All Forum Posts by: William Lokar

I am an investor/agent in Kingsport and Johnson City and can assist any investors interested in this area. 

I'm an investor and agent in the area.  I sent you a message to connect.

@Account Closed. I am an investor and agent in Lynchburg and am part of this same group with Chis.  The market in Lynchburg has slowed, particularly in these higher price-points.  Are you looking to cash out equity?  With rates where they are there is a bit more demand for these higher end rentals in the area now.   The biggest issue with cashing out equity right now is that short of a 1031 exchange, it is going to be expensive (capital gains, refi to a much higher rate, or give a portion to a wholesaler).  I'd be happy to chat with you more.

We are also seeing strong numbers in non vacation areas of Northeast TN (Kingsport, Johnson City, and Bristol).

@Elizabeth Pebody. Roanoke is a very nice area.  I lived there for a bit and now work out of the Lynchburg Area working primarily with investors.  Roanoke has its pros and cons.  I personally have invested more in the Lynchburg Area, as I see it growing much more.  Let me know if you'd like to connect to discuss the area further.

I'm an agent in the Tri-Cities and work with a lot of out of town investors.  There are a wide variety of options for managing remotely but the key is to find good handymen that can address issues.  I also know several property managers that can help.  I have managed properties remotely myself for several years and know the challenges.  I'd be happy to speak with you more about this.

@James Williams. I work out of the Tri-Cities in Northeast Tn and would be happy to connect and discuss your goals.

A seller signed our contract and the sellers agent bound the contract without signing the attached Investment property addendum certifying rents (that was written in the contract to be part of the contract).   They signed the addendum 5 days later after much back and forth on what rents actually were.   To me the contract was not valid until the addendum was signed.   What is the true legally binding date?  Any thoughts on this or has anyone dealt with a similar issue?

When I look at AirDNA data for both my areas 90+% of rentals are on AirBnB but only 40% on VRBO, whereas Pigeon Forge is 67% on AirBnB and 79% on VRBO.   To some extent I think how property managers list their properties in a particular area may be driving consumer behavior in those areas.  Make sure you are listed where your competition is!!