Rachel is an entrepreneur with a promising idea for a new business. Even though she was ready to launch her business, Motivo, last Fall, she didn't now how she would make it work financially. So, she turned to an unconventional place - her home.
Rewind Five Years
In 2013, Rachel and Warren were moving to Chattanooga from Los Angeles. As she and Warren shopped online for a home, they felt lost.
Thank goodness we had somebody that we could lean on to give us that real hard look and say this is where you need to be and why. - Rachel
In their search, Rachel and Warren had bookmarked a home in St Elmo. It was the first home they saw on their tour with teammate Andy Bond. But, they just weren't sure. With his intimate knowledge of the neighborhood, Andy encouraged them to move forward. He knew that the St Elmo house would be a good fit for them and that the neighborhood had potential for massive price appreciation. Trusting his advice, Rachel and Warren bought the house.
Homeownership is the average American’s greatest chance to accumulate wealth.
One way to capitalize on that is to buy in a neighborhood that’s likely to appreciate in value dramatically. The classic example in Chattanooga is the Southside, where prices ballooned over a decade.
Here are the indicators a neighborhood really is “up and coming”:
The neighborhood is surrounded by other desirable locations like parks, hiking trails, shopping, etc.
Natural boundaries and a unique culture clearly define the neighborhood.
The neighborhood is friendly to pedestrians who like to walk and bike.
Eateries and other cultural venues are close by.
There is abundant evidence of restoration and/or new home building as you drive through the neighborhood.