All Forum Posts by: Constance Grandelli

Google: Learn Airbnb.  

Hi Andrew Moore,

Thank you for your response.  Long term, I would like to sell off all of my properties in Va.  Since I have recently moved from Va to Tn, I need a principal residence, one where I can rent out half of it and live in the other half (or something along those lines).  Not so sure that I'm interested in flips in this area.  I think new construction might be a better way to go.  And, it's always nice to have a few rental properties under you belt as well!  :0)  LOL!  I hope I answered your question!

Have a great evening!

Connie

Thank you so much for your response Vlad, Natalie & Steve (I haven't figured out the @ thing for the names!)

I have one small rental in Va. that was bought with the LLC - that's it. I was in the process of transferring it over to me personally. That would mean there is nothing left in the LLC & I won't be doing any more investing in Va. I will start investing in TN, so maybe I should set up a TN LLC? It's all confusing, that's why I need a CPA that knows all about this stuff.

Hi,

I'm new to Kingsport, TN. My LLC is from Virginia, need some guidance as to close down that LLC and start a new one in Tennessee, or trade as a foreign entity. In general, would like to get a great CPA, that specializes in real estate investing. Local is not necessary, but would be nice.

Thank you in advance for your help!

:0)  Connie

When deciding what elements to spend money on for a flip, the best advice I received was:

"If you do this/don't do this, will it stop the house from selling?"  Will the quality of flooring be the determining factor in someone making an offer on the house?  

There are always "it would be nice to haves" that will cut into your profit margin.  Sometimes it's hard to step back and realize the house we are flipping is not for us.  I  am not recommending cheap materials and cheap workmanship - after all, when flipping, we are not just renovating a house, we are creating someone's home.

I agree with Aniekan Udoh, stay in line with the comps.  

Have fun and good luck with your endeavors!  :0)

@Chris Seveney

Hi Chris,

I'm about 40 minutes from Bristol.  Not too far.  I'm happy to help in any way I can. :0)

Hi Crystal,

Just now seeing your post. Goes to show I need to get on BP more frequently!  I believe you came to the meeting we had when Bill Hall was the speaker.  Hope you can continue to make it to the meetings.  I have been very happy with the connections I have made with several of the folks in the group.

:0) Connie G.

I bought (cash) a little one bedroom, one bath house that has been rented for over two years.  I tried to get a cash out refi on it, but the banks said they would not loan on a 1/1.  Lesson learned, don't buy little houses?  Or - try other banks?  

Hi Craig,

I am moving to Kingsport to be closer to my daughter.  I prefer to invest close to where I live, that's why I'm looking to invest in the Tri-City area.  Kingsport is beautiful geographically, but seems to have a rather depressed economy (compared to Hampton Roads, Va).  On the up side, the houses are affordable, on the down side, rentals are more in demand than homes for sale.  I already have two rental properties and prefer not to have any more money tied up.  

According to the Kingsport Chamber of Commerce, "Kingsport has one of the lowest cost of living averages in the state of Tennessee and in the nation and was recently ranked 45th in the nation for best home price appreciation."  Unfortunately they do not have any real estate investor groups in this area, I will try to get one started once I am living here.

I appreciate your response and hope I have answered your questions.  Good luck with your apartment purchase!

Connie G.

Hi,

I am new to the Tri-City area and would like to network with other real estate investors.  First thing on my list is to find a place to live - preferably a duplex that I can purchase, rent out one side & live in the other - or a house that has a separate living area that I could rent out.

Next, I am experienced in flipping houses, but have been told there isn't much of a market for that in this area. Is that true? I would like to partner with another experienced investor. I have some money to lend through a SD-IRA.

I will be in Kingsport through Sunday, the 18th.  I will be moving to this area by Nov.1st.   I look forward to hearing from you.

Thanks,

Connie