Matthew: What’s up everybody? Matthew Whitaker back with Alex Smith in Chattanooga (Where To Invest In Chattanooga – East Ridge).
And today, we’re going to talk about a new area called East Ridge. Alex, so excited about East Ridge.
We did a quick meeting before this, and I’ll tell you what, East Ridge is a pretty exciting place If you’re looking to invest in Chattanooga.
What would you say?
Alex: I would agree 100% with that.
Matthew: Yeah. It’s… We’re going to get into some of it.
There’s a lot of, kind of, new exciting things going on, some businesses that are coming to this eastern part of Chattanooga and north, kind of, northwest side of Georgia.
So, let’s jump right in. I’m gonna share my screen and we’re going to take a look at it.
So, here is Chattanooga. Our office is right here, gkhouses office is right here. Today, we’re going to talk about the East Ridge Community.
Talk to me a little bit about… Let’s start with just, kind of, rental rates in the area. What are you seeing from a rental-rate standpoint?
Alex: Yeah. This is where a lot of our management portfolio is, and you can find a little bit of everything.
If, you know, on the lower rental end is your thing, you can find anything from like the 700s on up to like 1000-plus in this one area.
Matthew: That’s pretty exciting. And that’s one of the things that I think is important to note, is just kind of the diversity of housing stock there.
So, you find everything from kind of B, B-minus, all the way up through A, would you say?
Matthew: One of the things that are cool about this area, too, is just its proximity to, kind of, the business district of Chattanooga, the downtown area where a lot of redevelopment’s happening.
How long would you say, if I lived in East Ridge and worked, kind of, in downtown proper Chattanooga, how long would it take me to get to work?
Alex: On a good day, you know, thankfully, there are a couple of different ways you can get into the city.
If you have to take highway 24, it’s kind of a Russian Roulette in terms of if there’s going to be traffic or not. And if there is, you’re probably looking at 25, 30 minutes.
Matthew: And so, tell me the type of people that are moving to this area. What is the kind of tenant profile that we’re seeing in this area?
Alex: Yeah. So, you get a pretty mixed group.
You have, you know, people like young professionals, you could get, you know, younger families.
And you get a little bit of everything.
Matthew: Perfect. So, you’re going to get a mix of demographics.
Even some kind of older folks are moving out here, retirees?
Matthew: Awesome. So, the other thing I think is cool, and you asked me to do this right before, I want to switch to a satellite view.
So, we’re going to zoom in on the East Ridge satellite view.
Talk to me about… See all this red dirt in East Ridge? Talk to me a little bit about that.
Alex: Yeah. So obviously, you can see there’s a lot of development going on.
Where Matthew’s mouse is right now, that’s a Bass Pro Shop right there.
And the rumor, I haven’t seen this confirmed yet, but the rumor is that there’s a Top Golf going in there.
So, that’s pretty exciting. Down south, as you go into… I’m sorry before I get into that.
If you go look to the left of that, where the Bass Pro Shop is, I’m almost positive that’s where the Chattanooga Red Wolves Stadium is going.
So, that’s one of two semi-professional, professional soccer teams that Chattanooga has, so that’s exciting as well.
And then as you go down south, Costco is down that way. You also have a Cabela’s.
And obviously, you know, you can see all the dirt, so there’s a ton of things happening over here.
Matthew: One of the things, I think, is interesting when you start to name places like Cabela’s, Costco, you know, they’ve done all their demographic research.
So, it kind of tells you a lot, like, if you’re thinking, like if I’m investing in Chattanooga, and I’m thinking, “Well, what type of area I’m I investing in?”
Costco, Cabela’s, these types of companies go into certain types of places from a socio-economic level.
So, I have always thought when you invest in places that somebody like a big Costco is investing in, and you see this type of red-dirt development, you’re talking about an area from a, just a common, a huge upside standpoint.
People are going to have a lot of options to go out and do things, a lot of places to shop.
It just makes a lot of sense to invest along with because as an individual investor, you can’t spend the money that Costco’s spending or that Cabela’s is spending to do the demographic research.
So, you can kind of piggyback along with companies like that to find really healthy areas.
Let’s talk to… So, the other thing that’s important too is East Ridge, which today were talking about, it kind of bleeds into North Georgia.
And this looks like it’s kind of the Boyd Highlands. There’s… So, it may change in terms of the name as you cross over the Tennessee and Georgia line.
Yeah, sorry about that, Alex.
The other thing I think is important is this, Highway 41, is it kind of a business district, right?
Alex: You cut out a little bit. Say that again?
Matthew: I’m sorry. The Highway 41 right there is kind of a business district?
Alex: Oh yeah. There’s a ton of… It’s one of the main thoroughfares through East Ridge, so you have a ton of business on either side of that road, and that’s also one of the alternate roads you can take to go to work as well, instead of…
Alex: Yeah, no, I was finished. So instead of Highway 24, which I mentioned is kind of a, you know, always a gamble if there’s gonna be traffic or not, you can always take Highway 41 or Highway 64 up north a little bit.
Matthew: And so, this is Interstate since, 75, which obviously runs all the way to Atlanta.
This is interstate…
So, this, it’s kind of at a major intersection where things are splitting off, this is going up to Knoxville.
The area we just covered is East Ridge. Alex, let me stop sharing so people can see our pretty faces.
All right. So, the area is East Ridge.
And what if someone wants to know more about East Ridge or where best places to invest in Chattanooga?
How can they get in touch with you?
Alex: Yeah. So, you can feel free to give me a call, 423-648-7368.
Or if you just want to shoot me an email, you can do that too, [email protected], and you can put my name in the subject line and I’ll get back to you pretty quickly.
Matthew: Awesome. Alex, thank you so much for your time. Super excited to be in Chattanooga.
And again, if you’re looking to invest, if you just have general questions, we want to be a resource, we don’t want to be we’rand e not going to be the sales type.
We want to just educate you to make good decisions because it helps us manage houses better when you’re making good decisions.
So, thanks so much. We’re at gkhouses.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.
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