All Forum Posts by: Brian Levredge

In Hamilton County there is a mill rate of .25 on residential properties (1 unit only) and .40 on virtually everything else on property taxes.  So duplexes and up pay roughly 40% in property taxes than single family.  There is a homestead exemption for owner occupied (1-4 unit).  

@Justin Boggs. That's East Lake.  Someone else already chimed in here that it looks like a C or D area.  That is accurate.  Demographics down there are changing somewhat but it's going to be a long time before East Lake gentrifies.  You can do decent down there, but with prices having gone up as much as they have it increases your risk somewhat.  We manage down there and for the most part, don't have too many issues.  

@Jessica Lombardo, I am in that group.  I also flip, build specs, and a bunch of other stuff.  Also been in construction for over 25 years. 

I started my own PM company in Chattanooga.  In general your analysis is off.  To start with leasing commissions typically run 50% of one months rent. Then you have fees on top of that, some of which are hidden, depending on the company.  Point is it's actually more than you think when you add it all up.

That said 5% flat would be a very tough sell for only 20 units.  Happy to give you additional insights if interested.

Happy to connect. 

Nashville is not too dissimilar from CA markets.  It's expensive (relative to here) and there isn't much cash flow, if any.  Chattanooga and Knoxville offer better cash flow combined with appreciation.  I can put you in touch with agents in Chattanooga but not much help in the other cities. 

@Preston Humbard - lots of good investment areas around town that I've had success in.  Hixson, Red Bank, East Ridge, E Brainerd, Ooltewah.  Even N GA has good areas in Ringold, Ft Oglethorpe, and parts of Rossville.  E Chatt, Alton Park, East Lake are higher crime areas but will have lower cost of entry.  

@Thomas Meyer - Signal is a great area to live in.  Investment wise not so much.  Great schools up there and it's one of the safest places in the US according to the FBI (or was quite recently) but finding good investment opportunities is another story so be prepared for thin returns.  Signal covers two different counties so you want to make sure you're in Hamilton County.  Check the school zoning on anything you're looking at. 

I know nothing about Dubuque, but Chattanooga has a lot going for it.  TN has no state income tax.  You are two hours from Nashville, Atlanta, Huntsville, and Knoxville so plenty of larger markets within a reasonable drive.  Chattanooga has four distinct seasons, a vibrant downtown, a healthy job market, and a ton of outdoor activities.  

There's a BiggerPockets (unofficial) meetup group that was getting together the fourth Thursday each month, pre-COVID.  I think they are wanting to get that going again, but not 100% on that.  @Kelly Rastatter can provide more info since she runs it.  There are plenty of resources here in Chatt that are both virtual and in person.  Maybe the easiest way to find them is to go to FB and search "Chattanooga real estate investing"  That will pull up a number of groups that are getting together at different times.  I'm also happy to meet and discuss with anyone making the jump as I moved here from Los Angeles eight years ago (started investing here in 2009) and it was one of the best decisions I've ever made. 

Is this for buy and hold or spec?