All Forum Posts by: Phillip Ballard

@David Olson Glad it got some traction from people. I was just recently in Chatt for my cousins wedding but did not spend much time on area research. May be out there again sooner rather than later. 

@Doug DeVore I feel you on that! My career is here in CHI at the moment (they may move me). However, I do know that I would like to invest elsewhere. Feel that there are better places with cash flowing deals, less taxes and hoops to jump through. 

What are the reasons you are expanding in TN? Or just expanding there as you will be living there? Offloading the vacation rentals in CHI or holding onto them? Just curious on your thoughts. 

@Ali Boone PM sent.

@Michael Burrows Thanks for the information. All great insight and things to keep in mind. I forgot how many solid private schools are in Chatt. As @Drake Payne mentioned above, I am hearing from my family in Chatt that Red Bank is kinda the hot area to be at the moment.

@Riley Kurtts sent you a PM.

Good to hear from yourself and @Lucas Carl that there are a good amount out there. Not sure if low income would be my first choice as a first investment but if a good deal arises then it’s still an option.

@Riley Kurtts Thanks! How often do you all see good deals on multi-family properties? Seems like the Chatt market has a few multi-family properties but not an abundance, could be wrong with that assumption. I am just in CHI where multi-family is so common. 

@Caleb Bryant That is good to hear. Always a plus when you hear of people owning in the location you are investigating. Will keep my eyes open for others that may have property in Chatt. 

@David Olson I understand completely. Doesn't seem like there is a "perfect" city at all right now but the overall trend of Chattanooga still seems to on the up and up, especially with VW. That with a combination of family/friends and being close to my hometown Chatt was a plus for me. I am in the same boat as you when it comes to MFHs, have mainly been looking at those in CHI but when it comes to Chatt I am open to multi-family or single-family homes as long as they cash flow. I agree that Chatt seems like a market that can be utilized long term.

My biggest fear/concern is that since I don't know the area extremely well is that I miss on the location.
   

Hello,

I am wanting to get started in real estate investing, have been for awhile. However, my market in Chicago is a bit crazy at the moment. Also, CHI just recently decided to get rid of the 5% down program which is crucial with the prices here. I have recently been looking in the Chattanooga market as I am originally (born and raised) from Knoxville, TN. I also have family and friends that live in the Chatt area. Was just recently in Chatt and was very impressed with the city. I am somewhat (not very) familiar with the area but do realize that Chatt is growing. Looking to make connections and build a team to hopefully jump in and hit the ground running. 

I am looking for SFH or MFH to buy and hold for cash flow while scaling in the coming years. I would obviously need help managing the properties as I would still be in CHI. Browsing on Redfin it seems like there are options but once again, not familiar with the areas, schooling, etc. Just have hesitation while being removed from the market with minimal information.

Any help would be appreciated. The more connections the better! 

@John Acheson Thank you for pointing out the above. I only mentioned a low net income on the first property, which would allow me to live for near free and pocket all income from  my 9 to 5. I would eventually want to build a portfolio of properties that bring in a healthy amount of income via "passive". 

I set all my goals in realistic and achievable steps to keep me going. First, I want to have additional income to invest more. Next, I would want to earn enough to cover ALL monthly expenses. Finally, be able to generate enough income to be financially free and able to continue investing. Would love to continue pushing forward to become a millionaire, who wouldn't?   

I have read some (minimal) on starting a business LLC and need to do more research on the topic as I read some amazing benefits and potential.

Thanks again!