All Forum Posts by: Nick Johnson

The COC return is pretty decent with airbnb in Chattanooga from what I am calculating. Using sites like airdna and mashvisor you can get a pretty good feel for what and where to buy. So my current strategy is to buy in the 100k-150K range, furnish and rent via airbnb. Sounds solid, except I have yet to choose a real estate agent, financing company, or property.

As for the agent, someone recommended Edrington team (David Hanson). They seem to do a good bit of business. If I house hack a multi-family property I will be able to keep most of my liquid capitol. Where should I begin when it comes to locating a property? Just get daily MLS updates and be vigilant?

@Brian Levredge, Sounds like a good choice but I have heard that owner finance is hard to come by and I am not sure where to begin on that front. Is owner financing always a better deal than the bank.

@Jeffrey Holst, we should grab lunch!

This is for Chattanooga TN, and I will try to keep this short. I house hacked a duplex in 2015 and I have been saving since then. I have been doing a ton of research, reading, and number crunching but the options seem endless. My strategy is to buy and hold to build a passive income and I am currently looking to start my first short term vacation rental (like Airbnb). I have enough saved to swing the 20% down, furnishing, light repairs, and closing cost on properties up to 150K. I assume the thing to do is to shop the internet for an investment mortgage? I also need to find that “good deal” as I am sure most people do. One way would be to subscribe to wholesale deals, assuming they would work with a non-cash buyer? The other way would be to use a real estate agent, and I have yet to select one so please feel free to recommend one. They may not be needed on a wholesale deal but I also have only a little experience in buying houses, so it may be warranted. My experience is limited to conventional options so maybe I need to think outside the box to maximize my capitol investment. Also it seems the lowest risk would be to just house hack another property. 

If you have read this far, I really want to thank you for your time. The possibilities seem endless and I would rather not make a financial gaffe that destroys my chances at real estate. Any advice would be greatly appreciated.