All Forum Posts by: Damon Gainey

@Eric Shadle I know a great agent/investor. The houses in Oak Ridge are from the 40’s and I would expect asbestos. The market is really competitive as well. I live on the outskirts of the area.

@Eric Shadle how much work are you needing?

@Derek Tellier I’ll be there!!! I’m new and getting started.

@Jeff Piscioniere good to know.

@Jeff Piscioniere East TN has a lot of great places and growth. Gatlinburg is part of the Smokey Mountains National Park and has more visitors than any other national park in the country. Most of the cabins cash flow nicely! However, they do not have good appreciation from what I have seen.

Knoxville is up incoming and has great potential. Cost of living is low and we have a serious housing shortage. Loat of government jobs from the nuclear plants in Oak Ridge. Lots of properties that are distressed and have opportunity.

Chattanooga is boo,I gas well with new industry and surrounding areas are older homes.

I’m new to investing but will be buying soon. Looked at a couple properties over the weekend that showed promise.

All the best in finding your first deal! Please let me know if I can be of any help.

@Yuko Tanaka this is not something I am going to move forward with. I have someone local that I am working with and he thinks the numbers are not strong.

Doing the plumbing up front, t thought, would make sense for a long term hold if I was going to be in the walls already. That is my theory anyways. Hoping to lower CapX in the future. However, I am more learning to the experience of the community to reduce my risk.

Thank you again for your input as I am practicing running the numbers for my first deal. Goal

Is to have one by end of the year.

@Yuko Tanaka Thank you Yuko!! Would it make sense to replace the plumbing or things like that during rehab? I am assuming it has not been done already. Wouldn’t that lower Capx costs in the future?

The rent was some what of a guess. The area is pretty good but I am not sure what the neighborhood looks like. I asked an investor agent that I am working with and he did not like deal much.

Thank you!

@Bryan Noth that makes sense and sound advice. Thank you!

@Justin Johnson I am no expert but I would say it is normal. Work your plan and you will be good. Best of luck!