All Forum Posts by: Tanner Barnes

This is as far as my research has gone. I'll ask a few people I know that used to or have been on well water before, but of course none of them are from Sevier Co Tennessee. 

https://www.water-rightgroup.com/blog/owning-home-with-well/

I'm very unfamiliar with water that is sourced from a well, anything I should be weary of?

I wish it was city water running to a septic as that I'm more familiar with.

Is it possible to buy a house that's been defaulted on and is posted to go to auction at a later date, say 3-10-2020.

My thought process is that I could send hand written letters that the current occupant wouldn't throw away, ATTENTION GRABBING.

Just something like, I saw your house driving around, I really like the area and am interested in purchasing.

Would the bank go for this? Of course this is if the owner even brings it to the banks attention.

Is it possible to buy a house that's been defaulted on and is posted to go to auction at a later date, say 3-10-2020.

My thought process is that I could send hand written letters that the current occupant wouldn't throw away, ATTENTION GRABBING.

Just something like, I saw your house driving around, I really like the area and am interested in purchasing.

Would the bank go for this? Of course this is if the owner even brings it to the banks attention.

My biggest questions are when does diminishing return occur.

Price vs Sleep Capacity

1 bed / 1 bath vs 2 bed 1 bath vs 3 bed 3 bath. Combos of that for the location. I figured the 1b1b perform better throughout the year where something like a 3b3b performs better at holidays, but as a whole which performs better.

Mountain views vs no views, but havng seclusion, being between PF or Gatlingburg on US321 vs being at 1 over the other.

so what's your job description? 

I own my house out right, which I'm opening a HELOC to finance the purchase of my first rental property.

I know I need to close the HELOC before the end of 6 months, I have a .99% agreement for first 6 months.

My question get's into the financials of this. Do I need to refinance the Investment property with a mortgage when rehab is complete, or should I get my current house reappraised and mortgage it to pay back HELOC that I will have open using it's equity.

I think tax benefits as well as APR% will be better refinancing primary to get rid of HELOC?

Looking for thoughts on which property you guys would refinance to pay back the HELOC account.

You can do it for no money down in the end, but not from the beginning. You do need big capital to pull from.

My house is worth about 225-250k, I'm opening Heloc for 80%, buying a property for 120k rehab expected 30k-40k expected ARV 220-240k, 6 months in refinance bought rental, pay back all Heloc from the refinanced amount since that rate is locked. Keep Heloc open for next deal. Repeat.

Go for it, having your dad to talk to as an already seasoned investor is even better. Plus with him co-signing with you he's not going to let you or it fail. He will be there as a mentor to help you and make sure the property is worth it.

Thoughts on power lines and property values rentals. 

Maybe I could gripe enough to the city to get them buried in front of the vacant land and house to get businesses or sub divisions in here. lol