All Forum Posts by: Adrienne Green

@Le Jia just PM'd you the link!

Hi @Evelyn Castillo!  I know a few former Floridians here in TN, and they love it!  Specifically, they love the mountains after the flatness of Florida.  

I'm based in Chattanooga, which I chose when I moved to TN last year because it's a mid-size town with a low cost of living, plenty of activities, natural beauty and outdoor recreation, and great real estate investing opportunities!  Living here, I've noticed how many people move to Chattanooga because they want to, not because they have to for a job or other obligation.  People want to be here and love it here!  

I hope that helps you with your decision!

Hi @Ellie Ryan! If you're in the Chattanooga area, you will be within a 25 minute drive of downtown.  Unless there's an accident on the interstate, you can get nearly anywhere in 25 minutes or less.

Similarly, there are an abundance of great areas to walk throughout the city- hikes on Lookout Mountain and Signal Mountain, Stringers Ridge Park, and the River Walk, just to name a few.  

Chattanooga is a real estate market that is so good, people are investing here from all across the country (and world, really, I have out of country investors!).  Renting in this market would be a poor choice.  With 13% appreciation in 2020, and rent rates that vastly exceed a mortgage payment, if you can afford to buy, you should.  You will pay less every month than you would in rent, and you will have an appreciating asset.

I hope this helps!

Hi @Account Closed!  Your list of wants does seem to be a good fit for Chattanooga.  I'd say it checks everything off your list other than "not too hot"- it can get pretty hot and humid in summer! Luckily there is the river to cool off in!

This area has a respectable amount of both duplexes and SFHs with rentable sections to choose from, too.

Chattanooga stands out as the only place I've lived where it seems most people have moved there because they WANT to, not because they must for a job.  People come here because they love it, and they continue to love living here.  

@Renee Yarbrough I'd love to talk, of course!

Hi @Bridget Campbell! There are some pretty cool houses on the lake in the area. I have a friend who bought one in the Sale Creek area that was an established STR, and he loves owning it! He expects it to be pretty profitable- grossing about 17% of purchase price last year.

As @Jonathan Rogers said, a few more details may allow the 'hive mind' of BP offer more wisdom and advice.  If your purpose is instead to find a Realtor to help you with the purchase, I'd be happy to have a discussion with you.

Hi @Sam Barnsley! I'm happy to speak with you about Chattanooga. There are definitely the value add opportunities to BRRR in this market, as we have a good number of older houses.

In terms of STR, @Ian P. is a PM who manages STRs and can give some great input there.

For your plans of using the house part-time yourself, you could also do a mid-term rental instead of a STR. There's a lot of demand for mid-term rentals in the Chattanooga area from people in the area short-term for work, and for people moving to/from the area while they're buying/selling their house.

Hi @Abhinav Agarwal!  I work with some Nashville investors who buy in the Chattanooga market.  Is that an area you've investigated yet?  It has an approachable price point and good returns.  The market had 13% appreciation in 2020!

Thanks for the shoutout, @Renee Yarbrough!

OP, @Ian P. runs PMI Scenic City and does STRs in Chattanooga, he'd be a great resource to speak with!

Hi @Courtney Anderson!  Are you looking for a vacation spot because you want to buy a short term rental, because you want the opportunity to write off vacations because you're checking on your investment, or do you have another reason?  Knowing your reason can help me (and the BP community!) best guide you.

I service the Chattanooga, TN market, which has a strong tourism industry and many STRs that do quite well (plus it's a fun place to visit!). Two STR management companies you can check out to learn more about that market here is Chattanooga Vacation Rentals and PMI Scenic City. I'd be happy to speak with you about the aspects of buying an STR, as well.

Of course the Pigeon Forge area is well liked by investors for STRs.  It may be a good fit for your needs, too.