All Forum Posts by: Ben Roberts

@Eric Doss, are you looking to buy a fire damaged property and just need some advice? or are you looking to wholesale a fire damaged property?

@Jerry Woods and @Rob Harris,

My best friend from high school is an investor in Memphis and now owns his own contracting business.   He's done work for my parents and grandparents, some aunts and uncles, too.  He's not the absolute cheapest, but he does amazing work and is unbelievably fair and honest.  Has bent over backwards for his clients and earned a lot of repeat business.  He has built the business completely through word of mouth over the last few years.  I know he's busy but I trust him completely and would be happy to pass along his contact information if you're interested.

4603 Dunn Ave

Memphis TN 38117

$49,900 Asking

Available now in Colonial Acres, this 3 bed, 2 bath, brick exterior, 1304 Sq.Ft home in quiet, East Memphis neighborhood with great cash flow potential. The roof is in great shape, the kitchen cabinets were repaired and refinished a few years ago and look amazing! This home also features a large, beautiful fenced-in backyard with a concrete patio, exterior storage room on the covered carport, and a giant walk-in closet off of the second bedroom. 

$925 / Mo Est. Rent

$85,000 Est. ARV.

$6,000 Est. Repairs

2016 taxes totaled $1,419.

@Alderio Burton anytime! Just ask.

Hey @Alderio Burton, it's been my experience that most folks aren't willing to just take you under their wing.  People are generally willing to help on something specific, though.  I've been wholesaling for the last year and I've met / talked to a bunch of folks.  The people I've learned the most from are folks that I had a specific question for.  Asking questions, getting to know folks, building a relationship first is the best way to find yourself a mentor.

Also, have something to offer.  For example, any time someone posts about looking for help in Memphis, or boots on the ground, I introduce myself and offer to help.  I've learned a lot from the people who have taken me up on the offer.

Start doing things and meeting people.  The right person will fall in your lap.

Feel free to reach out if you have any questions.

Eugene Lee , I'm not expert but I do live in Memphis and I'm a data analyst by day. Im sure you know that FedEx is not new to Memphis. The steady amount of renters isn't because FedEx came to Memphis, but their presence has certainly helped stabilize the local economy. I would be skeptical of buying in a market just because of a new industry or growth in business. You'd need to look at much more than that. I would be doing a ton of analysis on current hot rental markets to identify leading indicators and KPI then start looking for similar markets where the those metrics are headed in the same direction.

Got it. Thanks!

John Anderson , if I go in with none of my own money, and something goes absolutely terribly wrong, I still have a loan of $70K+ to pay off. I'm still responsible for ongoing repair, maintenance, vacancy, etc. What I mean is that I'm still taking on risk, even if I use none of my own cash to do the deal. I'm not looking to argue I'm just wondering why you say I should put up my money to make this happen if I otherwise wouldn't have to? Is there some advantage that I don't understand?

Will do, Shaune Faust I've been at this seriously since the beginning of this year. So far, I've closed 3 wholesale deals, I've got another under contract, and found these two properties in question. I have made SO many mistakes but learned way more than I would have just reading the forums. For some things, no amount of reading can substitute for actual experience.

Thanks Greg S. That would, of course, be ideal provided that it still produced cash flow. I'd love be able to go in with virtually none of my own cash and walk away with another few grand to do another deal with. Another $10-$15K would be even better.