All Forum Posts by: Vic Liang

My agent Eddie Bodkin of Real Estate Partners Chattanooga is fantastic and helped me out with my first two duplexes!

Eddie Bodkin

Real Estate Partners Chattanooga, LLC

He helped me buy my first two properties and I want to bring him all the business I can. Tell him I said hi!

Hello Everyone! I just bought my first two duplexes in Chattanooga and I'm addicted to the cash flow right now. Unfortunately I made the mistake of tying up a lot of my money but I am in the process of saving up to be able to fund the next deal.

The next deal I want to do is going to be a BRRRR and I've been calling lenders who will do this. But I'm having trouble finding someone who will do it in Chattanooga and on the level that David Greene and Alex Felice talk about in Episode #301 of the BPP.

Are there any investors in the Chattanooga area that have a lender they can recommend??

If I'm being honest I've yet to close the deal yet, but so far with the help of my agent/mortgage broker I'm feeling very confident this deal will be successful in the long run. I'm anticipating closing before right before Christmas! An awesome present for myself haha. Out of state investing requires alot of trust on your part and I'm going on faith trusting the acquaintances that I met at a local Financial Independence group. This is also my first deal so I'm trying to get over my fear of investing by going big like this.

As far as rents this one I'm purchasing was 158,500$ total, with each side of the duplex renting out for 750. PITI comes to around 1075$ after a 25% down payment. And between putting away money for repairs/vacancy. I'm really only looking at 125$ cash flow per month if I'm being super cautious.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Hixson.

Purchase price: $158,500
Cash invested: $45,000

First deal in Chattanooga.

What made you interested in investing in this type of deal?

Acquaintances