I just getting started in REI and have been considering the purchase of a distressed SFR in the Memphis and/or Jackson TN area. I wanted to pay cash and provide low income rentals in the area. Any info or advice for a new beginner would be much appreciated! Thanks,
I'm new here too. The best advice I can give you is talk to people in the areas you're interested in buying in. I am considering foreclosures in my area here. The worst thing you can do is nothing.
I have been thinking and over-analyzing for years. I haven't done anything, and we've (my wife and I) suffered for it. I've been suffering from what Robert Kiosaki refers to as "analysis paralysis". It seems a very apt term. Most people suffer from it. They analyze a situation, try to anticipate every single problem and situation that might arise, and end up doing nothing. Inaction is my worst enemy at this point. It might be yours as well. I'm hoping that other people who actually know more about this stuff than I do respond to your post.
I’m investing in Jackson tn if I can give you any help
If you don't mind me asking, what type of price point are you finding to be best for you in Jackson? Are you into SFH or are you working in a mix of properties? Any tips would be greatly appreciated!