All Forum Posts by: Alex Evans

Hey @Halid Parladi

Welcome to Bigger Pockets. 

With you just starting out I would point you towards all of the resources that Bigger Pockets has to offer. 

There are a number of books to read, calculators, and the forums provide a great deal of information for someone who is just starting out. 

Your motivation is great and it will take you places in this industry only some people can imagine! 

I would be more than happy to help answer any questions feel free to reach out!

Hey @Alain Perez-Majul

I speak with a lot of wholesalers and buyers here in the Memphis market and they have found that texting or phone calls definitely work better than emailing people. 

Hello! 

The Memphis Market is a great place to invest! 

We have seen great cash flow and stable appreciation for many years now!

One major advantage to Memphis is the job market that many of our tenants are employed in. We see a large number of blue-collar families that work for the distribution centers here in the city. This stable job market allows for people to rent even when times get a little tougher. 

I would love to discuss the Memphis Market with you! Feel free to reach out! 

Hello @John Dawson

A lot of people in the Memphis area will schedule with the tenant to install the AC units at the time of move in. 

I have also seen people remove and store them in a storage unit while the turnover is happening. 

Hello @Chad George

There are a number of options for financing! 

One option a lot of people use is conventional financing. This is the Golden Ticket of real estate because it has the lowest rates and typically the lowest percentage down for something that is not a primary residency. 

Another option a lot of our investors have been using recently as well is an Interest Only Loan. This is a loan at a set rate for a certain period of time. It can be 5/7/10 years and then the loan is amortized over the remaining 20 years. During that first set period you are only making interest payments and are not making any principle payments. We have seen this option improve cashflow tremendously. 

The other option a lot of people use is private lending or hard money. 

I would be more than happy to help answer any questions for you! Feel free to reach out! 

Hello @Faraaz Siddiqui

I agree entirely with what Matthew stated above as well. This is not just here in the Memphis market, and it is happening in every market across the country. 

If your main strategy is cash flow, and you are looking to improve those numbers you may want to look into an interest-only type of loan. This is a loan where you will only be paying the interest payments for a certain period, such as 5/7/10 years. Once that time is over you can keep that loan, refinance into a different type of loan, or sell the property. 

I would be more than happy to make a recommendation for you! Feel free to reach out! 

Hey @Lynn Dinh

Using the things that Jeffery said are super helpful! 

I also use the Zillow rental manager and look at the comps in the neighborhoods. It is all about founding a good solid rent that people will pay! 

Look at the rental prices and determine which ones were on the market for the lowest amount of days and that can point you in the right direction as well.

Hey @Logan French

The X areas are just places that we do not buy in.

We tend to stay away from the Downtown and Midtown area as well just because we focus more on the rest of the city and the suburbs! So that is why there are those X's around the downtown area. 

The $ or $$ sign place are just places where it does not typically make sense to invest for cashflow purposes here in the city because the value of them are too high when you compare it to the rents that you would be able to get. 

Hey @Nerlande Joseph

The Memphis market is a great place to invest in. The values here have not really kept up with the rest of the country so you can get into the A and B neighborhoods at a lower price point. 

We see stable appreciation, decent cash flow year on year, and our rents are increasing as fast as ever! 

I would be more than happy to discuss the Memphis market with you! Feel free to reach out!

Hey @Logan French

Investing out of state for your first investment is very normal. This is especially due to the value of properties that are in other areas, and the cash flow that can be made. 

Whether you are looking for good cash flow or better appreciation the Memphis market can offer it!

I would be more than happy to discuss the opportunities that are out here!