All Forum Posts by: AJ Singh

@Account Closed

the entry point for a rental in Bplus to A minus neighborhood is $110k to $120k nowadays. 

some neighborhoods are unincorporated so u can save on city of memphis fees.

Good luck

@SREE V.

i have rentals in cordova and they are easy to rent upon turnover.

Good Luck

@Srini Ramkumar

you have gotten great advice here. Do your due dilligence, be patient. OOS investing is only good if you have funds to scale to five or ten rentals within a year or two. One or two rentals wont give you much. 

@Account Closed

twenty five paid off rentals in midwest or midsouth should do the trick.

@Earl Salisbury Jr

You will need a twelve month operating statement to figure out what yearly profit is after expenses and mortgage.

@Natalia Avalos

Since your are working through a turnkey provider and paying close to retail, i would get the inspection items taken care of by seller. Your PM should be able to provide you with a quote or ask seller to fix it and then have it verified.

If you are buying property at a considerable value discount vs comps, then only safety items can be addressed. I use inspection report as a negotiating tool in escrow process so we can have a win win situation for both buyer and seller. As of now you have only spent $200 to $250 for an inspection and you can walk out and be patient as @Chris Clothier advised.

Just being a buyer from out of state does not mean having no leverage, stand your ground.

Best of Luck!!

@Jeff J.

Best of Luck in your search.

The multifamily cap rates look very attractive in Midwest and Midsouth. One criteria for me will be the quality of tenant and the turnovers. 

I also live in southern ca and invest in memphis and consistently have been advised to look for single family rentals in b plus neighborhoods. 

just my two cents..

@Kevin Kraver

when you have identified your turnkey market, take a tour of neighborhoods. Engage a local investor realtor who can show comps for turnkey properties and suggest you MLS or off market listings that you can rent. That will give u an idea whether turnkey properties is worth it or not.

Another criteria is that your turnkey vendor provides prop mgt in house otherwise you may be dealing with a marketer.

@Henry Murray

I live in seal beach and invest in memphis and inland empire locally

@Chandler Harker

you dont need to buy local using Roofstock. i suggest going to a local real estate investors meetup and getting educated on the local area first. hope some local connections will  lead you to a successful real estate investments.