All Forum Posts by: Trey Maclin

Have to agree with most here in that a SF-> duplex conversion needs some really specific qualities to be worth the squeeze. Minimal changes to effect common entrances, no major shifts in load bearing, easy plumbing changes for wherever the new kitchen would be... it's a lot of boxes to check. 

@Vina Merrill,

Went to college in Knoxville, current a BDM in Chattanooga, where I'm from. There are a lot of affordable properties in Knoxville, but the growth isn't terribly vibrant and the deman isn't what you'd expect for a city of that size and that close to the Smokies - you're mostly looking at college rentals for the meat of the move season, and the SF market, while it exists, doesn't really compare to Chattanooga. 

The growth in Chatt (in part driven by it appearing in every single "best place to retire" vlog from 2010 onward), is in a different league. New builds, new developments, plenty of rentals within driving distance of the city center, and there are still plenty of areas where a good eye for a rehab job will get you a good ROI. No slowdown in demand in sight, but we shall see.

 Generally, I'd look for the ideal: % based mgmt fee with a cap on the value. A percentage base gives the company skin in the game, as they're making (generally) nothing when the home is empty. Flat rates often bill during vacancy, and this is less impetus for the leasing team to get it filled.