Things To avoid While Getting Into Real Estate Investing In Chattanooga.
What’s up everybody? Alex Smith here from gkhouses Chattanooga. This is another edition of Questions Owners Ask. The question I wanted to do today was, “I’m looking to get into real estate investing in Chattanooga, what are some things I should avoid?”
So there’s three I wanted to talk about today.
The First Things To Avoid While Getting Into Real Estate Investing In Chattanooga is pretty simple.
And you would probably do this if you are going to look for a house that you are going to live in Chattanooga, is don’t overpay.
You know, everybody always wants to get the best deal for the lowest price you know, this one is pretty simple don’t overpay.
The Second To Avoid While Getting Into Real Estate Investing In Chattanooga is don’t assume a house is going to appreciate.
And to delve a little bit more into that, don’t have appreciation be your only profit center.
Like the stock market, the housing market is impossible to time. You know, home values can change for reasons outside of your control.
And you know, don’t assume a house is going to appreciate and don’t have that be your only form of profit.
A pro-tip while buying/looking for a house in Chattanooga would be to buy a house that you can add value to you by fixing up, whether that’s, you know, doing a whole flip or maybe rearranging the kitchen, upgrading appliances, upgrading cabinets, adding a bedroom, things like that.
If you wanted to appreciate your house by addition, that’s a good way to do it. But like I said, don’t assume your house is going to appreciate because it might not.
Also, In Chattanooga one thing I wanted to talk about is another thing you can do is buy a house that’s already got a tenant in it.
That’s already cash flowing. That’s another good way to generate some cash flow.
And then the last thing I’ll say about appreciation is even if your house value goes down, if you got a tenant in it, you’re generating cash.
So unless you’re looking to sell the house, it really doesn’t matter what the house is worth, if you’re looking to buy and hold. So yeah.
The Third Thing To Avoid While Getting Into Real Estate Investing In Chattanooga Would Be The One A Lot Of People Don’t Think About.
This is something a lot of people just don’t think about but, you know, land-lording is a business regardless of whether you have a property manager or you’re doing it yourself.
And you know, looking that you’re going to have some customer service with keeping tenants happy, keeping vendors happy.
You’re going to want to keep your expenses down and you’re gonna want to keep your, you know, increase your revenue however you can.
So, you know, this one’s pretty easy to overlook, but just make sure you’re treating your homes as an active investment and you’re treating them like a business.
These were a few things that one should avoid while trying to get into Real Estate Investing In Chattanooga.
But that’s pretty much it. And If you are looking for a Property in Chattanooga and , If you have any questions, I would love to help.
Just let me know. You can call us or you can email us.
Thanks everybody. See ya.