All Forum Posts by: Brandi Pearl Thompson

@Steven Peterson Winters Roofing Martin winters Has done several for me message me and I can give his number

What is the budget they are working with? It will frame the answer? Are schools a concern or no? 

I agree with all those things. I moved here 15 years because of all those things. Never been to TN or Chatt came for a weekend and moved. That being said I was thinking what’s are you looking to accomplish? Grow doors? Cash flow? Appreciation? Are these 1/1 in line with your long term goal that’s all I was asking about. 

Feel to reach out with any additional questions after today. 

You may want to double check with the state of TN. I believe legislation was just passed that states the only to areas allowed to "ban" them are Chattanooga and Brentwood because they had rules prior to it becoming a state issue. 

1. Do they unit have central heat and air. (I don't believe they do.) Why does that matter? Just a cap on rent, also affects a tenants utility cost and could produce higher turnover. The area has high turn over for 1/1. Pretty sure one is in much better condition than the other one. I think 1350 is a little high unless you are going to up your rehab budget

2. Has the power been on in a different name. In Chattanooga city limits, if a duplex or most multi-family has had power off for over 100 days it converts to r-1 and you now have a 2/2  building. 

3. Rehab cost seem low. based on my experience should be closer to 20k if your including exterior and interior and your wanting quality tenants. You are also managing from afar which usually means it cost a little more (Keeping it real). 

4.  Can you offer to have owner finance (pay you initial cash downpayment to allow him to pay for living expenses) till you rehab and then do a refi and get your initial invest out and put it on a 15 year fixed at 5.75%. (You need to call a local bank. I suggest Ryan Henn at TVFCU. Great guy knows his stuff and 1-4 are considered single family and you can get a 15 or 20 year fixed rate with no escrow required and you can refi if you show improvements)

5. This seller has others to sell. Have you asked this question? You could potentially structure a better deal getting some of the other properties.

6. Putting the properties all on one mortgage would be my initial reaction because it would save on loan fees. Depends on your goals long term whether I would. What is your long term thoughts for the Chattanooga Market?  

Hope this helps

I've sold 6 in ridgeside since Jan. Is it in Shepherd Hills?

Sent you a message

Yes, they do  exist. I have some more questions and would like to dig a little more. I think I can help you. What zip codes were the ones you lost in? You can check out my zillow profile for more info about me. 

Hi Ryan,

I work in the Greater Chatt area and work with investors. Before I say I would be a good fit. What kind of investing are you looking to do? 

Brandi