What do you think of Campbell County/La Follette for Investing?
Does anyone have an opinion about La Follette's market?
I have a motivated seller and she and her husband inherited a 3/1 SFR, 1443sqft on a .5 acre lot off of S 25W Hwy right off of I75 about an hour north of downtown Knoxville.
If the addition meets code, it's actually a 4/1.
The tax records says it's got a TMV of $43,500 and a realtor I know gave it an ARV of $80-$100,000.
The absentee owners live out of state and have already had a horrible experience with nightmare tenants and they don't want to deal with it anymore. She gave the inside of the home a rating of 5 out of 10, and told my partner it needs wiring so I'm going to guess that it needs a gut job.
I haven't been up there yet because I am afraid to take it on as my first wholesale because of where it is. I don't know the market and my last trip up there showed me a small rural town with very little growth. However, considering her desire to get it under contract by next week makes me think I could probably get this house for dirt cheap.
Any rehabbers or landlords in Knoxville have an opinion on the subject? I don't want to leave this woman hanging but I was supposed to call her last night and here it is almost Thursday evening and I haven't contacted her. I don't want to say no if it's a good deal but I don't want to get her in a contract and then let her down, putting her right back in her original position.
Help!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!