All Forum Posts by: Alex Tuller

Hey everyone,

I am, as most of you are, an investor in the Knoxville market. I have a duplex, but looking to expand my portfolio and connect with other real estate investors by finding a group. Does anyone already have a group set up that meets regularly?

Thanks!

@Collette Douglas great to know! I don’t do short term rentals, but doesn’t hurt to learn more. I’ll look further into that to confirm. Thanks!

@Wala Habiby yeah it very easily could be. I’ve never looked into them as an investment. Just an example of the cities proximity to a high tourist town (Pigeon Forge/Gatlinburg). There are plenty of other places that may be better.

@Thomas Dunleavy have you considered Knoxville,TN? It’s conveniently located near down town and only an hour from the Smoky Mountains. There is a student housing condo location called, The Woodlands of Knoxville, and there are always units for sale. You could do 9 month leases and use it as Airbnb for people to enjoy East Tennessee during the summer. I’m not bias at all….

@Charles Gorman

Hey man, I’ve got a couple of folks that I talk investing with and always looking to expand. I saw you were getting together with some folks on Tuesday. I’m gonna try to make it there.

@William Mitchell

There are a lot of opinions out there and you will get many different answers. Even many different financial planners will give you different responses. Only you can really determine if it makes sense for you.

I do not know how you’ve acquired the debt. An Emergency may have come up, poor spending habits ect. It could be a could idea to use your 401k if you’ve changed your spending to not allow this to happen again. If you haven’t, then here is you potential outcome. Use your 401k to pay it off, have no retirement built up and then go right back in debt. Now you have debt again and no 401k. If you have changed your spending habits then you can use your 401k but do know you’ll pay a tax of about 4K when you withdrawal and may owe the government money next tax season.