All Forum Posts by: Joshua Watts

What a mess!! Looks like many of my joists are rotted also. What is your guys (and ladies) opinion, I much rather be working on a commercial project with block, concrete, and steal beams than wood frame homes or apartment buildings..

Income?  expenance? 

We are now back to work. The city was easy to work with, all they really wanted was there money..

@Evan Polaski I believe down here you have to have a permit also to demo, I just did not really think they would care to much until we started building back. The scope of work is a full rehab new plumbing, HVAC, and update the electric we may be able to save some of it. It's something to do that makes sense while I look for a larger more profitable project. I also just complete a big box store conversion (just outside Chattanooga) to self storage and would like to see the project stabilized before getting involved in another large project.

Well I have a update on my project and it is not a good one. I just got a "Stop Work Order" from the city. ;(. 

I know why I have yet to get a permit. My thoughts were I would get it all gutted and then go down to city hall and get that permit. I guessing the city had other plans for me. Lol. 

@Andrew Shevchuk

Been open for about 45 days. Rented 20 units so far. I could not be any more pleased. 

 Very rough $30/$35 per square foot not including land prep or the cost of the land. You can get on betcoinc.com.they have all sorts of information. 

Here is a place we picked up on  Signal Mountain for 215,000 if you want to stay in Tennessee 

While we own property in Chattanooga things are getting high compared to the rents. We have been finding luck picking up property just outside Chattanooga and there seems to be plenty of demand to rent it. 

We own a 22 unit apartment building in trenton  Georgia and yes you would have to pay Georgia state tax. But of course it is after depreciation. So the tax is not that bad. Things are selling at about a 9% cap rate if you can find anything down there. Demand is high out of the 22 units we will have one or sometimes two open. So we would be in the 90ish% full. 

I would say yes also.....BUT you need to get the city to tell you that the place can still be self storage. They can be wrong and you might be able to fight it and win but it would not be worth the fight being only 20 units.