All Forum Posts by: Wala Habiby

I like the idea of sending introduction letters to the new tenant and would love to see a copy if you don't mind but I do agree with her, I wouldn't want the buyers to do that till after closing. You never know what happens and I don't want to confuse or worry my tenants. She probably didn't ask but its our job as Realtors to protect our client. If I was her, I would 100% ask him but at the same time, I would advise him on what I think is the best way to handle it. 
Unless your closing the day the rent is due, then you should have plenty of time to speak to the tenant prior to the next due payment. 

@Patrick Flanagan happy to talk to you about the local Knoxville market if you would like to connect.

@Lucas Gibson sounds good man. Just private messages sometime and will get it organized.

@Lucas Gibson I agree with the comments above. Working for a large management company would be your best case scenario to learn the correct way to do it. As I mentioned, I have a small operation with my property but I am happy to sit down with you one day and show you what I do and answer any questions you may have.  

@Lucas Gibson I manage my own property. So what exactly are you trying to learn? Just how to property manage your own or work as a property manager ?

@Lucas Gibson hey man, happy to help. Just let me know what questions you may have and I'll be happy to try and answer them

Investment Info:

Single-family residence fix & flip investment in Pigeon Forge.

Purchase price: $85,000
Cash invested: $15,000
Sale price: $140,000

Bought a cabin that has been abandoned for over 10 years and needed everything. After putting bunch of money in it and fixing the major issues, I just sold it as it was hard to manage from afar! Great returns to me but it will also make a great Airbnb for the buyer.

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

Wanting to invest in short term rentals.

How did you find this deal and how did you negotiate it?

From a wholesaler

How did you finance this deal?

All cash

How did you add value to the deal?

Fixed all the major issues with the property

What was the outcome?

Sold it, 40% profit.

Lessons learned? Challenges?

Its hard to work on project that are physically far from my location.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Wala Habiby with The Wala Group !

@Justin Bergman for me 95% of the properties I invest in or my clients invest in are on the MLS. Wholesalers are usually trash properties and want way too much in my experience

Investment Info:

Single-family residence buy & hold investment in Pigeon Forge.

Purchase price: $85,000
Cash invested: $65,000

Bought a cabin that has been abandoned for over 10 years and needed everything. After putting a lot of money in it, I am working on getting it finished then furnished and put it as a short term rental.

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

The market, and the desire to have some investments with less daily personal management

How did you find this deal and how did you negotiate it?

Wholesaler

How did you add value to the deal?

The whole cabin was renovated, inside and out.

What was the outcome?

Great cabin that is going to do great for the next 20 years.

Lessons learned? Challenges?

Its hard to find a lot of different contractors to work up in the cabins, and everything was a lot more expensive than normal.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, The Wala Group is always there for investors.
Wala Habiby 865.385.2809

@Melody Evans sending you a msg