Advice for starting out with renting properties

[Colin Courtney]

I've lived in the Knoxville area for about a year and I'm trying to find a good way to break into the local real estate market. I've been doing research on renting properties, etc., but I'm not sure where to start - work with a CPA, or an agent, start an LLC, etc. Any advice or things to watch out for would be much appreciated :)

[Dan Beaulieu]

@Colin Courtney The Knoxville Reia is an AWESOME way to network and learn. Networking is everything in this business. Sometimes good deals will get passed around off market. Make sure to tell every single person you meet what you are looking for, and somebody might have a property that fits your criteria or at least know some solid wholesalers that they could connect you with. 

Strongly encourage you to read Brandon Turner's book on rental property investing before getting started. This will help you learn how to establish criteria and crunch numbers, and get familiar with some solid strategies. In particular, the BRRR method is a great way to acquire rental properties in the Knoxville market right now.

Good Luck!