Out of State investing

[Tammy Wheatley]

Hello All!

First off, in my home state (Illinois) I have a duplex where I house hack the other side. This is my first investment property that I purchased Feb 2022.

I would like to retire to Tennessee in about 10 years. My son and family are there also. They are near Chattanooga. That area is growing and seems like there is opportunity for growth. My first thought for a property in that area is a vacation rental. That way myself and other family can use it when we come visit.

My question: I am going to visit this week and next. I have a meeting with 2 different realtors to start getting a feel for the area. Who else could I/should I meet with while I am in town? I am looking between Chattanooga, Soddy-Daisy and Dunlap. Anyone know anyone?? :)

[Nathan Gesner]

Quote from @Tammy Wheatley:

The sales market just peaked last year and hasn't finished cooling off yet. On top of that, the number of vacation rentals grew astronomically the last few years and many are losing money. I recommend you wait another 1-2 years to see how things shake out before making the jump.

Your visit will be a good time to ask questions and see how others are feeling about it.