All Forum Posts by: Charles Cackler

That's a lot of very good information Alan. Thank you very much. Will utilize :)

I'm currently looking into a little duplex in the U of M area. It looks pretty good so far, but I noticed that it was built in 1947. What problems should I look for, given it's age?

Since I can do a 15% downpayment, I'm thinking of looking more into C-class areas, such as around the University of Memphis.

(Michelle) That's good to know. I hadn't considered that. I will definitely make sure to keep all those things in mind.

Especially the repairs. That's very helpful.

Those are all good points. It looks like I have a downpayment percentage of about 15% though, so where should I be looking instead, if I may ask?

One thing I'm worried about is, with existing tenants, will I have to make a lot of repairs when I purchase the property, or no?

Thanks for the welcome, John!

I have looked into that option, and while I love the idea, my wife vetoed it for now--she loves our current home too much. 

But I'm certainly willing to look into alternatives, for sure.

Thanks for the luck!

Hello BiggerPockets forums.

As a bit of background, I'm in Memphis, TN, and while I have well over a decade's experience in investing, I have never done any real estate investments other than some REITs.

I have about $12k to invest and excellent credit, and am looking into investing in rental properties.

My thoughts are that I should start with multi-family units with existing tenants, as I'd ideally like to keep some of that money left over in case of unforeseen expenses, and I really don't want to dip into my backup funds unless I have little other choice.

My questions are 1: Is this a workable strategy? 2: What pitfalls should I keep in mind? 3: What sort of financing should I be looking into? Owner-financed, traditional mortgage, or what?

Any other comments are appreciated as well. Thank you for any help you can provide.