All Forum Posts by: Matt Castle

Excellent economic outlook, friendly state for business and jobs are plentiful. Interesting mix of new construction as well as older construction for potential flips. Lots of commercial development in many areas, so plenty of things to occupy us when the day ends. 

Disclosure: I'm in Knoxville so I can only speak about Knox and surrounding areas. 

@John Neff a spreadsheet to run numbers is all you need.

99% of RE books are rah-rah rants to motivate potential buyers into action or authors/ghostwriters rewriting what other successful authors have written many years ago.

@Bart Esparza Congrats on the move and growing family. 

Given you have so many things going on simultaneously, no one would/should fault you for going the safe route of securing a primary residence first. If it were me, I'd get things settled on the home front first, then branch out into additional future-building after things calm down. I've read relocating is the 2nd most stressful time we modern humans experience, so it's not something to be taken lightly. 

Gat/PF is definitely a happening area so if you're in the market for a STR, it's certainly a good place to start your search. Be advised that prices have risen rapidly over the last few years and competition is fierce, so don't get discouraged when you lose your first few bids at or above ask price.

Some lenders have loosened standards a bit about STR loans... they require 10-20% down, a credit score and use proven STR income to qualify the borrower. That's about it. I haven't done it personally but it seems more like an old school asset based loan.

Hey @Neal Stanfield. Welcome to Knox market. Hit me with a date & time and we can jump on a call or grab coffee. 

@Gregory Cudzilo 

Agree with @Russell Brazil. I would argue anything within commuting distance should be on your radar. When I worked in Rockville MD in early 2000s, anything within 60-90 minutes was commuting distance at that time. 

@Joe Delgrosso congrats on the solid ROI.

If I may ask, and I'm sure other investors would ask as well, but how much money are you bringing to the table in this 50/50 scenario? 

BP is loaded with investors who want funding for their deals, so it's a matter of showing potential investors what you bring to the table but also how much of your net worth is on the hook alongside their capital. 

@Curtis M. yeah I've went round & round with my broker on lead generating issues as well. It's a difficult strategy these days b/c of TN requirements. Hopefully I can spend some time digging into the specifics one day. 

East TN to Mid TN is where a lot of out of state investors are putting $$ to work. I get several calls a week from west coast and northeast investors. 

@Curtis M. I don't see it really hurting either the purchase or the sale. The only thing you have to do is disclose it. 

As a seller, you just include it in the text description. As a buyer, you have to give the seller a document saying you're interested in acquiring it and bid like anyone else. 

Where being a licensee does hurt you is as a seller of your own properties b/c your state required E&O insurance may not cover you if something goes awry and a disgruntled buyer sues you.