aspiring rental income property owner
Hello everyone,
I have been reading and listening to podcasts and books about rental income properties and am still working up enough confidence to strike out.
I currently own a property that appraises for about 300k over the remaining mortgage. I flipped my last house starting with a $15k down payment and made 6 figures on it when it sold and was able to pay off my school loan and fund the down payment for my current house.
So I feel like I have a decent foundation for the real estate part, but no experience with the landlord side of things.
Currently, I am looking in other parts of TN and AL - mainly Knoxville, Chattanooga, and Huntsville for multi family properties that I could potentially fix up (not looking for big jobs) and rent out. With the equity in my house I am looking to get a HELOC for down payment and to fund the rehab.
I look forward to hearing from others.
Thanks,
Jason Braddock
Most Popular Reply
Hey Jason, Congrats on that awesome flip you did! It sounds like you have really gotten yourself set up to do some great stuff with real estate. If you are interested in a connection with a great investment agent in the Chattanooga market let me know and I can connect you. Their team handles almost exclusively long distance investor clients so they have a great understanding of what it takes to invest and a lot of connections for contractors and whoever you would need in that process.