All Forum Posts by: Saunya Wenger

Are you hosting a meeting in August?

Welcome to Knoxville! It’s a great place to live. 

I’m in Knoxville and I love it here, but I’m Not finding any deals in my price range that will cash flow well. I’ve expanded my search to an hour radius, but then the rent rates drop off. From what I’ve seen here lately, most houses are selling fast and above asking price. It’s compelling me to look further away. 
One tip I got from a local realtor is that nearby Oak Ridge, TN has better options for multi-family compared to their single family homes. It’s a technology hub with a national lab in the city and the public schools are good there. 

Hello,

Although I am a CPA I don’t work in taxes anymore I wanted to put my thoughts in. 
 Here is what I found from HRBlock: They say yes, you can contribute retroactively as long as it is before the filing deadline. I’m assuming this is the extended date of May 17th this year. Please double check at IRS.gov  I believe you want publication 969

Triple tax benefits with HSA funds- take advantage of it!

I have a friend who manages two of her own properties in Knoxville and one that she owns in Sevierville. She can tell you about her process that uses for her own properties or she may be interested in taking on outside properties to manage. 

I am scoping out an area outside of my state as well.  I can't find the right deal locally to cash flow or get a decent return on my investment that beats what I'm getting in the stock market, though I really want a property.  I have had some conversations with a local realtor in the area where I'm looking as well as a property manager who also has contacts with tradespeople for repair work. I found the potential property manager after getting in touch with a property owner based on a Zillow rental listing.  I emailed them and asked if I could ask them some questions about their local market.  They were more than willing to share information, including best areas of town to buy in.  After hours of looking at photos and talking with a local realtor, I'm going to go visit the city and see if all my "analysis" makes sense.  The cost of repairs and maintenance is my biggest concern since I'm out of town, so I'm going to be researching these when I get there.

NIck, 

I have a small project at my house in Knoxville and I'd like to get a quote from you. 

Thanks, please let me know when you're meeting.

I wasn’t able to make it in October. How about hosting a meetup in mid-January?

I'm in Knoxville, TN and I'm having the "Grass is greener" fears and considering investing elsewhere, too.  I think our real estate is stable and steadily climbing here, but it is influenced neighborhood by neighborhood, with some sections of town being overvalued in general. Memphis is more like "this is a good street, this one is a rough street." Chattanooga is more affordable than Knoxville. This is where I'm looking because I'm frustrated here in Knoxville. My college age son is paying $1,400/mo (with roommates) for a dumpy little house in a bad neighborhood near the airport that is not worth it! Call Shemika Copeland of ERA real estate if you want to get on her mailing list of properties that fit your goals. I'm doing this and one day I'm going to pounce on one. The college kids around UTC are open to living in not as desirable areas, compared to the UTK kids that want granite countertops in their apartments. 

One more consideration, Tennessee does not have state income tax but our sales tax is 9.75%. Live cheap while you can and best of luck to you!