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Rent to Retire in Knoxville TN - Dirty Bike Rider, Mike Weatherford
Manage episode 345149589 series 2631555
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Rent to Retire Knoxville, TN, Mike Weatherford Story.
Is Knoxville a Good Place to invest? Listen to Mike’s story in why he moved to Knoxville, TN.
Have you ever dreamed of getting out of the rat race and golfing all day, being by the beach, or even hiking in the mountains? Or maybe a combo of all 3?
Years ago my parents were wanting to snow-bird from Ottawa Canada to CA and loved the golf course life and the weather in the Palm Springs desert area. Quiet laid back, museums, hiking, it had it all.
Knowing that it would be hard to save for a home here and that things usually get more expensive, not less, I suggested to my dad that we go in on a home there. Coincidently I had a client who was moving from their current desert home to a newly built one in the same complex. I went down to check it out and thought it had everything they wanted. That was January 2001. The condo cost $87,000 my parents and I both chipped in $5k to cover the 10% down and closing costs. The community is the Desert Princess Country Club.
We were able to rent it out seasonally, though not a lot at first, then in 2005 and 2006 buying second homes became popular, vacation rentals by owner (that became VRBO) were invented and that part of the real estate investing market became much easier.
So, we were able to rent it out and USE it – the best of both worlds!
Rent to retire R2R™
Let tenants, whether short-term or long-term, pay your bill so you can retire the way you want WHERE you want.
We still own that property and will have it paid off soon.
Now listen in as we learn from my guests where they bought, how they financed it, and how they manage their rent to retire properties.
My first guest is Mike Weatherford, a former pro dirt bike racer, now a medical professional who is married with 2 children, has owned 3 different homes, and took the leap this year in buying his Retirement home.
Find out how he picked the city, what he paid, what the market rent is, and how he manages all this when the property is 2000 miles away
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