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All Forum Posts by: Christopher B.

Christopher B. has started 26 posts and replied 686 times.

Post: Investor Friendly Lenders in TN

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

My mother is from Morristown. Spent a lot of time up that way over the years. 

I'm not sure if they're up your way but Mountain Commerce Bank here in Knox is known as investor friendly. I have found this to be true from personal experience. I also know people that work with Home Federal Bank as well. 

Post: Building a team in Knoxville

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531
Originally posted by @David Morgan:

I've had good experiences with Joey English at Trotta Montgomery Real Estate, and David Conner at Foothills Bank & Trust in Maryville for portfolio loans.

Zero luck with property management companies. I ended up hiring a former tenant who took exceptional care of a rental as a manager. Best decision ever.

You won't have any trouble finding quality contractors. 

"You wont have any trouble finding quality contractors" 

Haha said nobody ever. I am a licensed GC and it's not easy for me to get subs on some stuff. Almost every builder and even sub I know is having trouble finding people to get stuff done. There is more work than people right now. 

Sounds like you've had good luck though. That's awesome but don't think it is the norm. 

Post: What was your worst home renovation fail!?!

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531
Originally posted by @Kumar Tummalapalli:
Originally posted by @Joseph Berhane:
Thinking I could get away with hiring cheap contractors. Even when everyone said not to I still did! Now I have 2 licence contractors that I love! The cheap contractors were nothing but problems bought the wrong materials, over used mud, over used liquid nails. I have spent more money in wrong and unreturnable items rather than hiring a professional licenced. On my townhouse if I would of hired the right guys to do the job I would have saved over $6,000, job done right the first time, sleep, and my sanity.

Are there simple things , that you thought anybody can do ? or is it best to always use the best guy

Also - will having a high quality licensed guy manage these low skilled guys - might help? 

I have no practical experience just asking these qns from my experience in my day job ( a diff profession )

First rule of construction, it always looks easy when the tools are in the hands of someone who knows how to use them. I vote for letting the pro's be pro's but it's ok to do some stuff yourself in the beginning to learn a little. It will help you relate better to the trades and have a better understanding of why things may take longer, cost more, etc. 

It's hard to find good people. So the trades often have a steady flow of new faces on their teams, working through people until they find the good ones. I have found that not every tradesman wants to be a supervisor. If you have a good, knowledgeable tradesman who also doesn't mind managing people then you've got a true rockstar. However, some just want to come in and do their job and then go home.

Post: What was your worst home renovation fail!?!

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531
Originally posted by @Todd Dexheimer:
Originally posted by @Christopher B.:

I bought a 1920 farm house once 

 Is that a plywood driveway? I've always wanted one of those!!!

You have fine taste sir haha

The lot was small and on a busy road. There was a 2 acre field next to this house on one side and a private road's gravel parking area on the other but the neighbors wouldn't let us use them. The ply wood was thrown down temporarily to provide some traction for trucks and a walking path

Post: real estate license

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

google real estate license Dallas,texas. There are companies that will guide you through the process. 

Post: What was your worst home renovation fail!?!

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

And it turned out to be a termite eaten 1823 log cabin sitting on boulders... oops

YUP, it's a log cabin!

Top story of the house is sitting on steel i-beams and 4 stacks of railroad ties. Notice how you can see through the entire house

At the top right you can see the roof, notice how the trackhoe is INSIDE the house haha

Whew, finally putting in the foundation here.  

Post: What was your worst home renovation fail!?!

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

I bought a 1920 farm house once 

Post: Nearing the end of my first Flip (pics)

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

@Aaron Farr That's a year's salary for most though. It's easy to get caught up in the metrics sometimes and forget the real dollar amounts. Nice profit for your first deal and a big project that I am sure taught you a lot. Congrats again

Post: Nearing the end of my first Flip (pics)

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

Looks good Aaron. Great job on the front facade transformation. Pretty advanced stuff for your first time. I bet it will sell quick

Post: First timer with a need to know basis.. need help

Christopher B.Posted
  • Rental Property Investor
  • Knoxville, TN
  • Posts 701
  • Votes 531

Your interest rate should already be low. HELOC and buy a property. BRRR. Pay HELOC back. Buy another property. BRRRR. Pay HELOC back.. repeat