Investor · Chattanooga, TN · Member since 2019 · 41 posts · 10 votes
Hey everyone! Recently sold my first "live in flip" and looking for a all cash deal to BRRRR. Recently got a job in Chatt and will be moving there in Aug so wanted to get the ball rolling on areas to research that are known for having success with BRRRR. Any advise would be much appreciated! Thanks in advance
Real Estate Consultant · Chattanooga, TN · Member since 2018 · 384 posts · 330 votes
5y
@Cody Gagnon my clients have picked up houses in that price range in East Lake, Avondale, East Chatt, and Tunnel Blvd. I think there are other areas where it's possible, too.
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
5y
@Cody Gagnon Bigger Pockets has some great state forums and usually there are good locals that monitor those. So post in the Tennessee forum and you should get some good responses. Also, try some local real estate meetup groups. Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you. But post locally for this. That’s the best bet.
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
5y
@Cody Gagnon oh, and the actual CITY forums aren't that active...you can certainly post there but make sure you post in the STATE forum as well. Those are a lot more active.
Real Estate Consultant · Chattanooga, TN · Member since 2018 · 384 posts · 330 votes
5y
Hi @Cody Gagnon! Congrats on your upcoming move to Chattanooga! It's an awesome place to live and to invest in real estate, so it's a win-win!
The cool thing about Chattanooga is just how much REI opportunity there is. I think you could BRRR in just about any neighborhood, it's more deal specific than location specific, but there are some neighborhoods with more deals than others. I have several clients BRRRing in East Lake right now, 1 doing it in Red Bank, and another 1 in Signal Mountain.
Investor · Chattanooga, TN · Member since 2019 · 41 posts · 10 votes
5y
@Adrienne Green thanks for the welcome and the response!!
We flew out there for a week and yes it does seem like a great place and everyone who lives there kept telling us we would love it. You don’t always get that.
As an agent, are you seeing people still able to pick up SFR and Duplexes for around $80k-100k. I know it's deal specific, but I'm not there so I didn't know if you're not even seeing that and everything is $100k+
Looking for something around $70-$100k that needs rehab. Have cash. Let me know if you ever come across something! Thanks again
Real Estate Consultant · Chattanooga, TN · Member since 2018 · 384 posts · 330 votes
5y
@Cody Gagnon my clients have picked up houses in that price range in East Lake, Avondale, East Chatt, and Tunnel Blvd. I think there are other areas where it's possible, too.
Real Estate Agent · Boston, MA · Member since 2020 · 27 posts · 15 votes
5y
@Cody Gagnon hi Cody, to piggy back off of what @Adrienne Green was saying, also look at Rossville GA, Fort Oglethorpe GA and areas of Ringold. Also make sure to join the various REIA Facebook groups. Take some time to do a bit of networking. I'm an out of state investor in the Chat area and taking the time to network and see who the investor friendly contractors and lenders are has been invaluable!
Investor · Chattanooga, TN · Member since 2019 · 41 posts · 10 votes
5y
@David Menapace awesome thank you! Yes I was already referred to a realtor and a lender over there. However, still need to find a contractor and PM. I’ve been talking with my agent over there it wanted to get some invested inside scoop. Also posted this in the Chatt forum.