All Forum Posts by: David Hilleke

I second everything that has been said. Well done, all! I firmly believe Chattanooga will be able to stand on its own during and after the next major shift (unlike the Nashvilles of the world like you mentioned). Jobs availability, relatively low taxes, and high rent to mortgage ratios make us a solid B&H play. Airbnb is a bag of money around here as well, if done right and in the right locations. Short answer: plenty of opportunities. Come on down!

Welcome to BP and the RE world in general, Alexandre! You can't really go wrong from here. 

I gotta throw my 2 cents in for Keller Williams, if we're talking brokerages. I did extensive research before I became an agent several years ago and you can't beat KW for training and support. 

Either way, get out there and do some deals!

Hi Jordan!

Chattanooga would love to have you! Depending on the date and time of your visit, I'd be more than happy to sit down and talk Chatt REI.

Welcome Tim!

I second most of what everyone is already saying. I listed my last personal residence for rent and it was gone in less than a week to one of several qualified applicants. @Jeffrey Holst has a good point about duplexes, especially in a few key areas and depending on what caliber or tenant you're looking for. First beer is on me next time you're in town if you'd like to swap stories!

Colleen and Tyler, would you send the adverse action letters to the other applicants in my particular case?

Folks can apply and pay the fee directly to zillow; I get a copy right afterwards. It's $29 for a standard credit and background through experian. There is opportunity to send over basic personal info before actually applying but everyone went straight for the actual application. 

Hello all!

First rental hit the market 3 days ago and I've been swamped with interest; it's a great problem to have but now I've got questions.

First question is in regards to adverse action letters. Since their credit was pulled, do I have to send letters to everyone who applied but didn't get chosen? It's one thing to deny your only applicant because of something on a report, but in this case, I'm choosing the most qualified applicant over a multitude of others.

Do I start processing applications in order as soon as they come in and stop when I find one that is a good match for the property or take them all through?

Finally, a scenario. Several potential tenants say they're very interested and would like to apply. You've verified almost everything from a different applicant's report and will likely be choosing that other person, barring anything crazy. Do you ever tell the other people to save their money or to CYA, just let them apply? I feel like I answered my own question just now but I'd like to know what folks think. 

Welcome Heidi! I'm an agent as well and I just listed and filled my first rental. It's a great time to be in real estate; let me know if you'd like to talk shop sometime.

Hello all!

Has anyone experimented with small scale multifamily (4 in my particular case) and having one unit occupied long term by an individual who runs the other units through Airbnb? I like the idea of having someone on site to address concerns, handle turnover, etc more so than driving back and forth to do it myself. 

I second the podcast option but if you don't spend a ton of time driving around, sit-downs with folks who are where you want to be is the way to go. Definitely go to the Thursday meet-up as well but shoot me a message and we can do the coffee thing some time soon.