All Forum Posts by: Rik Hunter

"New Listings in the Chattanooga region increased 6.1 percent to 1,432. Pending Sales increased 15.7 percent to 1,008. Inventory increased 28.0 percent to 3,233.

Median Sales Price increased 0.6 percent from $346,250 to $348,200. Days on Market increased 28.2 percent to 50. Months Supply of Inventory increased 23.3 percent to 3.7."

What buyer wouldn't want more inventory? The population continues to grow at about 1% per year; the metro area's pop. is 562,647. And we're seeing continued job growth. 

There are 57 residential income properties currently on the market. I've heard some say the investor market is softening, but sales everywhere seem to be softening, and 2025's overall market is expected to be slow.  

I sold my duplex last fall because I saw the investor market softening locally (and it's softer now), a lot of new apartment complex construction, and I wanted the cash to finish my live-in flip. And appreciation on it since then is under 2%. I was cash-flowing $450/door/month before taxes, but I'd like to keep doing live-in flips while I'm physically able to rather than manage properties and tenants (where I'm also doing most of the maintenance). 

I'm a new realtor, and spent my spare time in the winter doing the 60 hour course and the spring doing the 30 hour course. I watched a few videos on exam prep, but they really didn't offer me more than what was in the courses. One tip is that you've got to focus on terminology. Taking notes is important because they say you're not allowed to make copies of the course materials, like through screenshots.

I passed on the first go, even though the online proctor shutdown the national exam with 12 questions to go! Lol. My wife came home from work, and he saw her walk past the laptop camera. Bam! Exam over. 

Bruce asks they key question, however. Why do you want the license? For me, I love real estate, am an investor, and I want a career change. 

I'm a new agent and have been watching a lot of videos on direct mailing and have checked out a couple printers. Neither do letters. Letterhead, yes. Postcards sent to you local post office, so you can get the local postmark. Sure. 

I like the idea of trying handwritten letters with something as narrow as expired listings. Thanks! 

I'm a new realtor, and a simple thing to do is take MLS info with a well-written prompt and ask AI to write a listing description for you. You can keep directing it with better prompts to fine-tune it and revise it yourself at the end to what you want.

Hi, Jonathan. I'm an agent and sold my duplex this past fall after rehabbing it and self-managing for a decade. Now, I'm just getting starting as a Realtor and haven't sold hundreds and hundreds of properties, so I can understand if you're looking for someone with more experience. But let me know if you'd like to chat. 

https://www.biggerpockets.com/business/page/5713

I sold my duplex last year, starting around this time. It was completely rehabbed and turnkey with both sides rented, but one tenant was on a month-to-month lease. The lease on the other side was up in October. I advertised this info, and I think that made a big difference. 

I got interest from families, as in two related families wanting to live side-by-by; a couple couples with a mother-in-law they wanted to put in the other unit, and ultimately, I sold to someone wanting to buy their first home and househack and keep the renters on the 12-month lease. 

I got little to no interest from investors because of the price. It just didn't pencil out unless someone put 30-40% down. But I only reduced my asking price $10k because knew their were different types of buyers out there. 

Can you share your listing with me?

Hi, Gregg and Gwen. I'm an agent in Chattanooga and can connect you with my Broker/Manager, who has experience in STRs. He's not on BP. 

https://www.biggerpockets.com/business/page/5713

With ceramic tile, you can cover it with self-leveling concrete and add your new flooring. LVP would work well in a basement.

@Raul Mena There's really no need for an LLC at this time, but landlord insurance and/or an umbrella insurance policy may be a good idea to give you extra protection because of those other people living in your home.

My experience was buying duplex and living in one unit and rehabbing the entire building. It was cash-flowing from the start, even with the rent from just one unit. That's probably much harder to find today unless it needs lots of work like mine did. So, a tri- or quadplex is also a good idea. You still wouldn't need a LLC here, either.