All Forum Posts by: Alexander Price

@Sam Shueh SFHs All the new stuff going in is town homes.

@Jay Hinrichs East PA is still a war zone. Only reason to go there is Ikea for the meatballs. I did some work on a rental property for a friend of mine a few years back. The amount of people who swung by to scope our tools was insane. What a pain in the butt to pack them out everyday. 

@Sam Shueh

I live in Gilroy.  Not sure what properties are going for 400K in Gilroy, but they are likely not in good neighborhoods. There is a condemned house in a good neighborhood I know of that might go for that price. That is the exception. Also, cash flowing these after all expenses is rough. I was looking into renting out my primary residence because of a potential move. My loan is sub $400k on it. Considering all expenses, reserves and using a PM, it cash flowed a whopping $80/month. The average gross rent per month versus cost for this area seems to hover around 0.6%. I am new to the game so understand my perspective and experience is limited.

Would love to attend, but I will be in Houston. I was planning on trying to meet up with @Alex Craig when I make my trip to Memphis in the coming weeks. 

@Hadar Orkibi

@Curt Davis's numbers are pretty spot on. Just closed a property in October and those numbers are almost exactly what I paid. I will say this. The inspector has been my best friend and have paid for him to visit properties twice because contractors say they are done when they are not. 

Food for thought. 

@Eugene Lee

Hey Eugene, you PM'ed me but then never replied back when I responded. Anyway just a heads up, based on your tax comment, Memphis can have city and county taxes depending on where you buy. Also, if you are looking for A class tenants, you might consider talking with @Alex Craig if you decide on Memphis. While I have not purchased anything through him, people I have talked to say he offers higher end properties which draw the tenant class you are looking for. 

Good Luck with whatever you and post back on what you decided.

@Michael Dunn you should also note that depending on where your property is, you may pay City and County taxes. Also, with insurance there is a difference for actual costs vs. replacement cost. I think that is the correct insurance lingo. 

@Eugene Lee

I used Rent to Rewards which is a lesser known turnkey company out in Memphis. I bought two from them this year. One closed very recently. Great experience overall. I talked with and researched Mid South Home Buyers as well and waited through their wait list. Never ended up buying from them. They were very helpful and friendly. I know there are a few turnkey providers on here including @Alex Craig, @Curt Davis and @Chris Clothier. The three of them are active on BP and offer great advice and help, even if you do not buy through them. 

If you're interested in my experience feel free to PM me. 

Not sure if this is what you were looking for, but check here for the Memphis Investment Group: http://mig.clubexpress.com/

@Lauren Brown I recommend PMing BP user @David Hutson He has tried both (true) Turnkey and doing the job himself. I think in short he found he netted slightly better with doing it himself, but with a significant higher output on his side. He has posted about it before. David can probably answer a lot of questions and he is not a seller, so it will be pretty honest advice. 

Good Luck!

Well @James Martin can probably give you solid advice. There are a few property mangers on here that may be able to lend experience as well. @Douglas Skipworth, @James Wachob @Derrick Craig @Curt Davis and @Alex Craig

Good luck!