Updated over 7 years ago on . Most recent reply
Out of State Investing (Memphis)
All!
Looking at investing in Memphis as an out of state investor. Have a $200k cash for BRRRR.
Currently living in owner occupied Duplex in Pacific Northwest
I am targeting purchasing 5-10 SFH/MFH over the next year near downtown Memphis. Also, will be analyzing Airbnb income vs traditional rental.
I am open to partnering on deals if it makes sense.
I appreciate any and all advice on Memphis and could DEFINITELY use referrals (see below) .
Referrals Needed:
1) General Contractor
2) Real Estate Agent
3) Broker
4) Property Manager
Cheers,
Chris
Most Popular Reply
In order for the BRRR to work and try to get all of your money back you will need to buy something already renovated. The lenders who do the refi on this will only be able to take into account your purchase only and not count any rehab unless you were to get a private loan.
You might give @dean harris a shout as he works more as a Realtor and can assist you that way. I do not see too many turnkey companies selling anything in the downtown market if that is where you plan to stick to.
Good luck
- Curt Davis
