Chattanooga Electrician Headed to Invest
Hello everyone. My name is Drake Payne. I’m from Monteagle, TN. It’s near Chattanooga. I’ve been wanting to get into the long term rental game now for years now. I own a small electrical business in Middle Tennessee. I specialize in residential and commercial. I’ve decided I am tired of being paralyzed by analysis and have started getting my ducks in a row to be able to pull the trigger on a property. Hopefully within the next year I’ll be ready to get started.
Hi Drake! Nice...getting started and jumping in can be the hardest step! My wife and I are investors here in Chattanooga, and she is a realtor here too with EXP. Let us know if we can help you out in any way with the market here and/or looking for that first property. Chattanooga has a lot of different areas that can suit a potential buyer based on price and neighborhood preference. Remember, your first one doesn't have to be a home run...a hard single or a nice double works (sorry for the baseball reference!).
Thank you, sir! I will definitely let you know when I get to that point. Let me know if you need anything electrically in the area as well.
@Drake Payne I love this! Chattanooga is a gold mine for investing! Your skills will certainly help if you go the fixer upper route, too.
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Hey Drake,
I don't know what kind of financial situation you're in, but if there's a possibility to pay cash or get hard money, get on every wholesalers list in the area and look for them to list something with a fuse box! :) I'd also suggest looking over listed properties and look for the same thing. It's going to give you a huge advantage to not have to pay for labor on a property that needs a full rewire. :)
I'll echo what @Troy Miller said - the first one is the hardest. :)
Thanks so much for the input guys.
Hey Drake,
I've got clients in the same boat as you and we work with a multitude of lenders that can give you options. I'm an agent that solely works with investors and I've been getting a lot of good LTR opportunities coming across my desk. I'd love to connect, also I have a client that is worried about an electrical inspection he's facing with one of his investment properties so maybe you can help me with that too.
Quote from @Daniel Ciraco:
Hey Drake,
I've got clients in the same boat as you and we work with a multitude of lenders that can give you options. I'm an agent that solely works with investors and I've been getting a lot of good LTR opportunities coming across my desk. I'd love to connect, also I have a client that is worried about an electrical inspection he's facing with one of his investment properties so maybe you can help me with that too.
That would be great! Thanks so much. I’ll message you my information.
Welcome to the party, Drake! It's always a good day knowing you're growing your investment portfolio day by day in the long term space. We assist many investors on this journey and are happy to provide a free tool for you to accomplish your goals. Check out our website here:
Wealth Optimizer | Real Property Management Ascension (rpmascension.com)
Best of luck to you going forward!
Yes, This is a good place to get beyond the analysis paralysis. I second what Troy( and him and his wife are really nice people)is saying.
Look at as the school of house investing .You're always learning and along the way you'll end up owning investment properties. And the fact that you are in the trades and know how that world works , is such a leg up! I'm working on my next rehab now, we should meet up, when I'm back there
Quote from @Lynne Castillo:
Hey Drake!
Yes, This is a good place to get beyond the analysis paralysis. I second what Troy( and him and his wife are really nice people)is saying.
Look at as the school of house investing .You're always learning and along the way you'll end up owning investment properties. And the fact that you are in the trades and know how that world works , is such a leg up! I'm working on my next rehab now, we should meet up, when I'm back there
I would love to! DM me next time you’re available and we can get something together.