I recd a bunch of marketing flyers from them last week

I wanted to help them out and minimize their loss and saw an opportunity to get a property slightly below market because of my commission savings, immediate mortgage and maintenance relief, in addition to keeping a lower short term interest rate How did you find this deal and how did you negotiate it?

The borrower gets the benefit of having access to capital fast and the lender gets the benefit of charging a higher interest rate and not having to pay taxes on the profit.

I realizing the duplex conversion strategy is more complex I probably wouldn't try it on my first property, just want to get a sense of what's possible in the Chattanooga market :) Thanks!

Make sure the tenants are paying market rent or above, otherwise your loan will be DSCR constrained.

We bought a 55-unit last year in the same market, a market we've been investing in for seven years.How we found itOur property manager brought us this opportunity (and the three previous as well).

If it’s a 2 bedroom on paper and a 5 bedroom in reality, then this is a significant problem and is probable a big reason why you say it’s been sitting on the market.

Hi,We recently (Aug 2024) bought commercial land of around 2 acres. this was part of bigger commercial lot (around 25 acres) which had AG exemption and so the taxes that they paid was around $20 each year. we received a 'AG ROLLBACK' letter from the appraisal district that starting 2025 tax year, we will be taxed at it market value resulting in additional taxes, interest and possible penalities for 3 prior years.

It’s true that many property management companies are now incorporating tenant benefit packages as part of their offerings.

Being a broker in Western Washington and an investor in Tacoma, I completely understand the challenge of getting started in this market.