All Forum Posts by: David Morgan

I wouldn't run, I'd just make sure there's no active infestation and that it can be repaired. Depending on the cost estimate of that, perhaps renegotiate purchase price. I'd let a contractor look at it before spending a ton on pest control, could be overkill. I bought a house recently that had a lot of termite damage, but it probably happened 30 years ago, no active infestation. We just replaced the damaged parts. No big deal.

But if you DO run, please let me know ;)

What do you do in a case like this where the seller vacates, but their adult child refuses to leave, doesn't come to the door or respond to notices to vacate the property, and uses the house as a drug den? Asking for a friend. ;)

@Ryan Hawkins, when do you close?

If the contract is assignable, you can assign it to your LLC, or another buyer for that matter. Sounds like you could wholesale it and make decent money.

Or get an equity partner, or get a loan.

You have options. Pm me if you get stuck, happy to help.

Price drop on this off-market Knoxville property in the Parkridge neighborhood: $48,000 OBO.

I've updated the listing on my site with a video walk-through and more photos. All offers considered!

Built in 1910, ready for rehab. Excellent neighborhood for flip or rental.

ARV $85,000

Rent estimate: $1,000 or more with duplex conversion

In-demand Parkridge neighborhood.

Unfinished basement has separate entrance, may be able to convert to studio apt.

Property needs to be cleaned out, roof, flooring, paint, etc.

Features laundry room, spacious closets, big kitchen for a house this size. Great floor plan maximizes space.

Asking $55k or best offer.

Also join my .

Luck may well be a factor. Also growing up here and knowing a lot of people. I've got my list of "go tos" and a list of "heard abouts" and you're right -- everyone seems extremely busy. Often have to wait a few weeks to get things going. 

I've had good experiences with Joey English at Trotta Montgomery Real Estate, and David Conner at Foothills Bank & Trust in Maryville for portfolio loans.

Zero luck with property management companies. I ended up hiring a former tenant who took exceptional care of a rental as a manager. Best decision ever.

You won't have any trouble finding quality contractors. 

Try Raymond L. Clowers Co. or Wiseheart Appraisal. Don't know if either know anything about sub2, but they've both been quick and thorough.

@Brian Robbins I'll keep my ears open. 

@Sean Pan I'm a fan. I have a couple of multifamily deals in the works there. It's a diverse area with everything from run-down areas, to blue collar neighborhoods, to gentrifying neighborhoods on the upswing, to upscale historic districts. Good area for cashflow.