwelden Thanks for the info! Looks like this website does not have any listed in my area.

Hey BiggerPockets family!

Does anyone have any recommendations for contractors in the Chattanooga, TN area with experience in working with FHA203k loans?

Cheers,

@Blair F. Great! Would love to potentially find a lender who is savvy in this exact situation. @Michael N. I will definitely stay patient in the search for property #2 when the time comes. I just did a little research on the 250k tax free, and that is good to know (thanks for that). I plan to buy and hold, and eventually trade up within the next 5 - 10 years. So if it gets to a point where 2 years makes more sense, that is a huge advantage! 

@Blair F. Thanks for the info! I knew I had to get to 80/20, just wasn't sure the best way to go about it. I guess I was looking for reassurance that strategically increasing value through renovations is in fact the way to go.

Now once I get to the position where its time to talk refi, when you say "a lender," would this be the lender I already have the home loan through, or is that someone I can shop around for? 

@Korie Apgar Per FHA rules, i have to occupy the rental for at least 1 year. Refinance to conventional, then find another property using FHA again, utilizing the 3.5% down instead of conventional 20%, and repeat. This is a little different than BRRRR because I have to occupy the rental the entire time.

Thanks for that! You are spot on with the planning aspect for sure. I started doing this when I first was looking to purchase and have focused most of my time on renovations. Definitely going to re-familiarize and revisit that plan while I wait for my electrician to set up my dish washer!

I am about six months in on the first duplex "House Hack" journey, with an overall plan of refinancing my current FHA loan into conventional, and using FHA again for property #2. Pretty standard, yeah? I am finishing up rehabbing my side of the duplex, and looking towards my next step... and I am not sure what direction that step should be in. I am somewhat aware of different options I have, like working on paying towards principal to get to a place where I can refi, increasing property value being aware of appreciation, etc. But I have no clue on what path is best for me. So I really have two questions here:

1. Who would be my next person of contact to help guide me through this process? (LO, someone specializing in REI, a Yodaesque person who has all the answers?)

2. If you could go back, what would you have done differently to make your time in between properties shorter and more efficient to purchasing your next? I am only 6 months in and I am already well aware that this whole process is learning from the mistakes or missteps we make, and I am curious what you all may have encountered in your journey.

Y'all are rock stars!