Getting Started in the Knoxville Area

8 Replies

Hello everyone on the BiggerPockets forum! I've had an interest in real estate investing for the last year or so now. After finally moving to Knoxville, Tennessee and beginning to dig some roots, I'm looking to start taking my real estate investing journey to the next level. I have been reading as much as I can, trying to learn as much as possible. This is where you guys come in! I'm looking to network, get advice from people that have been there, done that, and eventually pull the trigger on my first property! I have it narrowed down, but I'm still trying to define my niche and begin the process of mastering it. I'm looking forward to getting in touch with the valuable members of this community and build a relationship with all of you! Thanks!

Originally posted by @Martin Vehlow :

Welcome to BP, Justin, you're in the right place!! Have you considered house hacking your first property?

 Thanks! I did consider that option initially, until I was blessed with the opportunity to live in a property that my parents own for nothing more than  the cost of taxes, utilities, and insurance. So my living expenses are minimal for the time being..therefore I’m trying to take full advantage of that!

I've been debating between trying a BRRRR or fix & flip, or buy & hold (turn key or one that requires some rehab)..I just need to continue to weigh the options and educate myself for whichever option I determine to be best for me starting out. I work a full time job, putting in at least 48 hours a week so that has a large impact in my decision making process.

@Justin DeMontier if you're young and just getting started in real estate, plus working a full time job, house hacking with BRRRR or slow flips is the way to go. There are some tax benefits to living in the house for a while before flipping it so you get to take your time, which usually works out well for folks who work 40+ a week.

I see a few flip potentials at multiple price points every week, so look me up if you want.  

My best advice is don't take it too fast. Since you're just starting out, find something with good bones and only needs cosmetic repairs and not much on the skilled trades (electrical, plumbing, foundation repair, etc.) side. 

@Derek Tellier hosts a RE meet up that floats from Knoxville, Maryville, and Sevierville.  I have attended and some good networking and people who can share advice.

Also, for your chosen direction / markets, you can set up alerts and get notified when BP is discussing "Knoxville" for example.

I am in Middle TN but in the Knoxville area regularly with rentals and family there.  Happy to catch up and share info.

Ken

Originally posted by @Ken Dillard :

@Derek Tellier hosts a RE meet up that floats from Knoxville, Maryville, and Sevierville.  I have attended and some good networking and people who can share advice.

Also, for your chosen direction / markets, you can set up alerts and get notified when BP is discussing "Knoxville" for example.

I am in Middle TN but in the Knoxville area regularly with rentals and family there.  Happy to catch up and share info.

Ken

 Ken, thanks for the info! I’m patiently awaiting the next meetup and learning/networking as much as I can in the meantime. Next time you’re in the area, let me know, as I’d love to chat!

Hey @Justin DeMontier Welcome to BP and Knoxville. 
Thanks for the mention @Ken Dillard

Sorry I'm a little slow to respond, been busy lately as I closed on my new primary residence last Monday so been moving addition to trying to get my first BRRRR property to the Rent stage and begging to do some light rehab on the house I just moved from to turn it into a rental.

My next Meetup will be on Halloween at The Chop House in Kodak right next door to Bass Pro Shop. 
I officially start it at 6:30 but it's purely networking so timing is relative. 

I can also recommend KnoxREIA @Victor Jernigan runs it. It's not free but the information and people you'll meet are worth the investment in my opinion. That meeting is the 2nd Tuesday of each month at The Holiday Inn on Cedar Bluff (It was this week so you just missed it) 
There is a also another meetup on the 3rd Tuesday (next week the 15th in this case) at MiMi's cafe in Turkey Creek that I usually attend. It's also good and cheap, 1st meeting free then they ask for $25/year if you want to come back. 

Hope to see you out at any of those and feel free to reach out any time.