East Tennessee home sales in August saw a healthy 2.1% increase over July, and a 7.4% increase over August 2024.The median sale price was $376,200 — up 3% from the previous year.Total housing inventory has increased 31.4% from the previous year.Half of the homes sold were under contract in 28 days or less, up from 20 days a year ago.39% of homes sold for the asking price or above, with 18.3% selling for more than the asking price. 7.9% sold for at least $10,000 over asking and 2.7% sold for at least $25,000 over asking price.5.5% of all homes sold in August sold for more than $1 million, a new high mark for the year.The sale-to-list price ratio lowered slightly to 98.6%, still up from 97.6% a year ago.New construction was 11.9% of total home sales.August sales saw a boost over July, outperforming the prior year and bringing the year-to-date total up by nearly 4%.

They don’t usually foreclose like mezz— they take over control rights if things go sideways.Ideal for:Ground-up or heavy value-add where cash flow is lumpyDeals where senior lenders cap leverageSponsors who need flexibility on timing of returnsThe real deciding factor: cash-flow timing vs. controlIf you can make regular payments but don’t want to dilute ownership → MezzanineIf you can’t guarantee near-term cash flow but need capital to close the gap → Preferred EquityIf your senior lender forbids mezzanine (which happens often) → Preferred Equity is the workaroundOne more nuance most posts miss:Preferred equity comes in two flavors:Soft Pref – economic preference, no takeover rightsHard Pref – essentially mezzanine equity with control triggersUnderstanding which version you have matters just as much as the return.Both tools are powerful, if you pick the wrong one for the wrong project, it can wreck your risk profile.

One thing I wish I knew early on is how powerful relationships are in this business.

A 3–5 gallon tank heater is cheap, tough, and works every timeThe small tanks:✔ Use very little power✔ Plug into standard 120v or small 240v✔ Cost $150–$250✔ Are easy to replace✔ Heat water fast✔ Require no fancy wiring✔ Don’t care about flow rate swingsEven though they keep water hot all day, the total kWh usage is tiny because the water mass is so small.For sporadic sink usage, the cost difference on your electric bill is negligible.5.

They are a large company that has buying power and a network of contractors realtors and others to do the work. the owner, Zach also here on BiggerPockets and has a stellar reputation for customer serviceFor cons - people will view some companies in a negative light because of this, but the reality is the individual who is thinking negatively is typically inexperienced and doesn't understand the businessbut....this is a reality as someone who has been in this space for almost 30 years.Contractors realtors, and others one day could be an A player and do great work.

Letting this one stabilize for a few years while you stack cash seems like a powerful way to build that foundation.You're off to an incredible start.

there will be a lot of short sales and foreclosures": I thought you said they won't be able to sell....

This seems to be pretty standard for the area.The bad:  The home inspection found evidence of knob & tube wiring, and there is basically 1 outlet per room with tenants running power strips and extension cords all over the place. 

If you’ve been in real estate for a while, you’ve probably heard people talk about Real Estate Professional Status (REPS)— but most investors still don’t fully understand what it means or how powerful it can be.Here’s the simple version:If you qualify for REPS, the IRS allows you to treat your rental income and losses as active instead of passive.That means depreciation, cost segregation, and other real estate losses can actually offset your other income — even W-2 income.For full-time investors or spouses who manage their properties, that can mean tens of thousands of dollars in tax savings every single year.To qualify, you need to:- Must materially participate in their rental activities.- Spend over 750 hours a year in real estate activities.- And more than half of your total working time must be in real estate.It’s not for everyone — and you have to document it properly — but for serious investors, it’s one of the most valuable tax tools out there.Most people think wealth in real estate comes from appreciation and cash flow…But the biggest gains often come from how you use the tax code.Curious — have you or your spouse ever tried to qualify for Real Estate Professional Status?

You will probably maximize the sales price this way too as house hackers have lower down payment options than non-owner occupied investors.