All Forum Posts by: Tyler Laugherty

@Matthew Swisshelm

- This is so great cause I've also thought of this same thing, except using an FHA loan instead of a VA. To me it seems legit as long as you're able to get the place for a discount and its in a good enough area that it should rent at the rate you need consistently. Good plan!

That definitely makes sense.  And I assume that a project manager does *not* have to have a contractor's license?  Or is it common that they do have one?

@Aaron Montague

Thanks for the insight.  I'll have to do some research on where the large (non-road) construction projects are in Knoxville.  Seems like most of the time they're working on NOTHING but roads. ha

@Ryan Ilardi

Thats too bad South Knoxville may not improve much overall, despite the waterfront construction.  Is it true that Knoxville is in a deep 'sellers market' right now?  What's the market inventory at right now - less than 3 months?

@Account Closed

So Ryan, since you are the agent in Downtown Knoxville, what are the up and coming neighborhoods right now?  I know they are doing work to upgrade the edge of South Knoxville across the river from Neyland, but how far back do you think the influence of that new space will stretch?  South Knoxville could use some work for sure.

Thanks @Rodney Marcantel, @Richard C., @J Scott, @Bill Gulley

I appreciate the info!  Some of the suggestions I already knew but read some new things too - so thanks.

@J Scott - how much less do you generally pay a project manager vs a GC.  I know we can do exact numbers here but is it something like you'd pay a proj manager 75% of what you'd typically have to pay a decent GC (or something like that)?

For very experienced investors who have done rehabs, either for flips or holds, what are the common things that are done to reduce the rehab budget and save money right off the bat - but without being 'shady' or doing shoddy work?

Thanks

Hi all-

How do you tell if you are looking in an A-B-C-D class neighborhood when it comes to searching for properties to buy and hold?  I understand that it will depend on which part of the country you are in, etc, and that a $300K place in Los Angeles might be a C for that area but a $300K place in Huntsville, AL might be an A+.

I'm looking to buy properties in the area of Knoxville, TN (pop. ~183,000) and was wondering if anyone had any incite on how I could best rank the neighborhoods based on a couple of key factors.  Is it best to just simply go by median household income, crime rate and K-12 school rankings?

Thanks

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Sounds good!  So either of those spots can be had without a financial background or degree in a financial field?

Okay so it'll take about 2-3 years of steady gross income without cutting into it too deep with write-offs before I will have conventional loans available as a source of funding.  And then when I do need a conventional loan I'll go with a portfolio lender.  Luckily, I may have some contacts that can help me with that.

Thanks everyone for your responses!

Hello all -

My current non-RE related job is probably going to end in about 6-8 months and I'm trying to think through options on whether to do REI full time or if I should get a job in the real estate industry for a while so my family is not 100% reliant on investment income to pay the bills. I would like to be able to reinvest some of that money anyway. My wife is thinking about becoming an agent, but from what I hear banks will not take her job as an agent into account for a loan for atleast 2 years.

What are my options as far as a job in the RE industry?  Could I pull a @Brandon Turner and spend a year or two as a loan officer just so one of us has a W2 job?

P.S. - I have a B.S. in Political Science, not exactly a degree in real estate...

Thanks!