Hi, I’m Kelly with Goldthread Legacy Properties, LLC. I came across your BiggerPockets posts about investing in Memphis and wanted to connect. I currently have a vacant single-family property under contract in ZIP code 38107, with an assignment asking price of $64,000. It’s approximately 1,000 sq...
Hi, I’m Kelly with Goldthread Legacy Properties, LLC. I came across your BiggerPockets posts about investing in Memphis and wanted to connect. I currently have a vacant single-family property under contract in ZIP code 38107, with an assignment asking price of $64,000. It’s approximately 1,000 sq...
Hi BP Have a 10 unit apartment in Memphis & thinking about doing 1031 into SFRs. Anyone done this & what is process/problems, financing, etc?
Good morning — I've done a handful of rehabs, and the part that still trips me up isn't estimating the budget up front, it's tracking the actual spend once you have the keys in your hands. Receipts pile up, I split some costs with a partner, and by the end I'm rebuilding everything in a spreadshe...
Looking for Information for a commercial property. We are wanting to buy a commercial property. It is for sale by owner with an agent involved as well. Owner is asking for 50% down, and will finance the rest. Building has rehab needed. What would be the best way to finance this property? We also ...
I'm interested in hearing from investors who are currently active in the Memphis, Tennessee market. For those who own rental properties or are actively buying in Memphis, how has your experience been recently? A few things I'd love to discuss: Which Memphis neighborhoods or ZIP codes are you curr...
My bank (BankPlus) keeps dropping or vice-versa from Stessa. I don't really want to have to check it every other week but it will not import any of my transactions and I'll have to go back and manually do it and that kind of defeats the purpose. Is this a Stessa or Bankplus issue? Anyone have thi...
Hi, I'm Collins. I'm new to real estate and learning wholesaling. I'm researching Memphis and would love to connect with others who are learning or investing there. What do you wish you had known when you started?
I'm a general contractor in Memphis, which means I usually meet this problem after it's already happened. Somebody calls me when the renovation is finished and asks whether there's anything we could add that would bring the appraisal up. By then the answer is almost always no, and more importantl...
Memphis has always been a city built by people willing to put in the work. It is the birthplace of revolutionary ideas, shaped by legendary innovators who saw opportunity where others did not. From Robert Reed Church Sr., the South’s first Black millionaire who invested heavily in local real esta...
Somebody asked in another thread how you vet a contractor when reviews can be bought and references are hand-picked. It's the right question, and most of the answers to it come down to vibes. Here's the version built on records instead, specific to Memphis and Shelby County, because a record can'...
Hi guys, I am looking to start a BRRRR project later this year in Memphis, but wanted to find lenders who can cash-out refinance. I spoke with one who can refinance after 12 months, but I prefer lenders that can do it after 6 months. This will be a SFH rental property and a conventional loan. Any...
I am starting out my investing journey with Section 8 in Memphis. I was hoping I could connect with some veterans in the business that could shed some light on their experience and guide me in the right direction! Thanks
I am an out of state investor I have a SFH rental I purchased 5 years ago from a large, turn key operator, who has continued to PM the property, located in Memphis within the 38118 area code. It was renting for $1495, up until tenant move out in July, purchased for $160k in 2021, 4 beds, 2.5 bath...
Hi all, I have a performing portfolio of short-term rentals that I'm looking to refinance. Here's where things stand: • Current rate: 7.25% with local lenders • Average LTV: ~70% • Strong cash flow across the portfolio I'm open to individual loans or a blanket/portfolio structure, and comfortable...
Hi BP community, I have a question and would like to receive feedback from those with experience. I am looking at a turnkey duplex in Memphis with a purchase price just under 100k, what type of loan should I be looking for, I have read about DSCR loans but not sure if there are other options. App...
Hi all, Can anyone recommend some local Memphis banks who work with Investors? I'm OOS and looking to build relationships with local banks. Thanks in advance.
I look at a lot of Memphis houses that investors are about to buy, and almost every expensive surprise I watch somebody walk into comes down to one distinction they didn't make. A house can be ugly. A house can be broken. They photograph identically and they are completely different investments. ...
I've been running short-term rentals for a few years now — two in Memphis and one in Northwest Indiana near the Indiana Dunes. Across that time and three different doors, I've installed, lived with, and in some cases returned seven different smart locks: Schlage Encode, Yale Assure Lock 2 (Wi-Fi)...
Hi there, I am looking to buy a set of 3 duplexes (that are $125k each) Id like to buy either one or all of them, wondering if I buy 2 or three if I can roll them into one DSCR loan to save on all the fees. Also what qualifies if the location is rural? (Location is about 50 mins from metro city i...
I got $20k to put down. What is my best strategy for the biggest ROI?
Hello, I was recommended by my realtor to use Avalon capital as hard money lender in Memphis area for BRRRR. Has anyone used them before? How has your experience been? Thanks, Ani
Hello BP. I just finished up the licensing/tax EIN requirements for my LLC (which is based in Tennessee). I have a couple of potential deals in the works, but I haven't chosen a bank in Memphis. Do any of you have recommendations for a good local bank in Memphis? I'm buying in cash now, and will ...
I am just starting with investing in Memphis, and before I take the plunge and start making offers, I want to talk to some lenders about what my options are. I am a cash buyer right now, but will be looking to refinance the properties as I rehab and get them rented. I know there are banks with lo...
There have been a lot of long-vacancy posts on here lately, and the advice almost always lands on the same two things: drop the rent or fire the PM. Sometimes that's right. But I do turns in this market for a living, and a big share of the houses I walk that "won't rent" are priced fine and marke...