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 … [Read more...]
5 Questions To Ask Your Potential Property Manager
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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 … [Read more...]
The “Real Estate Investing Is Passive” Myth
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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 … [Read more...]
What Is The Right House For You?
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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 … [Read more...]
Investing In Home Foreclosures For Sale – Tips For Saving Money
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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 … [Read more...]
Are You Committed to Your Real Estate Investment?
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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 … [Read more...]
Attracting Quality Residents
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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, … [Read more...]
Resident Screening Tips
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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 … [Read more...]
Your First Criteria For Investing
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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 … [Read more...]