All Forum Posts by: Myles Young

Has any one ever bought a church or building and repurposed it as a rental? 

There is a church for sale with 2 bathrooms, office and 2 class rooms. Along with an additional building 24’x30’ with electricity and efficiency kitchen. There are no pictures of the inside so I can’t tell the condition but imagine that it would need a new layout. Any thoughts would be appreciated, trying to stay creative in this crazy market. 

Found a duplex that works with the numbers in a quiet neighborhood. Looking at the taxes and property information has shown that the property is listed as commercial which is confusing to me since it’s in a residential area no where near commercial buildings. 

My lender that I had set up has informed me that they will not be able to lend on this property due to the listed commercial. Are there any reasons for concern with a property listed commercial as a duplex? Are there any benefits to listed commercial? 

I new about VW and Amazon from prior research. That’s all good information and will take that into affect. Thanks everybody 

@Kelly David Sansom

Thanks I will look at these tonight. 

@Travis Jacobs

Thanks for your insight, I spent Saturday driving around Chattanooga and I would agree with your assessment. The city is nice but probably not for me. It seemed to me that a lot was based around the college and tourist spots. Is there other businesses that are around Chattanooga and the surrounding areas that employ the locals? Just trying to see the macro of what draws people to Chattanooga. Thanks

@ Matthew Porcaro Yea i have looked into doing the 203k since iv always wanted to buy something that needs some work. realized quick that the properties that i would find the banks didnt want to lend on and i dont have the resources to do a cash deal and renovate. 

in Chattanooga I would be starting fresh as I dont know the contractors that work in the area. I figure i would have no problem meeting some GCs that could wright out the scope of work and then work a deal with them to do the work Im not comfortable with while I would do as much of the work on my own to save some money. 

@ John Wayne thanks i will be sure to look in to the sub markets. So two up coming area would be the Highland Park and East Lake areas, i will take a close look into these neighborhoods. I will be driving out to Chattanooga in the up coming weeks to get a feel for the areas. 

I have been eyeing TN because I have friends that are spread out around the state and like the no income tax. would you think that areas around Nashville or Knoxville would be better investments and job resources since I will be looking to continue a W2 Job?

@Jason Hill. as I am not real familiar with the sub markets of Chattanooga i dont know yet. i have just started my search of the area. i personally prefer to be outside the city limits between the suburbs and rural. I would like to find a market that has a demand for rentals so i realize maybe the suburbs would be a better investment. 

Hi there

I’m looking for some information from some locals that are currently investing in the areas around Chattanooga TN. I am a licensed journeyman electrician currently working for a contractor in Asheville NC with the thoughts of moving to TN.

What are the locals thoughts about the current market for SFH and small multi family? As well as how the rental space is. What are the areas to look for and the areas to avoid?

I would like to get started with my first investment property, really first property at all. Possibly a house hack so I could live in and rent out other units or a live in flip that I would plan to rent when completed. What seems to work well in the area, small multi family properties or a SFH with a mother in-law space to rent.

Suggestions of good realtors in the area with experience in investment properties would be appreciated.

Is there anyone with experience in using a 203k loan?

Hi there!

I’m Myles, I am new to real estate investing with no real experience. I’m here to learn and network with others interested in the journey of real estate investing. I am a journeyman electrician with 6 years in the trade and 15 years experience in residential remodeling. I’m originally from south Florida, the West Palm Beach area, and currently living in the Asheville NC area. 

I am looking to learn the strategies of house Hacking to get started and evolve into SFH and small multi family properties to build out my portfolio. Looking forward to the journey ahead.