All Forum Posts by: Brian Tumminello

Is this still available?

I heard these zip codes in Memphis provide great opportunities: 38135, 38134, 38133, 38016, 38018, east side of 38125 38141. I think if rent is above $1000/mo I would be able to be cash flow positive after all expenses (for a 3 bed 2 bath home 1200-1700 sqft).

My name is Brian and I am a real estate investor in CA. I have been doing research to determine the best place for me to start buying rentals and to hold long-term for cash flow. My research led me to Memphis. I’m looking for single-family homes with 3 bedrooms and at least 1.5 bathrooms. My goal is to buy them with conventional financing (15-year mortgage), repair them to be rent ready, and hire a property manager to rent them out. I plan to buy 1-2 homes this year and have experience managing rental property already. My goal is to find properties that need work or are owned by motivated sellers that I can purchase for 80 cents on the dollar if possible. Please let me know if you are a real estate agent in Memphis who would be interested in taking me on as a client. If you or anyone you know has a property manager you can recommend, I would love to reach out and get in touch with that individual as well. Finally, if you work with a preferred contractor, that would be great. Regards, Brian My specific criteria: SFR 3BR 1.5+ Bath - purchase price less than $150k B or B+ property Cash-flow positive (minimum 10% net cap rates with at least 1% rental ratio) $5-10K budget to rehab property Rent out to family for long-term lease strong appreciation low vacancies / supply low property taxes low price to income ratios positive demographics - low unemployment, low crime, high % renters, population growth, etc. healthy local economy

Yes. I wanted to rehab from out of state. But only way to do it is to have a team in place who I trust, including property management and a contractor. What are your thoughts 

I am interested in investing in SFR in Cleveland. How are the Cleveland Heights and the South Euclid neighborhoods for cash flow positive properties? My specific criteria SFR 3BR 1.5+ Bath - purchase price less than $125k B or B+ property Cash-flow positive (minimum 10% net cap rates with at least 1% rental ratio) $15k budget to rehab property Rent out to family for long-term lease strong appreciation low vacancies / supply low property taxes low price to income ratios positive demographics - low unemployment, low crime, high % renters, population growth, etc. Healthy local economy landlord friendly laws