All Forum Posts by: Bill Manassero

Julia,  Thanks for the encouragement.  I was getting kinda depressed with some of the responses.

Have you gone through the Section 8 application process?  Do you know how long it takes and can it be done online?

Thanks again.

Bryan, Thanks for the great info.  I really value your experienced advice.  Thanks for taking the time to share your expertise. I paid cash and own the property outright and can't afford the loss right now.  If i can just get them rented (probably through section 8)  I will be happy with the $1K plus monthly cash flow.  I've got to give that my best shot (marketing, etc.) and see what happens. If I can really see the downward trend I will think about other options but markets fluctuate and so do crime areas.  If I could trade it for something comparable in value and cash flow I would definitely consider that but to take that big a hit would not work for me right now.  I will see if I can get good comps or an appraisal just to see how bad the hit would be but I think I have to give it a shot for right now.  Call me an idiot and I may regret it but it's all part of the learning curve, i guess.

How would I go about connecting with potential real estate agents in Memphis that might help get the property rented?

Unfortunately, I can't screen or interview prospective tenants (in person) because I live in Haiti.  Does anyone know of any good Memphis Property Managers that could get this property rented?

OVG has a big following of investors from China and the middle east.  They have backed out of Memphis a bit saying the rental market is saturated.  There were two tenants when I purchased the property that both left weeks after I signed the purchase agreement.  Luckily the turn-key had a 6-month rent guarantee that I have since collected.  Now, however, i'm on my own.

Eric-Great info!  Yes, i have spoken to a few others that won't touch the area.  I suppose that's why I got such a good deal.  I will list on that site and see if I can get the section 8 in process.  Thanks for the invite to contact you.  I will take you up on that.  I really like Memphis but am still learning and am very early on the learning curve.

Negative is OK.  I just need some truth here to try to get on track.  Great point about the PM's photos.

OVG out of Singapore

I don't know about murders, drugs, etc. at the house or neighborhood.  Anyone from Memphis know the area?