All Forum Posts by: Addison Ricci

Hey John,

I'm finishing up my first property in Knoxville and intend to AirBNB.  It's a great option, but just be sure to look into the local regulations if you decide to go that way, Knoxville is fairly strict.

http://knoxvilletn.gov/government/city_departments_offices/Finance/business_license_tax_office/short_term_rentals

Good luck!

Hey Chris,

I'm actually almost done rehabbing my first property in Knoxville for AirBNB.  Should be listing later next month if all goes well.  Since I'm not local, I used my mom as the owner-occupant for the property to get my short term rental permit.  From what I hear, the city is definitely monitoring and shutting down STRs without permits, so make sure you do everything the right way.

Also keep in mind that one of the primary draws for Knoxville is the university, so if you get too far from UT it may impact your bookings.

If you need any recommendations for agents, contractors, banks or anything else feel free to hit me up.  I have lots of contacts there.

We have two properties under construction in Knoxville, Tennessee. We'd like to AirBNB them out once they are fully developed, but we aren't sure how to go about it. Ideally, I'd like to use a management company to operate and maintain the AirBNBs fully, but I'm worried that that will significantly cut into our margins. There are so many services and companies out there to chose from.... any suggestions?

Questions:

1) Should we manage the AirBNBs ourselves and just hire a cleaner who is in the area, or should we hire a property management company to take care of it all?

2) Do you have recommendations for any cheap cleaning services, or property management services in Knoxville, TN?

Thanks!!

HEADS UP!!!! I had to change the location for this event.  The coffee shop that I originally scheduled has closed permanently so I've moved it to Aroma Joes.  This should be an awesome networking event for everyone that attends!

@Victor Jernigan - The House is located in Fountain City and anticipated budget is 30k-40k. At this point i'm just looking for recommendations of various contractors to make connections and ask questions. Thanks for the tip on the REIA meetings. Im not local, but i'll definitely look into that when I come up to check on the properties.

Looking for contractor and subcontractor suggestions in the Knoxville area.  I have a big rehab project that will basically need a little bit of everything.  The project is 2 small single family homes, full gut, painting and floors, windows and doors, drywall, kitchen and bathroom, etc.  Also possibly some structural work.  Need to start ASAP!

Any recommendations are greatly appreciated!

Which CRM applications do you use to manage your business? I am looking for something that I can use to track contacts, run reports, store leads, automate emails, etc. As a Pro-Member, are there any CRM applications that we can use at a discount? I checked, but didn't see anything that really fit.

So I have my first investment property under contract and I was supposed to close this Friday.  My lender informed me yesterday that they couldn't close on this property because there are 2 separate houses on 1 plot of land.  They each have their own meters (which I need for rentals) but they are deeded together on 1 parcel.  The lender said Fannie Mae/Freddie Mac won't deal with these kinds of properties so they can't close.  Does anyone know if this is actually a thing?  If the houses were connected and it was a duplex I don't think this would be a problem.

I'm working on finding a portfolio lender, but that means that i'll have to put more money down and probably have a higher interest rate.  It's not the worst option in the world, but I wanted to make sure the lender actually knows what they're talking about.

Thanks!

Hey Chase!  If you can, you should attend the so-flo investors coffee meet up on August 3rd.  You can check it out here: https://www.biggerpockets.com/forums/521/topics/719681-so-flo-investors-coffee-meet-up

I'm a new real estate investor and I'm hosting this event to network and learn from cool likeminded people in the area as well.

@Dale Graham, sorry man, the only time i'm available to host this meet up is in the morning