Investor / Wholesaler · Nashville, TN · Member since 2014 · 1k+ posts · 667 votes
If there are any experienced investors from Chattanooga or out of state investors who focus on this area I would like to hear more about the city and what you think. Feel free to comment, PM or email me and I'd love to connect with you if you are willing to share some insight on the area.
Hi. I live in Pasadena area of CA and have been investing in Chattanooga since 2009.
I know a lot about the market.
What do you want to know?
What type of properties are you interested in?
Do you have questions about the different areas?
Tim
I'm interested in the Chattanooga market as well and have been researching it from afar. There's an infrequent MeetUp that I've read about here on BP and several agents and investors that call Chattanooga their home or home market.
I'm planning on visiting the city early next month to get a better feel for it and its neighborhoods. I'm interested in the city because of it's size, location, market, strong business foundation, and economic growth.
Hi. I live in Pasadena area of CA and have been investing in Chattanooga since 2009.
I know a lot about the market.
What do you want to know?
What type of properties are you interested in?
Do you have questions about the different areas?
Tim
After several moves from the North East to the South West, I'm finally proud to call Chattanooga home. Investing has always been a goal of mine but the growth/revitalization of several areas has accelerated these dreams into action. I look to begin investing in the spring/summer time-frame.
Tim & Art, I'm curious, what are some investment considerations that you've found necessary in this market that sets it apart from others, generally speaking? Aside from specific areas (although I'm interested in that as well), have you forecasted (Art) or experienced (Tim) specific types of homes to be better than others where normally not the case?
And also, without hijacking the thread too much, William ;) , I've considered my first of several investments to be in a duplex, although SFHs take a close second. I've found what I believe to be a handful of 'good deals' overtime but am always cautious due to the area that they're in and the concern for the types of tenants that they'd attract.
I've lived in Chattanooga for almost 3 years and have 4 duplexes,one of which I live in one unit and am house hacking. I have found that The East Lake, closer to downtown areas are too dangerous for me to invest in. My rule is if I don't feel safe going there by myself, I'm not going to invest there. The great thing about this area is that the population is growing...even the surrounding cities of East Ridge and Cleveland have grown slightly. It's a great place to invest because properties are very affordable and rent is on the higher end. Example: I have a duplex I paid $60,000 for and it's renting for $625 and $650. Really great returns! I wish you luck! I can share some ways I've financed properties if you're interested. Message me if you are. ☺
@Maggie Mendoza, thanks for the area to avoid. I agree with you, in our current market we don't deal with leads from areas we wouldn't be comfortable going. I don't have any problems with financing, I am just trying to learn the market there, good areas and areas to avoid. Any areas (zips preferably) that make for good investments would help. Thank you all for your input.
@William Allen You were on the BP podcast? Man, that's awesome! Okay back to Chatt ;)
I couldn't name the zip codes, but look into the East Brainerd area and even in Cleveland next to Lee University. Cleveland has two colleges; Cleveland State Comm Coll and Lee and they provide solid rentals.
Chattanooga has a local REIA and meets on the first Thursday of every month. They have a networking time, a haves and wants time, and then the presenter talks. http://www.chattanoogareia.com/
@Maggie Mendoza, it was a while ago... Thank you for the information on the area and the REIA meeting. I will make a point to get out there for it in Feb.