Two Rental Properties in Chattanooga, TN
Hey guys and gals,
I just locked up two properties in Chattanooga, Tn in a Bish neighborhood. They have to go together for 80k. One is section 8 and rents for 650 a month (utilities included). the other is not section 8 and rents for 625 a month. The section 8 tenant has been there for 2-3 years (by the sellers account). The other property the person is on a month to month and says he wants to leave, just not soon.
There is a trick: It has to close before Dec 23.
This is someone with a foreclosure who is going through a divorce. The foreclosure itself was not a great deal, but she had another property that she could throw in that made it work (better). I was upfront with the homeowner that it will be difficult for the sell to go through, but that I was going to try. We will need cash at the closing table. I am calling the bank today to try to make sure that they are good with the deal.
Give me a call or email if you would like more info.
706-218-6958
thanks,
-Luke