Anyone working with Midsouth Homebuyers?

Question

I’m considering buying a property through MidSouth Home Buyers and would love to hear from investors who have owned MidSouth properties recently, ideally within the last 2–3 years.

A few things I’m hoping current owners can comment on:

Drew Sygit · Answer

I'd beg @James Jones to help me evaluate their properties before buying.

Even have him go walk the property for you!

Too many newbies get screwed buying Turnkeys that turn out to soon need repairs or nonpaying tenants.

Arman Ahmed · Answer

I’d definitely talk to a few recent owners before buying, especially about the actual rent, property management, repairs, and what the numbers look like after expenses. A turnkey deal can look great on paper, but the neighborhood and management matter just as much. If you’re open to out-of-state, I’d also compare a few Midwest opportunities where you may find lower entry prices and better cash flow, then let the numbers decide.

Nicholas L. · Answer

@Kathleane O'Leary

hello

i don't know them and can't speak to their performance

but i always get nervous when new investors - especially under-capitalized ones - are interested in turnkey

so stepping back - what are your goals? and where are you located?

returns are likely to be lower than you anticipate for many years

hope this helps

James Jones · Answer

I'm a Memphis buy-and-hold investor with 236 doors, so I know the turnkey scene here well. I haven't bought through MidSouth personally, but here's how I'd evaluate any turnkey provider in Memphis: ask for the actual rent roll and closing statements on three recently sold properties, verify the rents against what Section 8 actually pays in that ZIP ($1,395 to $1,950 for a 3BR in my areas — some turnkey pro formas use inflated market rents), get an independent inspection even on a 'fully rehabbed' house, and confirm exactly who manages it after closing and what their fees really are. The biggest risk with turnkey isn't the company, it's paying retail for a house that doesn't cash flow after real taxes, insurance, and Memphis vacancy rates. Run your own numbers on every deal, never theirs.

Anyone working with Midsouth Homebuyers?

Anyone working with Midsouth Homebuyers?

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