Boots On The Ground in Memphis

8 Replies | Memphis, Tennessee

I am looking to buy wholesale properties in Memphis. I have seen several deals come through but, since I live out of the area, it is difficult for me to assess the deals without seeing the property.  Are there any services out there that could walk the property for me and give me an idea of the condition? 

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I've always bought MLS, low end houses in Memphis and Realtors were reluctant to go out and look at the houses. They would have you make an accepted offer, contingent on inspection, then go check it out. Smaller dollar amounts, less commission. If you have a property manager, they would send an employee/contractor out to inspect (for a fee of somewhere in the $150. range).

@Jack Ha -   Not sure if you have listened to any of his podcasts/videos, but Haim Mamane (the virtual wholesale guy) had a great system of buying homes from owners and wholesaling them without ever seeing them (or really ever coming to Memphis).  

He trained a guy as his inspector.  Which is also what we did when we were buying homes directly from owners or buying at auction.  This worked for us because we were looking at so many houses.

If you are looking at only a few, I'd suggest talking with property management companies to see if they have someone on staff with the experience to evaluate a home and at least give you an idea of what type of upgrades or repairs are needed.

@Jack Ha one way to get around that is offering to cover their commission yourself. But I would say most wholeslaers would pay at least some of the agent fee. Also, another idea I have is to make an agreement with an wholesaler that they not only get to sale you their properties but look at other properties for you.