Barry Phoenix, Home Buyer in Chattanooga, TN

We are looking to buy a rental property. Where would we get the most renters looking for a nicer home to rent?

Asked by Barry Phoenix, Chattanooga, TN Wed Feb 6, 2013

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5
Scott, Home Seller, Tennessee
Wed Mar 6, 2013
I have a property in the downtown area that would make a great rental property. Please feel free to contact me if you would like some information.
0 votes
Rhonda Tribb…, Agent, Chattanooga, TN
Thu Feb 7, 2013
I own rentals in Chattanooga and my advise is to decide on an area that is a comfort zone for you. You will Ned to be able to get to the unit with ease for repair emergencies if you maintenance yourself as I do. All areas of town have good area for rentals. The most important question is acquisition. How are you going to purchase. If you pay cash there will be a lot more available if you mortgage it gets harder to do d the right one. It all boils down to a number crunch. A Realtor can help you with this to find a positive cash flow investment as long as the said Realtor is versed on how all this works. Rental property is a great thing when you purchase correctly but very bad otherwise. Of course, I would be glad to assist but just make sure you assistance from someone with experience. Good luck & happy renting.
Web Reference:  http://www.RhondaTribble.com
0 votes
Mary Carlson, Agent, Chattanooga, TN
Wed Feb 6, 2013
As you may know it has not been easy for renters to find rental homes as they rent out quickly. Most renters in the Chattanooga area are looking to pay under $1200 monthly. What price range are you looking in?

Mary Carlson, GRI
Selling Chattanooga and NWGA since 2000
http://www.mlsarealistings.com/marycarlson
0 votes
Lorry Asling…, Agent, Chattanooga, TN
Wed Feb 6, 2013
It is hard to find homes to rent in a good area with good schools, etc. Many renters cannot buy a home due to credit issues. Downtown Chattanooga is home to the University of TN @ Chatt. Many college students want to rent houses rather than live on campus. That would be a good area or a larger home near schools for a family
0 votes
Daphne Rober…, Agent, Chandler, AZ
Wed Feb 6, 2013
I suggest you decide what area is appealing to you and focus on a rental that is not too far away from where you live (within 20 miles). Then have an agent run rental comps for you so you know what you can realisically receive in rents and if that makes sense for cash flow. If you live in the SE Valley may I suggest Tempe, Chandler and Gilbert depending on the price range you want to be in. Always take into consideration if your rent is very high you may be limiting the rental market you are trying to capture. Also having a proactive agent marketing your rental means you are more likely to have it rented in the least amount of time. Condition and location are important so easy access to freeways, schools, and shopping is another factor. If you need more info you can contact me directly at 480-560-5554.
0 votes
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