Matthew: Hey, everybody. Matthew Whitaker back with another “Where to invest in Chattanooga.” I’m here with Alex Smith, our team leader. (Where To Invest In Chattanooga – Signal Mountain) Say hey, Alex.
Alex: Hey, everybody.
Matthew: So, we’re super excited. Today’s a real interesting area we’re going to talk about. We’re going to talk about the Signal Mountain area of Chattanooga.
Alex and I were doing a really quick brief before we started, and really an awesome place to live.
So, we’re not going to waste any time I’m gonna jump right into it.
I’m going to share my screen just so you know, that we’re going to talk about the Signal Mountain area of Chattanooga.
So, Signal Mountain, are you seeing my screen, Alex?
Alex: Yeah, I can see it.
Matthew: Perfect. So, Signal Mountain, here’s Chattanooga, the city of Chattanooga, of course this is North Georgia.
Our office is right in here, and we’re going to talk about Signal Mountain today. So, Alex, just to get started, talk to me a little bit about, you know, who lives there, like what class properties these houses are?
Alex: Yeah, so these are Class B plus properties.
Most of the people that live up in this area are going to be like your doctors, lawyers, you know, those kinds of folks.
Matthew: So a lot of professionals live there. And also probably some Class A up there too, you’ll find?
Alex: Oh, yeah, definitely. Absolutely.
Matthew: Very good, very good. So you basically have a big homeowner population up here.
So, when you’re going to rent a house up here, you’re talking about renting to professionals.
If I’m a professional, Alex, how long does it take for me to drive, you know, into Chattanooga, maybe into the hospital there, into kind of downtown, the business district?
Alex: Yeah. So if you’re driving, you know, in and out of the city, there’s really only one way you can get up and down Signal Mountain.
That’s the way everybody takes. So, you know, on a good day with no traffic, you’re looking at about, you know, 15, 20 minutes.
If there is traffic, you’re probably looking more about 30, 35, somewhere in there.
Matthew: Okay, cool. So, you have a lot of professionals that basically drive up this mountain.
I mean, the reason people live up there is, I’ve been up there one time, and the views are amazing up there, right?
Alex: Oh, yeah, 100%.
Matthew: So you’re living basically on top of this mountain.
The reason they call it Signal Mountain is that during the Civil War, the Union soldiers I think used to use it or one of the sides used to use it as a place to basically signal information back and forth around the valley there.
So, that’s the reason they call it Signal Mountain. Talk to me about rental rates up there.
I mean, we’re talking about Class A, Class B plus properties. What are you finding are the rental rates?
Alex: Yeah, so rental rates, you’re probably looking somewhere in the 800s, 1200s, maybe 13s, 14s.
Matthew: So you’re looking at, you know, let’s call it maybe a thousand plus, and then you’re looking at…and there probably are some big rental.
You could even find some Class A that maybe even be higher than that I would imagine, 1500, 2000 plus, is that…?
Alex: Yeah, definitely. Absolutely.
Matthew: Okay. And then talk about some points of interest.
Like I talked about the awesome views, but talk to me about like why somebody would want to live up on Signal Mountain.
Like if you’re an investor and you’re looking to invest, you know, one of the things we want people to do is really understand, you know, what the tenant profile is, why would somebody want to live up here?
Alex: Yeah, so if you want somebody that’s the outdoorsy type, there’s a ton of hiking up here.
So if you see that little squiggly green line to the left, where it says Old Town, that’s pretty much where all the hiking starts.
And then you can hike like to and around Rainbow Lake right there.
The little bit of history from why it’s called Signal Mountain, there’s a little lookout up here somewhere, I forget where exactly it is.
But there’s a little like exhibit talking about the history
Matthew: Probably right in here.
Alex: Yeah. So it’s right there, so, that’s interesting, but you can see the whole city from up there.
Matthew: So, it’s a great place. I mean, just imagine driving a quarter-mile to a trailhead, being able to walk down to Rainbow Lake, that’s the reason people want to live here.
I mean, it’s an easy drive into Chattanooga, you drive 20 or 30 minutes into Chattanooga, and then you can drive five seconds to be outdoorsy.
You know, it’s got its own school system.
And traditionally, when places have their own school system, it is, you know, they’re able to kind of watch it better, and control it better, and probably, in general, a place from a school system standpoint.
So, any last thoughts about Signal Mountain, Alex?
Alex: No, I mean, as you said, Signal Mountain is its own community.
So, you know, if a tenant wants a quiet place to live, where they’ll have everything they need, and they don’t really need to go into the city for a whole lot, Signal Mountain is a good place to be.
Matthew: Awesome. Well, I’m going to start sharing.
Alex, what’s the best way if someone wants to know more information about Signal Mountain to get in touch with you?
Alex: Yeah. So if you’ve found your thing, you can feel free to give me a call 423-648-7368 extension three.
If you just want to shoot me an email first, that’s fine too. You can email [email protected]
Mathew: Awesome. If you’re an investor, and you’re looking to invest in Signal Mountain, or you’re looking to invest in Chattanooga, we would love to answer any questions.
Obviously there’s no obligation to do that. Give us a shout. We’d love to help you make good decisions.
I always tell investors like, we want you to make good decisions because, unlike a real estate agent who just dates you, the property manager always has to marry you. So we have to spend a lot of time with you.
And we want to make sure that you have a good investment. So, thanks so much.
This was Chattanooga and we were focused on Signal Mountain. Thanks so much, Alex.
Alex: Yeah, thanks.
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.