All Forum Posts by: Edwin Fisher

Sounds like fun! Luke how have you been? We need to catch up!

Great question how what about you has your investing style changed? I have a completely different outlook on investing. I was in for quick money, I was flipping for fast cash, I never did proper analysis of deals that’s changed mostly thinks to BP. I had read a few books a mistakenly believed that a rule of thumb for example the 70% rule was deal analysis. I tried to do full time real estate investing to early with too little experience. Without a Job for back up or too keep the banks happy.I am much more conservative, I try to buy property in the path of progress with potential for appreciation and good cash flow.I guess you could say I cherry pick the deals I take on now. It is not all about the numbers I do this for fun on my days off, so I really need to like the deal!

Welcome to BP I'm in Chattanooga, I think about 2 hrs south?

Good luck!

Hello everyone I have been a investor since 2002 but I sold everything at the crash. Now I'm rebuilding a Hold portfolio, I would like to buy small multifamily 3-16 units.

I'm a hold investor so others could better answer your flipping questions. As to long therm city growth in Chattanooga great question. Right now we are all wondering what will happen with Volkswagen.

I don't know the Knoxville market, but I can tell you we do have great Mt biking in Chattanooga when you come for a visit we can hit up some trails!

Also plan your visit so you can check out our REIA

(423) 299-REIA (7342)Welcome to the Chattanooga Real Estate Investors Association! We meet the first Thursday of every month from 6:30-8:30pm in the back room of Asia Buffet at 6901 Lee Hwy, Chattanooga, TN 37421. The meeting is a great time to network with other investors and learn more about the real estate market in Chattanooga.

Good luck in your search, let me know if you have more questions. Eddie Fisher

Good idea I will talk to the land development office and check requirements to build on the property. As far as exit strategy I was planing to put it on the MLS, or do a lease purchase with option and down payment, or owner finance? I felt this land would be attractive for a stick built sf, or as a mobile home site as this area has no restrictions forbidding Single or double wide trailers. Any ideas on how to structure A exit? It seems like required septic and well install within a set time, could count as down payment but I have never structured a deal like that any ideas?

So hear is the deal I have a motivated seller 2 acres of raw land in a area that is growing. It is in a rule area. About 15 min from town (shopping) 7 minutes from the interstate. It Has plenty of public road Front and power, but no public water or sewer available. property should sell for about 15k of the MLS, I offered 5k cash or $200 for a 3 year option to buy at 6k. Any advice? I have thought about doing a perk test ,

The 2% rule is a rule of thumb,not a replacement for real number crunching and my not fit many strategies and markets. For markets it works in the 2% rule can be a quick guide to see if a property warrants further investigation. In my area chattanooga TN many people apply at the 1% rule for A and B class property, but I can still find property that meets the 2% rule with C and C- class property. But keep in mind the closer a property is to meeting at 2% rule the better it will cash flow. Eddie