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Is Now The Right Time To Buy Rental Property?

The last year or so has seen the real estate market in general start to really heat up. The Chattanooga market recently saw year over year gains in the double digits-a big move for a market like this one. Rents are up. Vacancies are down. Days On Market (a metric measuring the average number of days it takes to sell a house) have been cut nearly in half. There are many other factors we could illustrate, but we think you get the point. So what does this mean for you as an investor? More than likely it means it's harder to find a good deal. It also means you most likely pay more for the deal you do find. The question then becomes should you make the purchase? The answer, [...]

By | 2016-04-05T20:30:57+00:00 April 5th, 2016|Featured, Owners|Comments Off on Is Now The Right Time To Buy Rental Property?

5 Questions To Ask Your Potential Property Manager

Do you own property in Chattanooga?  Are you interested in renting it out, but need someone to help manage the marketing, tenant screening, maintenance, rent collection, etc...  Whether you are providing the perfect apartment, an amazing condo, or a wonderful house for a family... there are several questions you need to ask before signing an agreement with a Property Manager! Never let the thought of simply having a local property management company be enough to win you over. Whether you are planning to lease your property for months or years, it's critical for you to ensure you have all of the right services available to you.  Not all property management companies or property managers are equal.  So, it is critical that you have all the information you need BEFORE handing over your keys!  The additional [...]

By | 2016-01-13T10:43:58+00:00 April 4th, 2015|Blog, Featured, Owners, Property Management|Comments Off on 5 Questions To Ask Your Potential Property Manager

The “Real Estate Investing Is Passive” Myth

No doubt many (if not most) of you have seen the ads on TV or radio offered by any number of real estate gurus.  They are advertising vast riches and wealth if you only buy their courses and get into real estate investing. A big part of that pitch is that real estate investing is something you can do in your spare time and that it is passive investing for the most part. The first part of the preceding sentence bears a lot of truth but the second part does not. The reason it gets thrown around so much is because it makes the pitch sound that much better, and thus easier to sell. Before we go much further it bears exploring what passive investing actually is. From Merriem-Webster's online [...]

By | 2015-02-24T03:20:39+00:00 February 24th, 2015|Blog, Featured, Owners|Comments Off on The “Real Estate Investing Is Passive” Myth

What Is The Right House For You?

Many real estate investors have a particular niche. Investing in single family homes is no different. There are different niches within even that space. While homes range in prices across all spectrums, we'll focus on investment properties that typically sell in the $20,000-$30,000 range vs those that sell for right around $100,000.(As a caveat, these numbers will obviously vary widely depending on the market). As a new investor, there is definitely an attraction to the paper returns offered by the lower priced house. The cost of entry is much lower obviously, and the ROI's often pencil out to +20% (which for an all cash investment is very enticing.) Generally speaking, however, there is usually a good reason why the property was so cheap in the first place. Homes that sell in that [...]

By | 2015-02-24T03:24:36+00:00 February 21st, 2015|Blog, Featured, Owners|Comments Off on What Is The Right House For You?

Investing In Home Foreclosures For Sale – Tips For Saving Money

There are more and more reports and studies about the rising amount of home foreclosures for sale. These appeal to both investors and individuals who are looking for more houses that they can afford. After the collapse of the housing market, the resulting decline in prices of all homes, foreclosed or not, has made the market even more appealing for buyers, experienced and novice alike. Experienced investors are very busy right now and trying to gobble up as much of the best deals on these properties that they can. It's not at all unheard of to buy one of these properties at 50% below market value and then do the repairs necessary to resell it just a few months later for the actual market value. But in order to make [...]

By | 2015-02-12T02:46:42+00:00 February 12th, 2015|Blog, Featured, Owners|Comments Off on Investing In Home Foreclosures For Sale – Tips For Saving Money

Are You Committed to Your Real Estate Investment?

There are many questions that should be asked before embarking upon a career of real estate investment. The first and foremost question however should be whether or not you are truly committed to making real estate work for you. This is not a business for the faint of heart. In order to truly turn a profit you must be at times ruthless when dealing with buyers and sellers but ethical to a fault when it comes to the work that must often be done in order to get a property in sellable condition. The reason a serious commitment is needed in order to make real estate work for you is simple. There will be ups and downs along the way. The stock market experiences rises and falls on a regular [...]

By | 2015-02-12T02:45:39+00:00 February 12th, 2015|Blog, Featured, Owners|Comments Off on Are You Committed to Your Real Estate Investment?

Attracting Quality Residents

Let me first preface this post with the statement that it is possible to attract quality residents to most units in most parts of town... It just might take more work and time to do so, which can hurt your returns. This post will focus on general principles. Attracting good residents starts with the area where the property is located. Better schools, proximity to shopping or employment centers, as well as good freeway/highway access are all pluses. Areas that lack these traits can be more difficult to rent, so set yourself up in advance. Remember that residents don't just live in your house or apartment. They are part of a larger community as well. The subject property should be of high quality and well maintained. Appearances matter. You want someone [...]

By | 2015-02-01T23:17:27+00:00 February 1st, 2015|Owners|Comments Off on Attracting Quality Residents

Resident Screening Tips

Selecting residents for your properties is of crucial importance. The ideal resident is one that will stay for 2 to 3 years, pay on time every month, and not cause headaches otherwise. The million dollar question of course, is how do you find them? You don't necessarily want to rush when filling a vacancy. That doesn't mean take your sweet time, but rather be thorough in your evaluation of prospects. There is a process, and it all starts on the phone. Here are is the engagement process for identifying prospective tenants to become the next resident for your property: The Phone Call: Be polite and friendly. During the course of the conversation work in questions about length of time at present residence, why they are moving, do they own pets, and so [...]

By | 2015-01-18T03:48:24+00:00 January 18th, 2015|Blog, Featured, Owners, Property Management|Comments Off on Resident Screening Tips

Your First Criteria For Investing

The idea of investing *locally* sounds great, right?  The term "local" really helps narrows your focus and allows you become a targeted investor.  Well, theoretically, that's how it should work.  However, the local real estate market must still be analyzed for solid investment opportunities. So, where should you start?  What core criteria can you use to help evaluate the local market? First and foremost: Jobs.  Job growth drives real estate appreciation and rent growth through increased demand. Ideally, you want to identify markets that are adding manufacturing jobs as those types of jobs have a multiplier effect that acts as a magnet for more job growth. This multiplier effect has been cited in numerous studies. For example, Chattanooga, TN is where Volkswagen manufactures cars sold in the US market. The plant presently [...]

By | 2015-01-18T03:32:55+00:00 January 18th, 2015|Blog, Featured, Owners|Comments Off on Your First Criteria For Investing