Getting Started with STVR in Chattanooga TN

[Nick Johnson]

This is for Chattanooga TN, and I will try to keep this short. I house hacked a duplex in 2015 and I have been saving since then. I have been doing a ton of research, reading, and number crunching but the options seem endless. My strategy is to buy and hold to build a passive income and I am currently looking to start my first short term vacation rental (like Airbnb). I have enough saved to swing the 20% down, furnishing, light repairs, and closing cost on properties up to 150K. I assume the thing to do is to shop the internet for an investment mortgage? I also need to find that “good deal” as I am sure most people do. One way would be to subscribe to wholesale deals, assuming they would work with a non-cash buyer? The other way would be to use a real estate agent, and I have yet to select one so please feel free to recommend one. They may not be needed on a wholesale deal but I also have only a little experience in buying houses, so it may be warranted. My experience is limited to conventional options so maybe I need to think outside the box to maximize my capitol investment. Also it seems the lowest risk would be to just house hack another property. 

If you have read this far, I really want to thank you for your time. The possibilities seem endless and I would rather not make a financial gaffe that destroys my chances at real estate. Any advice would be greatly appreciated.

[Wes Harrington]

@Nick Johnson,  I like the idea of the master lease. We currently have 2 properties that we have (are still in the midst of ) that we purchased that way.  Like @Brian Levredge and @Jeffrey Holst said, Its a great way to get in and test drive the situation and see if it works for you. We were able to negotiate with a guy and get in with a $100 option fee and no interest for 2 years! So the stuff is definitely out there, just a bit harder to come by. Hope that helps. Offer stands for lunch/coffee as well!  Cheers