We finally did it! We pulled the trigger and began investing in Chattanooga real estate! After a couple of years of studying and mulling over potential deals, our neighbor, Jon Wooten, approached us with a partnership opportunity that we couldn’t pass up!
Having Jon as a part of this deal made us feel a lot safer than trusting ourselves to do it right the first time around. Jon had 30 doors before 30 years old, but this was his first single-family home and flip-and-sell to invest in. We surrounded ourselves with mentors and asked a lot of questions.
Jon handled the management and execution of the project. We couldn’t help ourselves to get our hands dirty too. One day, Alyssa spent nearly five hours shoveling a massive pile of muck and tree roots out of the driveway…with 3 yo Beckett in tow, ha! Her back was sore for days. Jimmy found himself quite familiar with fixing door jams, patiently painting edges no one else had the patience for, and making sure we handled the finer financials well.
The process wasn’t perfect, but we’re super pleased with the aesthetic outcome, timeline, and sale! Now to the next Chattanooga real estate deal that we can find!
Update: We’ve begun taking this adventure as full-time as we can with Bright Beacon Property Solutions!
Some thanks:
- Jon for his hard work, networking, knowledge-sharing, and for trust!
- Haley for supporting Jon…cause we all know behind every man is a woman making it happen! 😉
- John, lovingly named, the “invest-tah-ment man” by Beckett, for his labor and expertise.
- Jillian Cole, for helping us get this on and off the market quickly!
- Jeff Jones from Andrew Johnson Bank for lending us what we needed, ha!
- Big thanks to Williams Griggs for taking our listing pictures too! It’s unreal to see the before and after!
We’re ready to do our next investment by ourselves or with someone else! (We’re actually visiting a property tonight!) So, if you’re in the market to partner or have a Chattanooga real estate investment property you want off your hands. Let’s talk! 🙂
So excited to share some side-by-side before and afters with you below!
This Chattanooga Real Estate Deal Stats:
4 bedroom, 3 bathroom North Cleveland Home on 1 acre, level lot
Purchase Price: $197k
Rehab: $35k
MSRP: $340k
Turnaround Time: 4 months
