All Forum Posts by: Troy Miller

Hi Candace! I'm in Chattanooga too. My wife and I are investors here, and she is a realtor with EXP. We have done a good bit of work with older homes. Sometimes they are great and strong, sometimes not. You can get a good analysis from a gc and/or a structural engineer to evaluate before you shift to full demo of the structure or rehab of it. I have not done much in the way of re-zoning...that probably depends on what are you are in with the property. I've worked with a couple Hard-money lenders that might be of help to you. They are higher interest of course but you just work that into your numbers and see how everything comes out. If you do a full demo, and then build out, it may be that you can get a construction loan to put it all under, as long as you would have enough reserves to get it started. Glad to help with ideas and/or contacts if you want. Have a great week! 

I'm in Chattanooga, and I'm like Bonnie Low (above)...I only use Furnished Finder for my rentals. Almost everyone is 13 weeks in length so getting into the right "flow" of those movements (especially in the calendar of medical professionals) is key. It is a bit of a puzzle putting it together though. I have turned down bookings too far out if I think they leave an odd gap, but that makes you sweat a bit more for the next booking. I find, though, that bookings flood in about 3-5 weeks before the end of my current 13-week period. I also do get the 1-month and up to 6-month requests so I work with those too. It may be that having too many booking sites complicates rather than helps. BTW, how big is your furnished unit? I have two 1/1s and one 2/1. I get a lot more traffic for the 1/1s. I got another 2/1 duplex in east ridge that I'm considering changing to furnished but I want to see how my current 2/1 performs first (for a while). 

My wife and I are investors in Chattanooga too. We are glad to help any way we can. She is a realtor as well. Message me if you want to connect. 

@Andrew Bresee is correct and a good caution. You can, however, get into mid-term rentals to bypass some of these issues, if the income still makes sense.

@Corey Martin spot on...some of the reason(s) we invest here!

Here are a few reasons: one of the fastest internet speeds in the nation, availability and price point of properties/homes, size/scale (mid-size market), accessibility of downtown and other shopping and eating areas, outdoor activities, lifestyle and ambiance, ease of getting to other major cities (Atlanta, Nashville, Ashville, as well as Knoxville, Birmingham, Huntsville), and overall cost of living. Some of the reasons we moved here, and are investing here! 

Hey Matthew. Everyone has a different set of goals and targets for their investing so you knowing YOUR goals works best, but bringing that alongside how you might alter your goals with BETTER ideas and strategies. I'm at that point (again) now, having turned the equity in my main home into 8 rentals (6 sfh and 2 duplexes) and 5 flips. I've gotten this through essentially BRRRRing them. Now we've met goals for this year in equity build up, and almost there in cashflow, but am needing greater cashflow now to come fully out of my job (my wife already has), and doing this in a shifting market. I can keep at the same focus I've had, which has worked, but also need to see and learn if other things might get me to where I want/need to be. BTW, we've done all this in Chattanooga. Let me know if you have interest here still. We are investors here and my wife is a realtor. Reach out if you are interested! Keep pressing! 

We have one unit (in Chattanooga) we do as MTR right now, and are rehabbing another house that we are going to do it upstairs (2/1) and downstairs (1/1). I use FF only right now and have had way more interest than availability. Major consideration on whether we use a property as MTR or LTR has to do with how much utilities are going to cost compared to the increase in rent, and is it worth it...which of course is everyone's consideration. Many don't work much/any better for the additional work (with regular rents being strong) but some do. Hope it goes well for you! 

Hi Ryan. Glad to connect. My wife and I are both investors in Chattanooga, and she (Shannon Miller) is a realtor here. Glad to meet up on Zoom, hear what you are looking for, and give you some feedback on the area and help getting to your goals! Reach out anytime and glad to help you get going here in Chattanooga!

We'd be glad to meet up and see ways we could help you on your goals and plans!