All Forum Posts by: Donald Hodge

Susan and I will bring some sweet treats (cookies and/or brownies)

Alan, I only one picture of each one and it is on CL at https://chattanooga.craigslist.org/reo/5347441051....

Stephanie, what part of TN?  thanks, Don

Caleb, would enjoy talking sometime.  We too work in Tenn (though mainly in the Chattanooga area now) and the Tampa Bay area.  thanks, Don

• This is three duplexes, ARV of $220K total at 5904, 5906, and 5908 Graston Ave, East Ridge, TN (near Chattanooga, TN). The rents are currently very low for each of the duplexes because they have not been renovated at all (one has had a refresh recently, but the other 5 are as built). The reno for each of the units is between $5-$15K for the insides and that would include flooring, paint, appliances and the installation of central air/heat. The ARV is easily $220K and the market rents are between $650-$750/month (average $4200/month). I figured the expenses to be 33% of income each month after the reno is complete. That equals a Net Operating Income of $33,768 annually and a cap rate of 15.3% (market cap rate for the area is 9%). I already have a GREAT property manager in place and she could probably have her in house staff do some of the reno at a reduced cost and she is very thrifty with an owner's cash. Chattanooga is a great city of about 750K in the entire metro area and the major employers are Tenn Valley Authority, VW, and Amazon distribution. You should see average market appreciation in the properties.

Come to a HiREI meeting.  We are on Meetup.com, thanks, Don

I would agree that both HiREI and REI Mastermind are great places to meet and discuss REI.

Beat of Luck.  Hope you can attend the HiREI meeting on 3 Dec.  Happy Thanksgiving. 

Hi, I would love to discuss partnering in Clarksville TN and Hopkinsville KY if you get over to those areas, thanks, Don

Christie, I am a Windward side investor as well and would love to talk story some time.  My number is 808-352-3701, thanks, Don