All Forum Posts by: Jeffrey Holst

@Nick Johnson,  I think @Brian Levredge is right that you could be more flexible in your purchase but I think a 20% down deal is entirely doable.  I just think you need to know what the conventional rents would be before buying in case the Airbnb idea doesnt work out as well as you want it to.  I dont have any Airbnb experience but its seems like most the people doing it are renting places they have extra space in and less whole house deals.   Side note I always like networking so if you want to meet up at some point let me know.  I am also in Hixson.  I have several properties in Chattanooga and really like the market.  (it is getting pricier now though so you need to be more picky)

It all depends on your risk tolerance and personal preference.  Personally Id buy a couple with some leverage but make sure I had at least 30% equity just to be safe particularly if I were moving to a new market.  Chattanooga is a great market but like everywhere its important to buy right.  

Check this post out a spin off...I love it.  

@Tom Murray,  Thanks for the shout out! super nice of you.  Posting my goals has been very helpful to me.  

Local and community banks will still talk to you but you need to reach out and talk to them.  Explain what you do and your experience.  Maybe find a local investor to make a re feral for you as well

I think you both make good points but in general rents trend upward.  Property values also trend upward.  If property values go down it does not necessarily mean that rents also go down, they certainly could and making sure that you have a good margin (ie cash flow) will off set that risk.  The more cash flow you have per unit the safer the deal is.  If you have cash flow and continue to have it through downturn you should come out the other side with even more cash flow since you will have opportunities to pick up more cash flow while everyone else is selling.  

@Nicholas Richard Ray and @Chizoh Uzegbu Thank you for the replies.  

@Vina Real that is amazing!  Congratulations.   I love it

@Larry O'Connor thanks for response,  I think partners can be great as long as you make sure everyone's roles and responsibilities are clear

It would also be good to check out podcast 41