All Forum Posts by: Adrienne Green

@Brittany Haston Congrats on your first deal!  A team of support people is so important- have you asked your Realtor for their preferred contacts?  Sometimes clients forget that's a resource there for them!

@Kaylee Walterbach good question! The MLS data that gives the median sales price doesn't expressly state the median house stats. I would say a 3/2, older construction (like pre-2000) at $325k is a pretty reasonable thing to accomplish here.

Sending you a PM!

Enjoy your trip!  Chattanooga is a fabulous place!

Hi @Raymond Warthen! Congrats on your upcoming move to Chattanooga- it's an amazing place to live, and to build a real estate portfolio! There's a lot of BRRR opportunity, and as @Nicholas Coulter stated, house hacking is also great here.  Well, to be honest there's all kinds of real estate opportunity in Chattanooga, so whichever path you end up going down, there's a great chance of success!  

There are some local REI meetups that happen monthly, once you're here. @Kelly Rastatter leads one!

Hi @Daniel Walker! The Chattanooga market is a great one to get in to! First, I'd note that BRRRing and flipping are two different animals in terms of investment strategy, so be cautious lumping them together. If you are looking to gain capital, then flipping is the way to go. If you are looking to build your portfolio with minimal capital outlay, then you'd BRRR.

In response to your questions, (1) all of the Chattanooga market is a green light for flips and BRRRs.  I generally try to stay within a half hour drive time of downtown, just to ensure demand.  (2) Median sales price is around $325k, so if you're at or under that, then you're in the cheaper part of the market, and demand for selling a flip should be good.  

Hi @David Groninger!  I love how you have clear criteria.  As an experienced investor and agent in the Chattanooga market, I'd say it's a good fit for what you describe.  The university UTC is a major force in town, as are the various hospitals in town.

I'm not too familiar with Greensboro, I do know Augusta bit.  In terms of comparing Chattanooga and Augusta, both are riverfront, and are around the same size.  A few differences are the tourism industry and the geography.  Tourism is a big factor in Chattanooga nearly year round, between the aquarium, concerts, sporting events, races/triathalons, conventions, etc.  According to a report by the TN Dept. of Tourist Development, there are 43,000 daily visitors to Chattanooga.  Related to that, in my opinion the riverfront downtown district of Chattanooga is more robust, with more offerings.  Also related, in Chattanooga there is usually something to do!

The other major difference is geography.  While both are riverfront, Chattanooga is in the hills, while Augusta's geography is pretty flat.  Interestingly both have very similar monthly highs/lows, yet in Chattanooga it's easy to escape the summer heat a bit by going up the nearby mountains, where it's a bit cooler.

I love living in Chattanooga, and having visited Augusta, it's not for me.  The one thing about Augusta that I'd love to have is that it's closer to the ocean!  

If you have any further questions about Chattanooga, I'd be happy to help the best I can.

@Wayne Woodson Most people I know do go out to the STR themselves and set it up. That being said, it's definitely possible to do it remotely using a STR designer. I know someone who does that in Chattanooga, I'll PM you!

There are plenty of remote design services if you want to go that route!  One I know of is https://www.sarahdweaver.com/, she does a good job and is very knowledgeable on STRs.

You rock, Grant!  Your willingness to house and rent out the extra rooms really set you up for future success!