All Forum Posts by: Alexander Price

@Sean Tagge

@Sean TaggeDo you guys use a property manager for your current rental in Memphis? I would ask them for some contacts. There are a lot of Turnkey guys who operate on here who might be able to help you as well. I know @Douglas Skipworth has a lot of connections and I believe @James Martin is a realtor. 

@Mario Rossi

I agree with Alex. You may want to talk to other wholesalers from Memphis and find what strategies work best for them. I closed on a property 6/1 this year and have already received 3 offers to buy my property since they are targeting me as an out of state investor. So I know one strategy is the yellow letters. Another option would be to befriend a probate/estate lawyer and see if you can lead generate that way. Also, the BP podcasts have a few different interviews with wholesalers. 

Good luck!

@Alex Craig

Also we live in CA because of the high wages. Because of my frugal lifestyle I can support my family of 4 while living in the South Bay on a single income and still invest. However, when it comes to taxes, CA can suck an egg. They always want more money, even if nothing related to their municipalities earned it, in this case rental income from TN. 

@Dean Letfus

Well I am not sure when the pictures were taken, but it is currently being rehabbed. The property is also a 3/2 which helps rents a little. Are there specifics about the area that make it not worth it? 

@Alex Craig and @Curt Davis

Thanks for all the help and advice. Gave me some extras to think about. On a separate note, I plan on heading out to Memphis before the end of the year. When is a good time to visit (decent weather or fun events)?

@Alex Craig

All good points. The property I am moving forward with to close is at 3820 Tutweiler 38122. I am buying turnkey, so I understand that I am paying market value. which seems to be ~70k range. I just don't want to be underwater at purchase (overpay). I understand the prices are subjective, and in reading another post from @Chris Clothier, appraisals tend to come in even lower for investors.  I hope to (plan to) hold this property indefinitely. True long term buy and hold, so it may not matter much.

@Douglas Skipworth

Thanks as always. 

Do any of the investors from Memphis have good referrals for appraisers? I am buying a house cash out there, but still would like an appraiser to give me a fair market value estimate of the property. Any help is appreciated. 

@Raheel Chohan

Welcome!

I have started investing turn key in the Memphis area recently. I am working towards a second now. The one thing I can say, is interview and research companies and their owners (operators). As for the question of turn key versus doing it yourself, that will probably be heavily influenced by market. 

I know another BP user, @David Hutson, uses turn key in Memphis and also did a rehab himself there (as an out of state investor). I believe he said it was pretty much a wash on returns vs. extra work. I cannot find the post so I may be misquoting him. That said, it may be different in some of the other TK markets.

Good luck!

@Dianne W.

May I ask who you are currently using? You can feel free to PM me if you do not want to share publicly.