All Forum Posts by: Warren Bryant

Zillow, furnished finder, and Airbnb.

My property is in the city limits with no HOA. I ended up renting the house as a single unit/fully furnished/utilities included. Could definitely make more as separate units but i'm still cash flowing so well that i just didn't care at this time. Within weeks of listing we had commitments for the next 15 months.

Thanks for the response Lisa. I'm glad your having such a good experience with that basement unit. Renting to travel nurses is exactly what I want to do. I've been a travel nurse off and on for 4 years now and I have used nurse finder several times.

I live in Knoxville so I'm not sure how the regulations compare to Loudon. I'm currently try to figure out what the regulations would be for me to rent out each unit separately. I know a lot of people would just do it and not worry about it, but I have some neighbors who don't always mind their own business. So, I want to be above board and safe if someone were to protest. Happy real estating!

Wrote the title before I really knew what the post was gonna be about. When I try to edit, the I'm not given an option to change the title. I also didn't see where I can delete the post. So, until I figure out how to do those things.....apologies :)

I currently have a ranch house with basement that is 2bd/1ba on the main floor and a 2bd/2ba in the basement. Both floors have a laundry and a kitchen. They are separated by a staircase with a locked door. Both have multiple points of egress. Utilities are not separated, but there is individual HVAC on each floor. There is ample parking on and off street parking. There is also an unattached garage that I don't plan on giving tenants access to because I use it for storage. 

What problems would I run into if I were to try to rent these units out separately as either long term or medium term rentals. I'm especially interested in what I would need to do as far as zoning, regulations, code, etc. I'm not interested in STR because of the added layer of regulations.

The easiest thing to do would be to rent it as a single long term unit but I would be lowering my cashflow. We also are considering renting it as a single medium term unit (3-6 months) but I'm not clear on how the regulations differ from STR or long term.

Were gonna cashflow no matter what we do, but we wanna maximize it. 

Any advice would be appreciated.

Thanks for all the replies. I have actually started working with an agent named Tausha Price. She has been an absolute gem; a true wellspring of information for a new investor like myself. We actually are under contract on a house currently and hopefully will close soon. This whole experience has been incredibly informative. I've pretty much showed my ignorance at every turn, but I'm so glad I've pushed through. 

My wife and I just got some tenants lined up for our current house, so I feel like I my REI journey has just officially begun. Hope to work with you all in the future as my network and portfolio expands :)

@Lucy Hood my realtor told me that I would have to go to the MPC with a plan and see what pushback (if any) there was.

@Victor Jernigan The property has a single address, but the garage has a seperate meter and it appears that plumbing had been run to it in the past. The garage is kind of an interesting structure. It's built on a hill so the "first" floor is the actual garage. It's about 900 sq feet. You can then go downstairs via a staircase to a basement. This basement is also accessible to the outside and has it's own deck. The basement is also around 900 square feet and is being used as a game room. There is plumbing down there so I think there was previously a sink or bathroom.

If I did wanna turn this into an apartment most of the construction would be inside the existing structure. Exceptions would include running any plumbing/utilities, creating basement egress windows, and building an outside staircase. I probably would have to extend the driveway as well.

My ultimate plan would to build one apt on each floor and seperately meter them. I'm worried about how hard it would be to convince the MPC of their plan. I would love to find someone else who has successfully done this. I'm also wondering if it would be easier to do since the structure is already there and has some existing utilities.

I am under contract for a home in North Knoxville that is currently set up as a duplex (2b/1ba upstairs; 2bd/2ba downstairs). Given that I am zoned for RN-1, am I legally allowed to use this house as a duplex? Furthermore, there is a large 2 story garage on the property. Would I be allowed to convert that into units if I so chose. I have been looking at zoning regulations but I am having a hard time figuring out if I am allowed to convert existing structures into discrete units. The house has so much more upside if I could have a total of 4 units. Does anyone have any insight into this situation?

Thank you @Miller McSwain! This is very useful. I will be reaching out to them.